Out with the old, in with the new has a fine New Year's ring to it. Unfortunately, the saying does not apply to the global economy: the uncertainty over U.S. fiscal policy that dominated the last weeks of 2012 is far from going away. That uncertainty, which is causing businesses to draw in their horns, is likely to be reflected in two important December indicators this week - the Institute for Supply Management's manufacturing survey on Wednesday and the jobs report on Friday. The ISM index probably rose to 50.2 from 49.5 in November, still well below the second-quarter average of 52.7, while the ... (Read the full story)
