| Today's Economy
Economic Roundup: Inflation and Growth We expect a modest cooldown in inflation in the first month of 2025. Q1 Tracking Estimate Kicks Off Our preliminary estimate of U.S. first-quarter growth is a solid 2.5% annualized. LatAm Daily Briefing: Apprehension Over Trump’s Steel and Aluminum Tariffs Mexico, Brazil and Argentina must act cautiously to avoid a trade war. Final Thoughts Ahead of January’s CPI U.S. headline inflation likely rose 0.3% on the month, while core CPI increased 0.2%. » VIEW MORE TODAY'S ECONOMY
Commentary
Threats to U.S. Household Income Growth In addition to slower job growth, drivers of investment income also have modest prospects. Euro Zone Risk Matrix: Metal Tariffs, Then What? Trump has already brought up motor vehicles as a point of contention between the EU and the U.S. U.S. Chartbook: Moving Right Along Job growth is moderating as expected, even as consumers remain wary of inflation and rising uncertainty. The Trade War in Latin America: Opening Salvos The trade war will curb growth across Latin America. » VIEW MORE COMMENTARY
Today's Economic Indicators
Norway
GDP
2024Q4: -0.6% q/q
Norway’s GDP contracted 0.6% q/q in the fourth quarter of 2024, deepening a 1.6% decline in the third quarter, according to preliminary estimates. United States
NFIB Small Business Survey
Jan. 2025: 102.8
Main Street’s sentiment took a slight step back at the beginning of the year after soaring to a seven-year high in December. Brazil
Consumer Price Index
Jan. 2025: 4.56% y/y
Annual inflation finally receded at the start of the year after strong resilience previously, though it remained above the target’s upper limit in January. Mexico
Industrial Production
Dec. 2024: -2.4% y/y
Mexico’s industrial production ended the year in negative territory, extending the prolonged weakness caused by the political transition. Canada
Building Permits
Dec. 2024: 11% m/m
Canadian building permits surged 11% to $13.1 billion in December, primarily driven by a 21.2% rise in residential permits, especially in Ontario and British Columbia. United States
Moody's Analytics Used Vehicle Price Indexes
Jan. 2025: -2.28 % y/y
In January, Moody’s Analytics Used Sales Price Market Index declined 2.28% year over year, a 0.9% decrease from December. Australia
Datium Insights - Moody’s Analytics Used Vehicle Price Index
Jan. 2025: 0.7% y/y
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