| Today's Economy
Economic Roundup: Dude, Where's My IRS Tax Refund? Refunds are well behind those seen in each of the prior two years. IRS Refunds Have Gone MIA Delays and smaller checks could hurt sentiment and spending in February. Wholesale Inventories Boost Our Estimate of Q4 GDP U.S. growth is now on track to rise 2% at an annualized rate for the last quarter. More Breathing Room for U.S.-China Trade Talks Much uncertainty remains after President Trump announced an extension of the tariff deadline. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Consumer Outlook: Spending Growth Apparently Slowing Nominal income is the only important driver not weakening. U.S. Weekly Highlights and Preview, February 22, 2019 Our high-frequency GDP model suggests that fourth quarter growth is tracking 1.7% at an annualized rate. Europe Weekly Highlights and Preview, 22 February, 2019 Euro zone joblessness likely managed to hold steady at 7.9%, its lowest in more than 10 years. Asia-Pacific Weekly Highlights and Preview, 22 February, 2019 India's GDP growth likely rose to 7.2% y/y in Q4; Chinese manufacturing remains near a 3-year low. » VIEW MORE COMMENTARY
Today's Economic Indicators
United States
Chicago Fed National Activity Index
Jan. 2019: -0.43
The pace of U.S. economic activity slowed in January. Mexico
Economic Activity Index
Dec. 2018: 0.0%
Economic activity decelerated further at the end of the year as the federal budget slowed at the start of the new administration. Mexico
GDP
2018Q4: 1.7%
Mexico’s economy decelerated at the end of 2018, as is typical during a political transition. World
Moody's Analytics Survey of Business Confidence
February 22: 12.8
Global business sentiment continues to slump. United States
Wholesale Trade (MWTR)
Dec. 2018: 1.1%
Stockpile growth shifted into higher gear in December. United States
Texas Manufacturing Outlook Survey
Feb. 2019: 13.1
Texas factory activity continued to rise in February. Argentina
Retail Sales Index
Dec. 2018: 25.7%
Retail sales at Buenos Aires’ largest shopping centers continue to fall in real terms amid rising prices, deteriorating confidence, and more restrictive credit conditions. South Korea
Consumer Sentiment Index
Feb. 2019: 99.5
» VIEW MORE ECONOMIC INDICATORS | 
