Today's Economy

Our Europe office will reopen Monday, January 3; Americas and Australia offices will reopen Tuesday, January 4.

South Korea was latest to join the Regional Comprehensive Economic Partnership.

The U.S. dollar's value and status as the world's leading reserve currency remain strong.

France's labor market improved ahead of a tough winter.

Commentary

South Korea's exports will hold strong in December thanks to demand for semiconductors.

U.S. state and local current receipts have surpassed current expenditures in their longest streak since the 1970s.

We consider a property crash, a deteriorating COVID-19 situation, and early rate hikes in 2022.

The cartel could decide it is better served pumping less oil so that it can fetch higher prices.

Today's Economic Indicators

Netherlands
Retail Sales
Nov. 2021: 4.2% y/y
Retail sales turnover growth in the Netherlands increased to 4.2% y/y in November despite a decline in consumer confidence.

Chile
Employment
Nov. 2021: 7.5%
The national unemployment rate averaged 7.5% in the September-November rolling quarter, down from 10.8% a year earlier.

Chile
Manufacturing Production
Nov. 2021: 5.01% y/y
The manufacturing industry reported further gains in November, with production showing an annual rebound.

United States
Moody’s Analytics & CNN Business Back-to-Normal Index
December 29: 86.8
The Moody’s Analytics & CNN Business Back-to-Normal Index took a dive this week, though this was anticipated because of the holidays.

World
Moody's Analytics Global Risk of Recession
Oct. 2021: 26.1%
After pausing for a month in September, global recession risks continued their upward climb.

Chile
Retail & Wholesale Sales
Nov. 2021: 13.6% y/y
Hot out of the frying pan may not be the best way to describe Chilean retail and wholesale spending in November, but it comes close, with retail sales scraping record highs for the seventh consecutive month.