| Today's Economy
Economic Roundup: Fed Has No Choice It has to raise rates by 50 basis points next week since wage growth is accelerating. Canada Weekly: I'm Outta Here An aging population will increase retirements in the next decade and affect labor supply. As Labor Market Normalizes, Nominal Wage Growth Should Decelerate The increase in the ECI has been stronger than our calculation using the wage growth Phillips curve. Geopolitical Risk Calendar: Russia Cuts Gas Supply Some countries refuse to pay in the Russian-demanded currency. » VIEW MORE TODAY'S ECONOMY
Commentary
What’s Going on With U.S. Defense Spending? Real spending by the Pentagon weighed on GDP growth more than expected due in large part to surging fuel costs. IMF Assistance a Bitter Pill for Sri Lanka Terms of the loan package will determine medium-term economic prospects. Latin America Weekly Highlights and Preview, April 29, 2022 Retail sales advance in Mexico and Argentina, but a rapid decline in Chile signals the start of a recession. Russia’s Gas Shutoff in a Strategic Context Bulgaria and Poland will manage, but what are the broader implications for Europe? » VIEW MORE COMMENTARY
Today's Economic Indicators
Netherlands
Retail Sales
Mar. 2022: 4.7% y/y
Dutch retail sales slowed their annual pace of growth, from 12.1% y/y in February to 4.7% y/y in March. Norway
Retail Sales
Mar. 2022: 3.4% m/m
Norway’s retail sales excluding motor vehicles and fuel bounced back, increasing by 3.4% m/m in March after a small decrease of 1.3% in February. Denmark
Unemployment rate
Mar. 2022: 2.5%
The Danish labor market, once again, showed its resilience. France
Household Consumption Survey
Mar. 2022: -1.3% m/m
Household goods consumption took a hit in March 2022. Spain
Retail Sales
Mar. 2022: -3.8% m/m
Spain’s retail sales dropped in seasonally adjusted terms by 3.8% m/m in March. Switzerland
Retail Sales
Mar. 2022: -6.6% y/y
Switzerland’s retail sales slumped by 6.6% y/y this March. France
GDP
2022Q1: 0.0% q/q
France's GDP growth ground to a halt in the first quarter. Thailand
Foreign Trade
Mar. 2022: US$5.2 bil
Surging exports have improved Thailand’s trade in March. Euro Zone
Preliminary GDP
2022Q1: 0.2% q/q
According to preliminary estimates, the euro zone’s GDP increased by 0.2% q/q in the first three months of 2022, following a 0.3% rise in the previous quarter. Euro Zone
Preliminary Consumer Price Index
Apr. 2022: 7.5% y/y
According to preliminary estimates, the euro zone’s harmonized index of consumer prices increased by 7.5% y/y in April, speeding up slightly from the 7.4% rise in the previous month. Portugal
Retail Sales
Mar. 2022: 12.9% y/y
Portuguese retail sales increased again from February to March. Russian Federation
Monetary Policy
Apr. 2022: 14%
The Central Bank of Russia cut its benchmark interest rate again by 300 basis points to 14% at its April meeting— an identical cut to its last meeting, where the rate moved from 20% to 17%. Brazil
Employment Situation
Mar. 2022: 11.1%
The unemployment rate reported a mild decrease in March as the economy advanced slowly. Canada
Gross Domestic Product by Industry
Feb. 2022: 1.1% m/m
February's real GDP by industry stunned expectations. United States
Employment Cost Index
2022Q1: 1.4% q/q
The Employment Cost Index rose by 1.4% in the first quarter, a bit stronger than expected and a reacceleration in growth from the end of 2021. United States
Personal Income
Mar. 2022: 0.5% m/m
Personal income expanded 0.5% in March, in line with expectations. United States
PCE Deflator
Mar. 2022: 0.9% m/m
The Federal Reserve hasn’t been subtle about its possible need to tighten monetary policy more aggressively to curb inflation. United States
Real Personal Spending
Mar. 2022: 0.2% m/m
Real consumer spending rose a little for the second straight month in March but still remains little changed since October, despite high volatility in the period. Chile
Manufacturing Production
Mar. 2022: 3.31% y/y
National manufacturers rebounded in March after an annual contraction in the previous month. Chile
Retail & Wholesale Sales
Mar. 2022: 8.1% y/y
Retail sales in Chile fell again in March, marking the fifth consecutive monthly decline. World
Moody's Analytics Global Risk of Recession
Apr. 2022: 31.4%
Global recession risks increased in February to 31.4% from 26.5% in January. United States
Moody’s Analytics & CNN Business Back-to-Normal Index
April 27: 93.6
The U.S. United States
University of Michigan Consumer Sentiment Survey
Apr. 2022: 65.2
U.S. consumer confidence rose to a three-month high in April on rebounding expectations despite high gasoline prices, inflation staying in the headlines, and the weak stock market. Colombia
Monetary Policy
May. 2022: 6.00%
Colombia’s central bank hiked the reference interest rate by 100 basis points to 6% at Friday’s regular meeting. United States
Agricultural Prices
Mar. 2022: 6.3% m/m
The Agricultural Prices Received Index rose to 127.3, up 6.3% from February. China
Manufacturing PMI
Apr. 2022:
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