| Today's Economy
'Tis the Season for U.S. Tax Refunds Delayed checks in January and early February are unlikely to hurt consumer spending. January U.S. Retail Sales Were Mostly a Dud We are lowering our estimates of both Q4 and Q1 GDP growth. Europe Economic Briefing: Germany Fires Ahead Growth in 2017 was the strongest since 2011. Asia-Pacific Economic Briefing: A Lot to Love About Japan's 2017 Japan's GDP expanded for an eighth straight quarter in Q4, its longest growth streak since 2001. » VIEW MORE TODAY'S ECONOMY
Commentary
CPI: The Only Thing We Have to Fear Is Fear Itself U.S. inflation is perking up, but that is a good sign. South America Under the Fed's Stress Scenarios Recessions in the region would be deeper than in the U.S. Assessing Trump's U.S. Infrastructure Plan A program that includes expanding rural broadband would be helpful, but other initiatives could be duds. U.S. Chartbook: Weathering the Turbulence Despite a dive in stock prices and deteriorating fiscal outlook, economic fundamentals are solid. » VIEW MORE COMMENTARY
Today's Economic Indicators
Canada
RPS House Price Index
Jan. 2018: 6.3%
The Canadian housing market is facing headwinds. Germany
Consumer Price Index
Jan. 2018: 1.5%
Germany's annual national measure of inflation was unchanged at 1.5% in January, seasonally adjusted, the same as at the end of last year. Thailand
Monetary Policy
Feb. 2018:
Euro Zone
Industrial Production
Dec. 2017: 0.4%
In line with our expectations but above the consensus, euro zone industrial production rose by 0.4% m/m in December, building on an upwardly revised 1.3% rise in November. United States
MBA Mortgage Applications Survey
February 09: -4.1%
Mortgage applications fell last week, as most rates continued on their path upward. United States
Retail Sales
Jan. 2018: -0.3%
Retail sales came in much weaker than expected in January, and prior sales were revised lower. United States
Consumer Price Index
Jan. 2018: 0.5%
Financial markets are on edge that inflationary pressures are set to build quickly, and the January consumer price index could fan their concerns. Canada
New Motor Vehicle Sales
Dec. 2017: -0.5%
The number of new motor vehicles sold declined by 21.1% from November to 127,734 in December, with monthly sales of both new cars and new trucks decreasing. United States
Tech Pulse
Jan. 2018: 86.8
January proved to be another good month for the U.S. tech sector. United States
Business Inventories (MTIS)
Dec. 2017: 0.4%
Stockpiles closed 2017 on a decent note. Colombia
Industrial Production
Dec. 2017: -0.8%
Manufacturing output in Colombia contracted 0.8% y/y in December, after -0.3% in November. United States
Oil Inventories
February 09: 422.1 mil barrels
A smaller than expected increase in crude oil inventories will put some upward pressure on oil prices. Uruguay
Industrial Production
Dec. 2017: -3.8%
Industrial production took another tumble in December, contracting 3.8% year over year. India
Foreign Trade
Jan. 2018:
Japan
Machinery Orders
Dec. 2017:
Singapore
Foreign Trade
Jan. 2018:
Australia
Employment Situation
Jan. 2018:
Indonesia
Foreign Trade
Jan. 2018:
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