A strong November for most carmakers

A strong November for most carmakersAll major automakers but Toyota reported strong U.S. sales increases in November. Ford, General Motors, Chrysler, Nissan, Hyundai and Honda all reported double-digit increases, and only Toyota, which has been hurt by a string of safety recalls, had a sales drop. Overall, according to Autodata Corp., U.S. sales last month rose 17 percent from November 2009

U.S. workers' efficiency rises at slower paceThe workforce was more productive in the summer than originally thought, reflecting that the economy produced more goods and services than first estimated. Despite the revision, the efficiency of U.S. workers is increasing at a much slower pace than last year; economists say that could signal more hiring in the near future. Productivity grew at an annual rate of 2.3 percent in the July-September quarter, an improvement over an initial estimate of 1.9 percent productivity growth, the Labor Department said.

A new month of gains for constructionConstruction spending rose for the second straight month in October, pushed up by growth in residential building and government projects. Construction spending increased 0.7 percent in October, matching the September gain, the Commerce Department reported Wednesday. It marked the first time that construction activity has risen for two straight months since March and April. Spending rose in October to a seasonally adjusted annual rate of $802.3 billion. Even with the gains, construction spending is 33.7 percent below the peak hit in March 2006.

Asia has lion's share of biggest IPOsEight of the year's 10 largest initial public offerings took place on Asian stock exchanges. Two of the biggest -- for American International Assurance, the Asian unit of American International Group, and the lender Agricultural Bank of China -- each raised more than $20 billion, or about three times as much as the total amount raised in 70 share listings in North and South America in the third quarter this year. In 2000, 21.5 percent of all IPOs globally, in terms of value, were raised on stock exchanges in the Asia-Pacific region. Now it's 64 percent, according to Dealogic.

Manufacturing in China again grows fasterChina's manufacturing grew at a faster pace for a fourth straight month in November. The Purchasing Managers' Index rose to 55.2 from 54.7 in October, China's logistics federation said on its website Wednesday.

FROM NEWS SERVICES