Industrial production decreased 0.10 percent in October from the prior month.  This comes after a notable jump in September of 0.80 percent.  The producer price index, or average change in price of goods and services sold by manufacturers and producers in the wholesale market, rose 0.20% in October and stands at 1.5% year over year.  The US Markit Manufacturing purchasing managers’ index decreased to 54.7 in November from 55.9 in October.  Export sale volumes decreased which aligns with weakening European and Chinese economies.  One important takeaway from these numbers was a robust rise in payroll numbers.

China’s central bank slashed one-year loans by commercial banks 0.4 percent to 5.6 percent and the one-year savings was lowered by 0.25 percent to 2.75.  This is the first rate cut since July 2012 and will probably be the first step of many by China’s central bank to increase lending and combat slowing growth in China.  China now joins the party of other global central banks providing accommodative monetary policy to promote economic growth.