| Today's Economy
Economic Roundup: Down Goes Consumer Confidence The Conference Board’s consumer confidence index plummeted in February, as inflation expectations surged to a near two-year high. Europe Daily Briefing: Contraction Confirmed Germany ended 2024 on a sour note, with full-year and last quarter real GDP declining 0.2%. Asia-Pacific Daily Briefing: Bank of Korea Cuts Again The policy rate has fallen a cumulative 75 basis points in five months. Economic Roundup: Merz Headed to German Chancellorship The German election results were mostly as expected. Next comes coalition talks. » VIEW MORE TODAY'S ECONOMY
Commentary
Global Energy Outlook: From the Top on Down We expect the price of Brent to average $76 per barrel in 2025, down from $80 in 2024. U.S. Employment Outlook: New Year, New Data Policy changes could profoundly impact the labor market. U.S. Auto Credit Market Feels Winter Chill, but Better Weather Awaits Demand for auto loans softened through the fourth quarter of 2024. U.S. Credit Outlook: Balancing Act Mortgage delinquency rates are expected to rise modestly but stabilize near 2019 levels. » VIEW MORE COMMENTARY
Today's Economic Indicators
Taiwan (China)
Industrial Production
Jan. 2025: 5.1% y/y
Taiwan's industrial production was up 5.1% in January from a year earlier. Hong Kong SAR (China)
Foreign Trade
Jan. 2025: HKD2.1 bil
Hong Kong's merchandise trade recorded a tiny surplus of HKD2.1 billion in January. Germany
GDP
2024Q4: -0.2% q/q
The German economy contracted 0.2% in the fourth quarter of 2024 compared with the previous quarter. United States
Philadelphia Fed Nonmanufacturing Survey
Feb. 2025: -12.9
In February, service-sector activity contracted in the Fed’s Third District, according to the latest Nonmanufacturing Business Outlook Survey from the Philly Fed. United States
S&P CoreLogic Case-Shiller® Home Price Indexes
Dec. 2024: 4.5% y/y
U.S. house prices climbed in December. United States
FHFA Purchase-Only House Price Index
Dec. 2024: 4.7% y/y
The Federal Housing Finance Agency Purchase-Only House Price Index was up 4.7% in December on a year-ago basis. United States
Conference Board Consumer Confidence
Feb. 2025: 98.3
Consumer confidence plummeted in February. United States
Richmond Fed Manufacturing Survey
Feb. 2025: 6
In February, manufacturing improved in the Federal Reserve’s Fifth District. United States
Texas Service Sector Outlook Survey
Feb. 2025: 8.2
Texas service sector activity continued to rise at a moderate pace in February. Uncertainty was relatively low and stable, though employment was flat. Concern about high and rising input prices remained high. Argentina
Economic Activity Indicator
Dec. 2024: 5.5% y/y
The statistics office’s monthly economic output index (a proxy for GDP) increased 5.5% year on year in December after 0.4% in the previous month. Australia
Consumer Price Index
Jan. 2025:
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