| Today's Economy
Wicked Claims? Seasonal factors are pushing U.S. jobless filings higher. Narrow Deficit Nudges Q3 GDP Tracking Estimate Higher Quarterly growth is now on course to rise 1.3% at an annualized rate. Final Thoughts Ahead of July U.S. Employment There likely will be no concrete signs of a recession, even as job growth moderated. Capital Market View: How Inverted Could the U.S. Yield Curve Get? The Fed plans to take rates above neutral, which might mean a larger inversion. » VIEW MORE TODAY'S ECONOMY
Commentary
What Japan and South Korea Can Teach Us About Living With COVID-19 The pair achieved leading health outcomes with few restrictions. Last In, First Out for Regional Expansions? Recent indicators suggest that slowing is more pronounced among already-struggling U.S. states. Europe’s Next Recession In an adverse scenario, European countries wouldn’t manage to skirt recession in 2022. U.S. Job Survey Divergence Not Troubling, Yet A healthy labor market is grounding economic optimists, but BLS employment measures send conflicting signals. » VIEW MORE COMMENTARY
Today's Economic Indicators
Netherlands
Consumer Price Index
Jul. 2022: 10.3% y/y
Despite the introduction of a value-added tax cut running until December, inflation in July was once again buoyed by a larger contribution from gas. United States
Challenger Report
Jul. 2022: 25,810
Job cut announcements from U.S.-based employers declined in July, dropping 20.6% from the month prior. United States
Jobless Claims
July 30: 260,000
U.S. initial claims for unemployment insurance continue to show some stress on the labor market, and if they move much higher it will raise a red flag. United States
International Trade (FT900)
Jun. 2022: -$79.6 bil
The U.S. nominal trade deficit continues to narrow and will add to GDP growth going forward. Canada
International Merchandise Trade
Jun. 2022: C$ 5.05 bil
Canada's merchandise exports climbed by 2% in June, mainly on higher crude oil and gold exports. Canada
Building Permits
Jun. 2022: -1.5% m/m
Building permits retreated in June as the once-boiling hot housing market settles into a lengthy cooldown. United Kingdom
Monetary Policy and Minutes
Aug. 2022: 1.75%
With the Bank of England judging that inflationary pressures have become more persistent, it stepped up its pace of monetary tightening at the August meeting. United States
St. Louis Fed Financial Stress Index
July 29: -2.00
Financial stress ticked higher for the first time in a month as the St. United States
Natural Gas Storage Report
July 29: 41 bil cubic feet
Last week’s build in gas stocks exceeded analyst expectations, which could serve to push down on prices somewhat. Australia
Datium Insights - Moody’s Analytics Used Vehicle Price Index
Jul. 2022: 14.2% y/y
Used-vehicle prices decreased for the second consecutive month. Philippines
Consumer Price Index
Jul. 2022:
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