| Today's Economy
LatAm Daily Briefing: Vaccination Continues Its Progress Latin America’s COVID-19 vaccination campaign accelerates as governments secure more doses. Capital Market View: Delta Variant Could Ding Growth and Boost Inflation Issues in APAC could worsen supply-chain issues, delaying U.S. inventory rebuild and raising prices. Europe Daily Briefing: German Inflation Jumps CPI will vary among euro zone countries due to variations in the strength of their recoveries. Asia-Pacific Daily Briefing: China's Money Supply Growth Eased in July Business confidence is wavering amid China's Delta outbreak. » VIEW MORE TODAY'S ECONOMY
Commentary
Global Vaccine Tracker: More Cases, More Jabs Potential economic fallout from surging infections and hospitalizations due to the Delta variant of COVID-19 in the U.S. is a pressing concern. U.S. Road to Recovery: The Labor Market Heats Up Inventory rebuilding should boost GDP growth in the second half, but the risks are weighted to the downside. U.S. Weekly Highlights and Preview, August 9, 2021 We look for the headline and core consumer price indexes to have risen 0.5% and 0.4%, respectively, in July. This Week in the COVID Recovery The job market makes a strong comeback from the pandemic, but with remote work there is no going back. » VIEW MORE COMMENTARY
Today's Economic Indicators
Germany
Consumer Price Index
Jul. 2021: 3.8% y/y
The seemingly hot print in Germany's consumer price index for July is largely the result of base effects rather than a significant pickup in inflation pressures. Italy
Consumer Price Index
Jul. 2021: 1.9% y/y
Italy’s inflation rate sped up to 1.9% y/y in July from 1.3% in June. China
Monetary Aggregates
Jul. 2021: 8.3% y/y
China’s M2 money supply growth slowed to 8.3% in July from 8.6% y/y in June, contrary to market expectations for a small acceleration in credit growth. Portugal
Consumer Price Index
Jul. 2021: 1.5%
Portuguese inflation jumped to 1.5% y/y in July compared with just 0.5% y/y in June. Portugal
Unemployment rate
2021Q2: 6.7%
Portugal’s unemployment rate fell in the second quarter of 2021 to 6.7% from 7.1% in the first quarter. United States
MBA Mortgage Applications Survey
August 06: 2.8%
Mortgage applications grew 2.8% in the week of August 6, following last week’s 1.7% contraction. Mexico
Industrial Production
Jun. 2021: 13.5% y/y
Industrial production in Mexico reported strong annual growth in June, though it decreased in monthly terms. Brazil
Retail Sales Index
Jun. 2021: 6.2% y/y
Household consumption posted slower-than-expected annual gains and a monthly contraction. United States
Consumer Price Index
Jul. 2021: 0.5% m/m
It's early, but there are tentative signs that some of the temporary factors behind the past surge in U.S. inflation are fading. Russian Federation
Foreign Trade
Jun. 2021: US$18.3 bil
Russia’s foreign trade performance significantly improved in June, as the global economic recovery led to substantial export gains. United States
Moody's Analytics Inflation Expectations Pulse
August 08: 2.38%
The 10-year Inflation Expectations Pulse edged lower again in the week ended August 8, decreasing to 2.37%. United States
Oil Inventories
August 06: 438.8 mil barrels
An unexpected decline in crude oil stocks will push up oil prices. Uruguay
Industrial Production
Jun. 2021: 19.8% y/y
Uruguay’s industrial production increased by 19.8% in yearly terms in June after gaining 22.9% in May. Canada
RPS House Price Index
Jul. 2021:
United States
Treasury Budget
Jul. 2021: -$302.1 bil
Pandemic relief is distorting year-over-year comparisons of the federal budget deficit, but fiscal conditions are still deteriorating. Japan
Machinery Orders
Jun. 2021:
Japan
Monetary Policy
Aug. 2021:
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