| Today's Economy
Economic Roundup: Interpret with Caution The notable drop in retail sales likely reflects shifting holiday shopping patterns, rather than a changing trend. Canada Weekly: Shrewd on Crude A retrospective on Canadian oil producers' decision not to increase output in the pandemic. Europe Daily Briefing: Euro Zone PMIs Improve Again U.K. manufacturing decline significantly in December, though services saw a strong rebound. U.S. Retail Sales More Volatile Than Weak November's large decline came on the heels of an outsize October gain. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Weekly Highlights and Preview, December 16, 2022 The housing market continues to bear the brunt of higher interest rates. Europe Weekly Highlights and Preview, 16 December, 2022 ECB and BoE lifted rates even as inflation showed signs of slowing. Latin America Weekly Highlights and Preview, December 16, 2022 Colombia and Uruguay face declining production and waning demand. Japan Risk Matrix: Stumbling Into 2023 Financial conditions will remain tight in 2023 as central banks, led by the U.S. Federal Reserve, approach the peak of their aggressive hiking cycle. » VIEW MORE COMMENTARY
Today's Economic Indicators
United Kingdom
Retail Sales
Nov. 2022: -0.4% m/m
U.K. retail sales volumes fell by 0.4% m/m in November, following a 0.9% rise in October, which was itself a bounceback from the disruptions caused by September’s extra bank holiday. Hong Kong SAR (China)
Employment Situation
Nov. 2022: 3.7%
The seasonally adjusted unemployment rate in Hong Kong decreased to 3.7% for the September-to-November period from 3.8% for August through to October. Austria
Consumer Price Index
Nov. 2022: 10.6% y/y
Austria's year-on-year inflation rate stood at 10.6% in November, slightly lower than October rate of 11%. Sweden
Unemployment rate
Nov. 2022: 7.2%
Sweden’s unemployment rate recoiled in November to 7.2% after jumping up to 7.7% in October. Italy
Consumer Price Index
Nov. 2022: 11.8% y/y
Italian consumer price inflation held steady at 11.8% year over year in November, the highest value since March 1984, confirming preliminary estimates. Euro Zone
Consumer Price Index
Nov. 2022: 10.1% y/y
Final estimates reported the euro zone inflation rate at 10.1% y/y in November, down from 10.6% in October, marking a 0.1 percentage point upward revision from the preliminary estimate previously released. Euro Zone
External Trade
Oct. 2022: -€26.5 bil
The euro zone’s not seasonally adjusted trade balance fell to a deficit of EUR26.5 billion in October from a surplus of EUR605.7 million one year earlier. Russian Federation
Monetary Policy
Dec. 2022: 7.5%
At its scheduled December meeting, the Central Bank of Russia maintained its benchmark interest rate at 7.5%. Canada
New Housing Price Index
Nov. 2022: 4.1% y/y
Rising rates have continued to constrain consumer demand for housing. Canada
International Transactions in Securities
Oct. 2022: C$8.5 bil
Cross-border capital flows calmed in October following a flurry of activity in the prior month. Canada
Wholesale Trade
Oct. 2022: 2.1% m/m
Wholesale sales jumped up in October, pushed along by agricultural supplies and rebounding building materials. India
Foreign Trade
Nov. 2022: -US$23.9bil
India's merchandise trade deficit decreased in November with imports outstripping exports by US $23.89 billion, compared to U.S. $26.9 billion in October. United States
Regional and State Employment
Nov. 2022:
November’s employment report for state and regional economies points to a continued slowdown in job growth in most parts of the country. Colombia
Monetary Policy
Dec. 2022: 12.00%
Colombia’s central bank hiked the reference interest rate by an additional 100 basis points to 12% at Friday’s regular meeting. » VIEW MORE ECONOMIC INDICATORS | 
