| Today's Economy
Economic Roundup: Developments in the Trade Standoff U.S. to delay tariffs on Mexico following an agreement regarding the U.S.-Mexico border. Trump's New Tariffs Will Push Mexico Into Recession Mexico will be hurt more than the U.S. given its dependence on exports. Tariffs Hit U.S. Energy Consumers U.S. energy producers could also be affected. LatAm Daily Briefing: Tariff Bumper Cars Despite a temporary reprieve, tariffs will eventually impede economic growth in Mexico and in all of LatAm. » VIEW MORE TODAY'S ECONOMY
Commentary
The Trade War Commences The nascent trade war will fuel higher inflation, raise interest rates, and curtail economic growth—but to what end? The GCC's Resilient Housing Market Housing in the Gulf Cooperation Council countries has remained strong in the face of global headwinds. U.S. Chartbook: Signs of the Times The U.S. economy slowed at the end of 2024, but growth remained above trend. Europe Chartbook: Euro Zone Mixed Bag GDP data were grim, but low unemployment leaves hope for consumers in 2025. » VIEW MORE COMMENTARY
Today's Economic Indicators
Hong Kong SAR (China)
GDP
2024Q4: 2.4% y/y
Hong Kong’s growth underwhelmed in 2024 with advance estimates coming in at 2.5% y/y. Hong Kong SAR (China)
Retail Sales
Dec. 2024: -9.7% y/y
Last year was a year of decline for Hong Kong retailers, with annual retail sales falling a preliminary 7.3% y/y. Euro Zone
Preliminary Consumer Price Index
Jan. 2025: 2.5% y/y
The euro zone’s HICP inflation rate increased to 2.5% y/y in January from 2.4% in December. Chile
Monthly Economic Activity Indicator
Dec. 2024: 6.6% y/y
Economic activity ended the year on a strong positive note, propelled by the rebound in industrial production and mining. United States
Construction Spending (C30)
Dec. 2024: 0.5% m/m
In December, construction spending in the U.S. was estimated at a seasonally adjusted annual rate of $2.192 trillion. World
Moody's Analytics Survey of Business Confidence
January 31: 26.8
Global business sentiment is strong. United States
ISM Manufacturing Index
Jan. 2025: 50.9
U.S. manufacturing activity expanded in January following 26 straight months of contraction. Peru
Consumer Price Index
Jan. 2025: 1.85% y/y
The consumer price index for the Lima metropolitan area registered a surprise drop in January on a monthly basis, pulling annual inflation down to 1.85%. United States
Senior Loan Officer Opinion Survey
2025Q1: 9.4%
Lending standards, according to the latest Senior Loan Officer Opinion Survey from the Federal Reserve, remain tight. » VIEW MORE ECONOMIC INDICATORS | 
