| Today's Economy
Geopolitical Risk Calendar: Congress Keeps the Lights On No shutdown, but inflation's a growing concern and job numbers disappoint. Capital Markets View: A Very Scary Chart A correction in stock prices is inevitable but margin calls could be massive. U.S. Job Growth Disappoints but GDP Growth Is Booming New source data put Q4 U.S. GDP tracking 8.7% at an annualized rate. Europe Daily Briefing: Germany Tightens Social Distancing The country announced lockdown measures for the unvaccinated. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Employment Report, Cont'd Recent revisions suggest November's underwhelming report will look better with time. Latin America Weekly Highlights and Preview, December 3, 2021 Unemployment inches down in Mexico, Brazil and Chile. Canada Outlook: Finding the Right Balance Third-quarter GDP show that pandemic-induced imbalances are unwinding. Europe Weekly Highlights and Preview, 3 December, 2021 Euro zone inflation's acceleration is being driven by sky-high energy prices, although even the core inflation rate has risen. » VIEW MORE COMMENTARY
Today's Economic Indicators
France
Industrial Production
Oct. 2021: 0.9% m/m
French industrial production recovered slightly in October. Austria
Retail Sales
Oct. 2021: -2.9% y/y
Austrian retail sales continued a sluggish trend in October, in line with a broader European slowdown. Euro Zone
Retail Sales
Oct. 2021: 0.2% m/m
Retail sales excluding motor vehicles bounced back by 0.2% in October after a downwardly revised loss of 0.4% m/m in September. Ireland
GDP
2021Q3: 0.9% q/q
Irish GDP grew marginally by 0.9% q/q in the third quarter of 2021, after exceptional growth of 5.2% in the second quarter and 10% in the first (adjusted numbers). Belgium
Retail Sales
Oct. 2021: 6.8% m/m
Brazil
Industrial Production
Oct. 2021: -6.2% y/y
Brazil’s industry reported an annual contraction in October as activities are still affected by the effects of COVID-19 and global supply disruptions. Canada
Labor Force Survey
Nov. 2021: 6.0%
The Bank of Canada will likely be moving up its timeline for policy-tightening following a huge job gain in November. United States
Employment Situation
Nov. 2021: 210,000 m/m
Payroll gains disappointed in November, but the report overall was mixed. United States
Moody’s Analytics & CNN Business Back-to-Normal Index
December 01: 90.3
As expected, the Moody’s Analytics & CNN Business Back-to-Normal Index took a sizable step backward due to the holiday. United States
Factory Orders (M3)
Oct. 2021: 1.0% m/m
U.S. factory orders increased 1% in October following a 0.5% gain in September. United States
ISM Nonmanufacturing Index
Nov. 2021: 69.1
The U.S. nonmanufacturing sector expanded in November for the 18th month in a row. Australia
Datium Insights - Moody’s Analytics Used Vehicle Price Index
Nov. 2021: 14.3% y/y
Australian used-vehicle price appreciation accelerated again in November. Uruguay
Consumer Price Index
Nov. 2021: 7.9% y/y
Uruguayan inflation continued fluctuating above the 7% upper limit in November and came in at 7.86% y/y. United States
Semiconductor Billings
Oct. 2021:
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