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US manufacturing output accelerates in December

U.S. manufacturing output surged in December likely as production at Boeing (NYSE:BA) picked up following the end of a crippling strike by factory workers at the aerospace giant. Factory output increased 0.6% last month after an upwardly revised 0.4% rebound in November, the Federal Reserve said on Friday. Economists polled by Reuters had forecast production rising 0.2% after a previously reported 0.2% gain. Production at factories was unchanged on a year-on-year basis in December. It fell at a 1.2% annualized rate in the fourth quarter after contracting at a 0.8% pace in the July-September quarter. Manufacturing, which accounts for 10.3% of the economy, has largely stabilized in recent months after the U.S. central bank started cutting interest rates.

China leaves benchmark lending rates unchanged

China left benchmark lending rates unchanged for a third consecutive month, as expected, as a weakening yuan has limited Beijing's monetary policy easing efforts. At the monthly fixing on Monday, the one-year loan prime rate (LPR) was kept at 3.1%, while the five-year LPR was unchanged at 3.6%

Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages.

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