The British economy continues to rely on domestic spending, which drove the nation's economic output to a seventh consecutive quarter of expansion.
For the first time since early September initial unemployment claims broke above the 300,000 threshold, rising to a seasonally adjusted 313,000 in the week ended November 22, but the underlying trend remained consistent with a strengthening labour market.
European Central Bank Vice President Vitor Constancio said that the central bank is set to purchase government bonds early next year should policy makers ponder that more decisive measures are needed.
The New Zealand Dollar weakened following the data release which showed local businesses cut their inflation expectations as economic growth slow from the rampant pace at the beginning of the year.
An increase in the auto sector, which represents one-quarter of overall retail sales, boosted retail sales in Canada to a better than expected result that may force analysts to raise their expectations for GDP.
Despite weak inflation in the UK, the Bank of England officials expect their next decision will be to hike interest rates and now they are focused on timing and a degree of an eventual tightening in policy.
US economic expansion was much stronger than initially estimated in the three months through September, adding to signs that the world's number one economy remains on a solid footing despite increasing global uncertainty.
While ECB policy maker Ewald Nowotny argues that there is no need to step up further stimulus in the near term allowing the recently launched measures to materialize in the economy, the OECD reiterated its calls for the ECB to deploy quantitative easing.
People's Bank of China and the Chinese government are ready to slash interest rates again as well as loosing lending restrictions, as they are getting increasingly concerned that falling prices might prompt a surge in debt defaults, business failures and job losses.
On October 31 the Bank of Japan unexpectedly increased the size of its monetary-expansion programme from 60-70 trillion yen per year to 80 trillion yen, attempting to bring consumer-price inflation to 2% and end the deflationary threat which has hampered growth in the economy for the past 15 years.
Business activity in the American services sector rose this month at a slower pace than in October as growth in new business slowed.
German business morale unexpectedly improved in November, suggesting the Euro zone's number one economy is gradually regaining its footing after struggling to grow in recent months.
China surprised markets at the end of the trading week by cutting interest rates in an effort to support the world's second-biggest economy as it is set for the slowest expansion in almost a quarter of a century.
Consumer prices in Canada rose more than expected in October, as prices of gasoline and clothing soared.
Public finances in Britain improved in October, with borrowing excluding banks falling to 7.7 billion pounds, according to the Office for National Statistics.
The European Central Bank stands ready to act and broaden its asset-purchases programme to drive inflation higher as fast as possible, ECB Head Mario Draghi said.
The main topic of the previous week appeared to be the sales tax hike delay in Japan. Being convinced by Paul Krugman, the Nobel laureate, Abe decided to delay for 18 months a second sales tax hike from the current 8% to 10% after the first lift in April led the economy shrank for two consecutive quarters.
Japan's exports grew robustly in October, rising the most in eight months, adding to optimism that global demand could help the world's third-biggest economy recover from recession and support the Bank of Japan's upbeat economic outlook.
Producer input prices in New Zealand dropped in the third quarter as falling farm gate milk prices cut input costs for dairy manufacturers, reinforcing the view inflation in the South Pacific country will remain subdued.
Britain's retail sales, which account for 5.6% of total UK GDP, rose at the fastest clip in six month in October, driven by sales of household goods and spending on food.
The number of Americans seeking new claims for jobless benefits dropped less than expected last week, but continued to point to improving labour market conditions.
Activity in both manufacturing and services sectors of the Euro zone slowed in November, adding to concerns the Euro bloc's economy risks a renewed slowdown.
Despite the recent downbeat data, which showed the Japanese economy slipped into recession, the Bank of Japan decided to keep its monetary policy and its optimistic economic outlook unchanged, allowing some time to assess the effect of its unexpected easing last month.
Activity in China's manufacturing sector slowed in November, with output falling and deflationary pressures increasing, underscoring weak demand in the Asian economy.