| Today's Economy
Economic Roundup: Omicron Leaving Mark on U.S. Labor Initial claims increase but remain fairly low. U.S. Inflation Heat Map Update Besides a slight decline in energy prices, cost pressures held firm in December. LatAm Daily Briefing: Time to Restore the Fiscal Armor Faced with reduced tax collection, LatAm governments must rethink their expenditure plans. Capital Market View: Fed Has Yield Curve on Its Mind The Fed will lean on its balance sheet to keep the yield curve from inverting. » VIEW MORE TODAY'S ECONOMY
Commentary
Pandemic Dings U.S. Population Growth A staggering 17 states plus Washington DC lost residents in 2021. Forecast Note: COVID-19 Scenario Assumptions Update Our 2022 U.S. view reflects the rising infections due to Omicron along with other evolving factors. Japan Risk Matrix Update: Stumbling Toward Recovery A high vaccination rate and Omicron's seemingly lower severity should help limit disruptions, but there is still uncertainty. Global Vaccine Tracker: Omicron and Semiconductor Chips Companies are learning to mitigate supply-chain disruptions by building inventory and exploring alternative sourcing. » VIEW MORE COMMENTARY
Today's Economic Indicators
Italy
Industrial Production
Nov. 2021: 1.9% m/m
Italy’s industrial production grew in November because of higher energy production, following a contraction in October. United States
Moody's Analytics Beige Book Index
Jan. 2022: 163.9
The Moody’s Analytics Beige Book Index fell from 180.6 in December to 163.9 in January. United States
Jobless Claims
January 08: 230,000
U.S. initial claims for unemployment insurance unexpectedly moved higher in the week ended January 8. United States
Producer Price Index
Dec. 2021: 0.2% m/m
The U.S. India
Foreign Trade
Dec. 2021: -US$21.7 bil
India’s merchandise trade deficit decreased slightly in December, down from $22.9 billion to $21.7 billion. World
Moody's Analytics Global CPI
Dec. 2021: 1.2% m/m
The Moody’s Analytics estimate of worldwide consumer price inflation picked up to 7.7% y/y in December from the downwardly revised 7% rate in November. United States
St. Louis Fed Financial Stress Index
January 07: -0.82
U.S. financial market conditions remain supportive for economic growth, but the Federal Reserve is growing increasingly concerned about inflation and financial market stability. United States
Natural Gas Storage Report
January 07: -179 bil cubic feet
Last week’s draw in natural gas stocks very closely matched analyst predictions, suggesting that this report will not have too much of an impact on prices. Canada
RPS House Price Index
Dec. 2021:
Argentina
Consumer Price Index
Dec. 2021: 50.9% y/y
The statistics office’s national consumer price index increased 3.8% in December, down from 4% a year earlier. United States
Semiconductor Billings
Nov. 2021: 1.8%
Global semiconductor sales continue to rise at a rapid pace. » VIEW MORE ECONOMIC INDICATORS | 
