| Today's Economy
Economic Roundup: It'll Take More Than Falling Commodity Prices July's FOMC minutes show the Fed's commitment to breaking inflation remains steadfast. U.S. Retail Sales Don't Budge in July but That Masks Decent Details Real consumer spending is on track to rise 2.5% at an annualized rate in Q3. LatAm Daily Briefing: LatAm Struggles With Timely Official Statistics Delaying the publication of official economic data affects companies’ price adjustments. Europe Daily Briefing: U.K. Inflation Soars past 10% in July The U.K.'s inflation rate is the highest in nearly 40 years. » VIEW MORE TODAY'S ECONOMY
Commentary
Japan Risk Matrix: Supply Snags COVID-19 and external disruptions keep the country's recovery wobbly. This Week in the Economy The U.S. economic statistics have suddenly taken on a brighter hue. U.S. Chartbook: In the Right Direction There was welcome news on inflation, but the Fed could have trouble reining in house prices. Global Outlook: Recession Odds Keep Rising The worldwide economy will skirt a contraction in 2022, but barely. » VIEW MORE COMMENTARY
Today's Economic Indicators
United Kingdom
Consumer Price Index
Jul. 2022: 10.1% y/y
CPI inflation rose to 10.1% in July from 9.4% in June, with food and nonalcoholic beverages contributing to almost half of that increase. Hong Kong SAR (China)
Employment Situation
Jul. 2022: 4.3%
The seasonally adjusted unemployment rate in Hong Kong fell to 4.3% for the May-to-July period, compared with 4.7% for the April-to-June period—surprising both our and market expectations for this month's reading to settle at 4.5%. United States
MBA Mortgage Applications Survey
August 12: -2.3%
Mortgage application volume slid 2.3% in the week ended August 12. United States
Retail Sales
Jul. 2022: 0.0%, m/m
In line with our forecast, retail sales were unchanged from June to July. United States
Business Inventories (MTIS)
Jun. 2022: 1.4% m/m
Business inventories increased by 1.4% from May to June. United States
Oil Inventories
August 12: 425.0 mil barrels
A larger-than-expected drop in crude oil inventories could push up on prices somewhat. United States
FOMC Minutes
Jul. 2022:
The minutes from the July meeting of the Federal Open Market Committee continued to show that the central bank isn’t happy with the current rate of inflation, but some caution is creeping into mindsets about the current tightening cycle. Australia
Employment Situation
Jul. 2022:
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