| Today's Economy
Capital Market View: Increasing U.S. Tariffs on Canadian Lumber Is Bad Policy Tariffs usually make more political sense than economic sense, but neither is true now. LatAm Daily Briefing: Argentina’s Net Liquid Reserves in Danger A near-zero balance forces policymakers to act. Europe Daily Briefing: Turkish Manufacturing PMI Is Optimistic An expansionary PMI in November masks upcoming trouble for the economy. Asia-Pacific Daily Briefing: Australia GDP Suffers Q3 Contraction Lockdowns in the most populous states have lifted in time for Christmas shopping. » VIEW MORE TODAY'S ECONOMY
Commentary
CEE Outlook: The Worst Wave Yet The ongoing pandemic and persistent disruptions to the global supply chain will weigh on Central and Eastern Europe’s near-term outlook. U.S. Inflation Tracker Update: Food and Fuel Remain Key Consumer prices will remain volatile in early 2022. U.S. B2B Tracker: Rising Prices Pass to Smaller Firms Businesses were spending nearly 20% more in October than a year earlier as they work to replenish inventories and meet surging demand. Global Vaccine Tracker: Valuating a New Variant, Again Omicron reminds us that the global economic recovery remains tethered to the pandemic. » VIEW MORE COMMENTARY
Today's Economic Indicators
Germany
Retail Sales
Oct. 2021: -0.3% m/m
German retail sales continued their up-and-down performance in October, inching higher by 0.2% m/m in nominal terms but falling 0.3% m/m in price-adjusted terms. Switzerland
Consumer Price Index
Nov. 2021: 1.5%
Swiss inflation accelerated in November, reaching 1.5% y/y compared with 1.2% y/y in October. Austria
Employment and the Labour Market
Oct. 2021: 6.5%
October's unemployment rate in Austria came in at 6.5%, keeping labor conditions tight. Ireland
Unemployment rate
Jul. 2021: 5.5%
The seasonally adjusted Irish unemployment rate continued to decline, printing at 5.5% in the third quarter, a significant drop from 7.1% in the previous quarter. Chile
Monthly Economic Activity Indicator
Oct. 2021: 15.0% y/y
Chile's economic recovery advanced further in October as the domestic market remains strong. United States
MBA Mortgage Applications Survey
November 26: -7.2%
Mortgage applications plunged 7.2% in the week of November 26, following last week’s 1.8% growth. United States
ADP National Employment Report
Nov. 2021: 534,000 m/m, ths
The labor market recovery is holding up in the face of challenges. Canada
Building Permits
Oct. 2021: 1.3% m/m
Building permits are bucking the trend in the Canadian housing market. United States
Construction Spending (C30)
Oct. 2021: 0.2% m/m
The value of U.S. construction put-in-place rose 0.2% in October. Peru
Consumer Price Index
Nov. 2021: 5.7% y/y
Inflation in metropolitan Lima came in slightly lower in November but still stands at 12-year highs. United States
Moody's Analytics Inflation Expectations Pulse
November 28: 2.55%
Inflation expectations edged higher last week, according to the Moody’s Analytics Inflation Expectations Pulse. United States
ISM Manufacturing Index
Nov. 2021: 61.1
U.S. manufacturing conditions improved slightly in October as there was some slight easing in supply-chain issues. United States
Oil Inventories
November 26: 433.1 mil barrels
A smaller-than-expected decline in oil inventories will apply some downward pressure on oil prices. United States
Beige Book
Dec. 2021:
The U.S. recovery advanced at a modest-to-moderate tempo, according to Beige Book anecdotes collected from the Federal Reserve districts. Brazil
Foreign Trade
Nov. 2021: -US$1.307 bil
The trade balance turned negative in November as imports continued to accelerate. South Korea
GDP
2021Q3:
South Korea
Consumer Price Index
Nov. 2021:
Australia
Foreign Trade
Oct. 2021:
Australia
Retail Sales
Oct. 2021:
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