| Today's Economy
Economic Roundup: U.S. Labor Market Takes Center Stage U.S. nonfarm payrolls are expected to bounce back in November and Japan's new fiscal package will have little impact on our forecast. LatAm Daily Briefing: Chilean Retailers’ October Surprise Although sales got a boost, overall spending is still below normal. Europe Daily Briefing: U.K. Housing Heats Up Survey data point to strong house price growth this quarter. An Early Gift for the ECB Doves A soft euro zone inflation report raised the chance that the central bank might make a larger-than-anticipated interest rate cut this month. » VIEW MORE TODAY'S ECONOMY
Commentary
Trump’s Golden Roller Coaster The U.S. president-elect's second term will bring higher volatility to global commodities markets. Japan’s Latest Fiscal Package Isn’t Worth Losing Sleep Over Fresh fiscal spending is a fraction of what the government has promised. Vietnam in Trump's Sights Trump 2.0 will have negative consequences for Vietnam’s export-driven economy. U.S. Weekly Highlights and Preview, November 29, 2024 November employment will be in the spotlight as we look to see how strongly job growth rebounded following a weak October. » VIEW MORE COMMENTARY
Today's Economic Indicators
World
Moody's Analytics Global Risk of Recession
Nov. 2024:
Italy
Unemployment
Oct. 2024: 5.8%
In October, Italy’s unemployment rate fell to a record-low 5.8%, beating our forecast of 6.1%, thanks to a 58,000 drop in joblessness. Italy
GDP
2024Q3: 0.0% q/q
ISTAT confirmed that Italy's GDP was flat quarter over quarter in the third quarter of 2024. Euro Zone
Unemployment
Oct. 2024: 6.3%
The euro zone unemployment rate was unchanged at 6.3% in October, the third month in a row it has remained at this historical low value. Chile
Monthly Economic Activity Indicator
Oct. 2024: 2.3% y/y
Economic activity recovered steam in October after a disappointing performance in the previous month when no annual change was reported. Hence, the economic activity index reported annual growth of 2.3% in October after growth of 0.3% in the previous month and an increase of 1% a year before. Chile
Employment
Oct. 2024: 8.6%
The Chilean labor market improved in the August-October rolling quarter amid the economic recovery. United States
Construction Spending (C30)
Oct. 2024: 0.4% m/m
Construction spending in the U.S. was estimated at a seasonally adjusted annualized rate of $2.174 trillion in October. World
Moody's Analytics Survey of Business Confidence
November 29: 28.3
Global businesses are feeling good. United States
ISM Manufacturing Index
Nov. 2024: 48.4
U.S. manufacturing contracted again in November. Chile
Retail & Wholesale Sales
Oct. 2024: 6.2% y/y
October was the strongest month yet for retailers in Chile, but spending is still short of June's high. Peru
Consumer Price Index
Nov. 2024: 2.3% y/y
The Lima CPI, a barometer of price pressures at the national level in Peru, rose 2.3% y/y in November, reflecting last year's low comparison base. United States
Agricultural Prices
Oct. 2024: -6.5% m/m
South Korea
Consumer Price Index
Nov. 2024:
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