| Today's Economy
Economic Roundup: A Lot to Like Rising energy prices pushed up December’s CPI, but details elsewhere were encouraging. LatAm Daily Briefing: Venezuela’s Political Outlook Remains Unchanged A defiant Maduro assumes the presidency—complicating the Trump administration’s relations with Venezuela. Europe Daily Briefing: U.K. Inflation Relief Most encouraging was that core inflation was the driving force lower in December. Asia-Pacific Daily Briefing: South Korea’s Unemployment up in December Signs still point to a resilient job market. » VIEW MORE TODAY'S ECONOMY
Commentary
Europe Chartbook: Feeling Blue at Year's End Data looked poor at the end of 2024, but better news is expected later in 2025. U.S. Consumer Payment Hierarchy Impacted by Major Shocks Consumers are fairly set in their ways. U.S. Agriculture Faces a Fragile Future Economic and policy shifts cloud the outlook for farmers. Fannie and Freddie’s Implicit Guarantee—Another Iceberg on the Path to Privatization Conservatorship must ultimately come to an end, but it should only be done in a way that actually improves the system. » VIEW MORE COMMENTARY
Today's Economic Indicators
United Kingdom
Consumer Price Index
Dec. 2024: 2.5% y/y
Consumer price inflation was 2.5% in December, down from 2.6% in November. Indonesia
Monetary Policy
Jan. 2025: 5.75%
Bank Indonesia surprisingly cut the BI rate by 25 basis points in its January meeting, bringing it to 5.75%. France
Consumer Price Index
Dec. 2024: 1.3% y/y
The final CPI release for December confirms that France's inflation rate was unchanged from the previous month, at 1.3% year over year. Spain
Consumer Price Index
Dec. 2024: 2.8% y/y
Spain's CPI inflation rate rose to 2.8% year over year in December, up from 2.4% in November. Sweden
Consumer Price Index
Dec. 2024: 0.8% y/y
Sweden’s CPI inflation rate tumbled to 0.8% y/y in December from 1.6% in November. Euro Zone
Industrial Production
Nov. 2024: 0.2% m/m
The euro zone’s industrial production increased 0.2% m/m in November, adding to a similarly modest, though upwardly revised, 0.2% gain in October. India
Foreign Trade
Dec. 2024: -US$21.9 bil
India’s merchandise trade deficit narrowed to $21.9 billion in December from an all-time high of $37.8 billion the prior month. United States
MBA Mortgage Applications Survey
January 10: 33.3%
Substantial increases in both purchases and refinancing volumes boosted mortgage activity 33.3% in the week ending January 10. United States
NY Empire State Manufacturing Survey
Jan. 2025: -12.6
The new year has started off on a sour note for factories in New York, according to the most recent Empire State Manufacturing Survey. United States
Consumer Price Index
Dec. 2024: 0.4% m/m
December’s consumer price index was mostly good news. Canada
Survey of Manufacturing
Nov. 2024: 0.8% m/m
Total manufacturing sales rose again in November, increasing 0.8% to $71.5 billion. Canada
New Motor Vehicle Sales
Nov. 2024: 11.3% y/y
New-vehicle unit sales declined in November for the second consecutive month. Canada
Wholesale Trade
Nov. 2024: -0.6% m/m
Wholesale sales dipped in November, following the previous month's solid gain. World
Moody's Analytics Global GDP
2024Q3: 2.4% q/q SAAR
Global GDP growth slowed moderately in the third quarter of 2024, according to the second estimate of Moody's Analytics. United States
Oil Inventories
January 10: 412.7 mil barrels
Commercial crude oil inventories fell by 2 million barrels in the week ended January 10, a larger draw than the 1.1 million barrels the consensus forecast. United States
Semiconductor Billings
Nov. 2024: 1.7%
As expected, global semiconductor billings growth slowed in the second-to-last month of the year. United States
Cox Automotive/Moody’s Analytics Vehicle Affordability Index
Dec. 2024: 38.2 weeks, NSA
New-vehicle affordability declined in December. Peru
Unemployment
Dec. 2024: 5.5%
The unemployment rate in the Lima metropolitan area closed out the year near historic lows, capping a comeback year for the labor market after the recession of 2023 and lingering woes at the outset of the past year. Russian Federation
Consumer Price Index
Dec. 2024: 9.5% y/y
Russia’s annual inflation rate accelerated to 9.5% year over year in December from 8.9% in November, slightly below market forecasts of 9.7%. United States
Beige Book
Jan. 2025:
U.S. economic activity increased in the final weeks of 2024, according to the Federal Reserve’s January Beige Book. Australia
Employment Situation
Dec. 2024:
South Korea
Monetary Policy
Jan. 2025:
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