| Today's Economy
Economic Roundup: Euro Zone Inflation Accelerates Unfortunately, inflation on the Continent is unlikely to have peaked. LatAm Daily Briefing: Uruguay’s Central Bank Fights Back As inflation peaks, policymakers get aggressive with rate hikes. Capital Market View: Rising Rates Won’t Bring Golden Age of Banking Deposit rates have only slowly responded to the rising fed funds rate. Europe Daily Briefing: German Unemployment Ticks Up Germany’s unemployment rate increases to 5.5%. » VIEW MORE TODAY'S ECONOMY
Commentary
Emerging Market View: Trouble on the Frontier Debt crises in several smaller economies highlight broader fiscal troubles. U.S. Housing More Overvalued Than Ever House price appreciation will quickly cool in the coming quarters as higher mortgage rates zap demand. APAC Chartbook: Climate Catastrophe Floods and drought are devastating the region. Corporate Investors Dominate Bottom End of Housing Market Affordability pressures will persist despite a cooling U.S. market. » VIEW MORE COMMENTARY
Today's Economic Indicators
Netherlands
Retail Sales
Jul. 2022: -3.7% y/y
In July, the volume of retail sales dropped 3.7% on a year-ago basis. Thailand
Industrial Production
Jul. 2022: 6.4%
Thailand’s industrial production grew 6.4% over the year in July, owing largely to a low base effect. Japan
Consumer Confidence
Aug. 2022: 32.5
Japan’s consumer confidence index edged up to 32.5 in August from 30.2 in July. Finland
GDP
2022Q2: 0.9% q/q
Finland’s GDP grew quarter on quarter by 0.9%, beating an initially estimated 0.6% gain. Denmark
GDP
2022Q2: 0.9% q/q
Danish GDP showed a quarter-on-quarter increase of 0.9% in the second quarter of 2022; first quarter GDP was revised down by 0.6%. Denmark
Unemployment rate
Jul. 2022: 2.7%
The Danish unemployment rate increased to 2.7% in July. France
Household Consumption Survey
Jul. 2022: -0.8% m/m
Household goods consumption took a hit in July. Thailand
Foreign Trade
Jul. 2022: -US$0.4 bil
A sharp slowdown in exports has resulted in a $401 million trade deficit for Thailand in July. Germany
Unemployment
Aug. 2022: 5.5%
In August, Germany's unemployment rate rose for a third month to 5.5%, from 5.4%— the highest in a year. Hong Kong SAR (China)
Retail Sales
Jul. 2022: 4.1% y/y
July retail sales values in Hong Kong surprised on the upside by reversing two months of decline and posting 4.1% year-over-year growth to HKD28.3 billion; our expectations were for a 1% year-on-year decline. Euro Zone
Preliminary Consumer Price Index
Aug. 2022: 9.1% y/y
Preliminary estimates report that the euro zone's HICP inflation rate accelerated on a year-ago basis to 9.1% in August from 8.9% in July. France
GDP
2022Q2: 0.5% q/q
Final estimates confirm that France’s GDP grew by 0.5% q/q in the second quarter following a 0.2% decrease in the first. United States
MBA Mortgage Applications Survey
August 26: -3.7%
The housing market continues to cool dramatically. India
GDP
2022Q2: 13.5% y/y
India’s real GDP for April to June—the first quarter of India's fiscal 2022-2023—came in at 13.5% on a year-ago basis, compared with 4.1% in the fiscal fourth quarter. Brazil
Employment Situation
Jul. 2022: 9.1%
Brazil’s unemployment rate continued to decline in July as the economy creates more jobs. Canada
GDP
2022Q2: 3.3% SAAR
Strong growth across a broad range of categories, including consumer services spending, nonresidential investment, and exports, powered GDP to a solid gain in the second quarter. Canada
Gross Domestic Product by Industry
Jun. 2022: 0.1% m/m
Canadian GDP by industry continued sideways in June to round out the quarter. Chile
Manufacturing Production
Jul. 2022: -5.11% y/y
The national manufacturing production continued to report annual contraction in July, as the economy keeps slowing down. Chile
Retail & Wholesale Sales
Jul. 2022: -11.2% y/y
Retail sales in Chile took a nosedive in July, falling 1.8% from June on a seasonally adjusted basis and down some 11.3% y/y, nearly matching the 11.2% y/y decline in the top-line retail and wholesale sales index. World
Moody's Analytics Global Risk of Recession
Aug. 2022: 42.7%
Global recession risks continue to climb, driven by weakness in Europe and U.S. United States
Moody's Analytics Inflation Expectations Pulse
August 28:
Portugal
GDP
2022Q2: 7.1 % y/y
On a year-ago basis, Portuguese GDP grew 7.1% during the second quarter of 2022. United States
Oil Inventories
August 26: 418.3 mil barrels
A larger-than-expected drop in crude oil inventories could put some upward pressure on oil prices. Russian Federation
Retail Sales
Jul. 2022: -8.8% y/y
Seasonally adjusted Russian retail sales increased by 3.8% m/m in July, outpacing the 1.1% growth previously. Russian Federation
Unemployment
Jul. 2022: 3.9%
Russia's not seasonally adjusted unemployment rate was unchanged at a mere 3.9% in July. Belgium
GDP
2022Q2: 0.2% q/q
Belgian GDP advanced by 0.2% q/q in the second quarter, in line with market expectations and following a 0.5% expansion in the first quarter of 2022. United States
Agricultural Prices
Jul. 2022: -0.1% m/m
The Agricultural Prices Received Index decreased 0.1% to 134.7 in July. South Korea
GDP
2022Q2:
South Korea
Foreign Trade
Aug. 2022:
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