| Today's Economy
LatAm Daily Briefing: Argentina’s 2021 Growth Projection Improves Signs point to a better-than-anticipated expansion this year despite the ongoing pandemic. Capital Market View: A Bottom Could Form Soon Seasonals support an increase in the 10-year Treasury yield. Europe Daily Briefing: Euro Zone Inflation Heats Up Inflation jumped in August in the euro zone core. Asia-Pacific Daily Briefing: China's Manufacturing PMI Moderated in August A few factors could see China's manufacturing sector rebound in coming months. » VIEW MORE TODAY'S ECONOMY
Commentary
Ida's Cost Starts Coming Into Focus The U.S. price tag is less severe than for its predecessors, but the story is still being written. Global Vaccine Tracker Update: LatAm Braces for Delta The EU has recommended all nonessential travel from the U.S. be banned. Forecaster's Mailbag: Australia's Perplexing Labour Market Figures The unemployment rate is higher than the official figure suggests. U.S. Inflation Tracker: Signs of Moderation Price pressures from autos cooled noticeably in July. » VIEW MORE COMMENTARY
Today's Economic Indicators
Netherlands
Retail Sales
Jul. 2021: 3.4% y/y
Retail trade growth decelerated to 3.4% y/y in July as level effects started to wane. Japan
Consumer Confidence
Aug. 2021: 36.7
Japan's consumer confidence index slid marginally to 36.7 in August, down 0.8 point from July. Finland
GDP
2021Q2: 2.1% q/q
Finland’s GDP rebounded by 2.1% q/q, beating the 2% gain initially estimated. Denmark
GDP
2021Q2: 2.3% q/q
Denmark's reopening following lockdowns spurred the economy in the second quarter. Denmark
Unemployment rate
Jul. 2021: 3.8%
Denmark's labor market is showing stability. France
GDP
2021Q2: 1.1% q/q
France’s GDP rebounded by 1.1% q/q in the second quarter after no growth in the first. France
Household Consumption Survey
Jul. 2021: -2.2% m/m
France’s household consumption of goods tumbled by 2.2% m/m in July after June’s 0.3% increase. Austria
Employment and the Labour Market
Jul. 2021: 6.8%
From a peak of 11.4% in January, the unemployment rate continued a sharp downtrend in July, settling at 6.8%. Germany
Unemployment
Aug. 2021: 5.5%
Germany's unemployment rate dropped by 10 basis points to 5.5% in August, signaling further labor market improvement. Italy
GDP
2021Q2: 2.7% q/q
Italy's GDP grew by 2.7% q/q in the second quarter and by 17.3% in year-ago terms thanks to strong household consumption. Thailand
Foreign Trade
Jul. 2021: US$3.4 bil
A falling baht has offered some support to Thai exports, but not enough to improve Thailand’s trade position. Hong Kong SAR (China)
Retail Sales
Jul. 2021: 2.9% y/y
Hong Kong's retail sales rose by 2.9% y/y to HK$27.2 billion, after 5.8% y/y growth in June. Euro Zone
Preliminary Consumer Price Index
Aug. 2021: 3.0% y/y
According to preliminary estimates, the euro zone’s harmonized index of consumer prices rose by 3% y/y in August, following a 2.2% increase in July. Portugal
GDP
2021Q2: 15.5%
Portugal’s economy rebounded by an impressive 15.5% y/y in the second quarter after contracting by 5.3% y/y in the first quarter. India
GDP
2021Q2: 20.1% y/y
India’s real GDP for the June quarter, the first of Indian fiscal 2021-22, came in at 20.1% y/y, buoyed by very low base effects. Brazil
Employment Situation
Jun. 2021: 14.1%
Brazil's unemployment rate declined to 14.1% in the rolling quarter ended in June from 14.6% in the previous three-month period. Canada
GDP
2021Q2: -1.1% SAAR
Pummeled by the third wave of the pandemic, a sharp drop in exports, and a pullback in housing activity, GDP fell 1.1% at an annualized pace in the second quarter. Canada
Gross Domestic Product by Industry
Jun. 2021: 0.7% m/m
Gross domestic product bounced back in June following two months of struggles. Chile
Manufacturing Production
Jul. 2021: 11.02% y/y
The national industry continued to report strong annual growth in July, amplified by the comparison base. Chile
Retail & Wholesale Sales
Jul. 2021: 39.6% y/y
Chile retail sales punched new highs in July as the third pension drawdown and the expansion of monthly cash transfers padded consumers' pockets. United States
S&P CoreLogic Case-Shiller® Home Price Indexes
Jun. 2021: 19.1% y/y
House-price growth accelerated once again in June, as measured by the S&P CoreLogic Case-Shiller 20-City Composite Index, clocking in its 12th straight month of quicker year-over-year price appreciation. United States
Monthly GDP
Jul. 2021: -0.4% m/m
The U.S. economy lost momentum heading into the third quarter, and the current wave of COVID-19 cases and the effect of Hurricane Ida both lend downside risk to growth. United States
FHFA Purchase-Only House Price Index
Jun. 2021: 18.8% y/y
The Federal Housing Finance Agency Purchase-Only House Price Index increased 18.8% on a year-ago basis in June. Chile
Employment
Jul. 2021: 8.9%
The national unemployment rate averaged 8.9% in the May-July rolling quarter, down from 13.1% a year earlier. World
Moody's Analytics Global Risk of Recession
Apr. 2021: 13.7%
Global recession risk continues to decline despite the rise of the Delta variant. United States
Conference Board Consumer Confidence
Aug. 2021: 113.8
U.S. consumer confidence tumbled in August because of the recent surge in COVID-19 cases. United States
Moody’s Analytics Policy Uncertainty Index
August 27: 295.8
The four-week moving average in our U.S. United States
Texas Service Sector Outlook Survey
Aug. 2021: 16.5
Texas service industries grew in August, though the pace decelerated compared with July. All current component indicators remained positive. United States
Agricultural Prices
Jul. 2021: -0.5% m/m
The Agricultural Prices Received Index decreased 0.5% in July to 106.9. Chile
Monetary Policy
Aug. 2021:
Australia
GDP
2021Q2:
South Korea
Foreign Trade
Aug. 2021:
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