| Today's Economy
Economic Roundup: Locked-In, Lockout Mortgage rates weigh on homebuying and a Canadian work stoppage will have a mild U.S. impact. Europe Daily Briefing: Paris Olympics Lifts PMIs Upon close inspection, the underlying dynamics remain weak. Asia-Pacific Daily Briefing: Malaysian Inflation Holds Steady Food inflation in July was the lowest since August 2021. Economic Roundup: New Read on U.S. Labor Market Is Mostly Old News Substantial downward revision looms for jobs numbers, but will do little to change the outlook. » VIEW MORE TODAY'S ECONOMY
Commentary
APAC Outlook: Expansion Despite Obstacles Before Its Largest Economies Trade, investment and consumption will drive the region's economy. A Look at the Macroeconomic Impacts of Harris’ Economic Plan VP Harris’ policy proposals mirror President Biden’s and, taken together, would reduce the federal budget deficit. Is Canada Going Off the Rails? We estimate the economic damage of a full-fledged rail-worker strike at C$341 million per day. Euro Zone Risk Matrix: Financial Markets, Geopolitics in the Spotlight We expect more ups and downs in European equities over the next year, but these will not precipitate liquidity events. » VIEW MORE COMMENTARY
Today's Economic Indicators
Malaysia
Consumer Price Index
Jul. 2024: 2.0% y/y
Malaysia’s headline inflation rate held at 2% y/y for a third straight month in July. Norway
GDP
2024Q2: 1.4% m/m
Norway's GDP growth measured 1.4% q/q in the second quarter of the year, buoyed by a strong offshore performance. Mexico
Economic Activity Index
Jun. 2024: -0.6% y/y
Economic activity in Mexico slowed down in June, influenced by reduced spending following the political campaigns after the elections at the beginning of the month. Mexico
GDP
2024Q2: 2.1% y/y
The Mexican economy continued to advance in the second quarter stimulated by the positive effect of the political cycle in an election year. United States
Chicago Fed National Activity Index
Jul. 2024: -0.34
The Chicago Fed National Activity Index points to further slowing in the U.S. economy in July. United States
Jobless Claims
August 17: 232,000
U.S. initial claims for unemployment insurance remain slightly elevated but have stabilized in recent weeks. United States
Existing-Home Sales
Jul. 2024: 3.95 mil, SAAR
Existing-home sales picked up in July, gaining 1.3% to a seasonally adjusted annual rate of 3.95 million, roughly in line with consensus expectations of 3.93 million sales. United States
St. Louis Fed Financial Stress Index
August 16: -0.71
U.S. financial market stress eased for the first time in six weeks with the St. United States
Natural Gas Storage Report
August 16: 35 bil cubic feet
Gas stocks rose by more than analysts were predicting last week, which is adding some downward pressure on gas prices. United States
Kansas City Fed Manufacturing Survey
Aug. 2024: -3
Activity among manufacturers in the Federal Reserve’s Tenth District fell in August, but at a considerably slower pace than last month. Argentina
Retail Sales Index
Jun. 2024: 220.5% y/y
The index that tracks nominal sales at shopping centers across Argentina’s main urban centers increased 220.5% year on year in June, following 186.8% in the previous month. New Zealand
Retail Trade
2024Q2:
Japan
Consumer Price Index
Jul. 2024:
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