| Today's Economy
Economic Roundup: Biden Administration Moves to Forgive Student Debt The near-term macroeconomic consequences of the plan are on the margins. Substantial Upward Revision to U.S. Job Numbers Employment growth from April 2021 to March 2022 appears even stronger than previously assumed. LatAm Daily Briefing: Venezuela’s Limited Potential The nation must address a variety of issues to create a foundation for future growth. A Date With Destiny: The Importance of Demographics for Risk Modelers Demographics may be destiny, but individuals, organizations and governments still play an important role in shaping the future. » VIEW MORE TODAY'S ECONOMY
Commentary
The Limits of U.S. Household Formations Housing unaffordability, declining births and low immigration are behind our lowered projections. Canada Risk Matrix: Prices' Peril Despite some recent improvement, inflation and interest rates remain issues of great concern. Euro Zone Risk Matrix: The 'No-Flow' Scenario Worries rise as Gazprom said it would close a natural gas pipeline for unscheduled maintenance. Regional Takeaways on Strong July Employment State and regional jobs data also suggest no recession, but gaps across the U.S. persist. » VIEW MORE COMMENTARY
Today's Economic Indicators
United States
MBA Mortgage Applications Survey
August 19: -1.2%
Mortgage application volume dipped 1.2% in the week ended August 19. United States
Durable Goods (Advance)
Jul. 2022: 0.0% m/m
U.S. durable-goods orders have bucked expectations over the past couple of months. United States
Pending Home Sales
Jul. 2022: 89.8
The NAR pending home sales index fell 1% to 89.8 in July, adding to the downward trend that started in fall 2021 and declining to its lowest level since the start of the pandemic in spring 2020. United States
Moody's Analytics Inflation Expectations Pulse
August 21: 2.71%
Inflation expectations in the U.S. have moderated swiftly throughout the summer. United States
Oil Inventories
August 19: 421.7 mil barrels
A larger-than-expected drop in crude oil inventories could put some upward pressure on oil prices. Russian Federation
Industrial Production
Jul. 2022: -0.5% y/y
Russia's industrial production decreased by a modest 0.5% y/y in July, improving on the downwardly revised 2.4% loss in June. Argentina
Retail Sales Index
Jun. 2022: 319.9% y/y
The index that tracks nominal sales at Buenos Aires’ largest shopping centers increased 319.9% y/y in June, after rising 1,553% y/y in the previous month. South Korea
Monetary Policy
Aug. 2022:
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