Karim writes:

The overall income numbers held up well for November despite the weak payroll number; momentum building for consumer spending; capex staged solid rebound

• Personal income up 0.3%
• Real disposable income (after inflation and taxes) up 0.2%
• Personal spending up 0.3% and up 3.8% last 3mths annualized
• Core PCE deflator 0.1% and 0.8% y/y
• Capital goods orders ex-aircraft and defense rebound 2.6%; prior month revised from -4.5% to -3.6%
• Initial claims drop 3k to 420k

Belgian Business Confidence survey chart attached-Considered a very good proxy for Euro-wide economic activity.

Interesting that unlike wobble after sovereign debt pressures picked up in May, activity has surged higher in Q4 (data just released was for December).