| Today's Economy
Economic Roundup: U.S. Initial Claims Raise Red Flag for Employment Initial claims increased 55,000 to 286,000 in the week ended January 15. LatAm Daily Briefing: Mexico’s Timid Reaction to Inflation The central bank's tepid actions allow inflation to run rampant. Capital Market View: Fed May Signal Hikes Replaced By Balance Sheet Runoff Financial market conditions tightened the last time the Fed let its balance sheet decline. Europe Daily Briefing: Euro Zone Inflation Hits Record High The energy segment contributed the most to December’s 5% year-over-year consumer price rise. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Employment Outlook: Still Bright Moody’s Analytics expects the economy to reach full employment by the end of 2022. U.S. Claims Data Cast Harsh Light On Omicron-Stricken Regions The pickup is being driven disproportionately by the Northeast and states with more cases. Global Vaccine Tracker: A Billion U.S. Tests The COVID-19 Omicron variant's adverse effect on the U.S. economy is increasingly visible. Germany Outlook: Supply Chains, Semiconductors and Autos At best, vehicle production will improve slightly over the near term. » VIEW MORE COMMENTARY
Today's Economic Indicators
Netherlands
Unemployment
Dec. 2021: 3.8%
The unemployment rate increased slightly to 3.8% in December. Austria
Consumer Price Index
Dec. 2021: 4.3% y/y
Austrian inflation took a breather and stabilized just above 4% in December. Hong Kong SAR (China)
Consumer Price Index
Dec. 2021: 2.4% y/y
Hong Kong’s headline Composite Consumer Price Index rose by 2.4% over the year in December, a 0.6-percentage point increase from November. Norway
Monetary Policy
Jan. 2022: 0.50%
Norges Bank left its sight deposit rate unchanged at 0.5% at its January meeting. Euro Zone
Consumer Price Index
Dec. 2021: 5% y/y
The euro zone’s harmonized index of consumer prices rose by 5% y/y in December, following a 4.9% increase in the previous month. United States
Philadelphia Fed Survey
Jan. 2022: 23.2
The Philly Fed’s Manufacturing Business Outlook Survey showed growth accelerated from December, with the headline diffusion index rising from 15.4 to 23.2. United States
Jobless Claims
January 15: 286,000
The Omicron variant of COVID-19 is hurting the U.S. labor market, but the good news is that this will be temporary. Canada
ADP Canada National Employment Report
Dec. 2021: 19,248
Employment growth in December edged forward by 19,200 positions after a healthy 231,800 gain in November. Mexico
Employment Situation
Dec. 2021: 3.5% Unemployment
As anticipated, Mexico's unemployment rate declined at the end of the year as the economy created a few more jobs. In December the unemployment rate reached 3.5% after 3.7% in the previous month and 3.5% a year before. United States
Existing-Home Sales
Dec. 2021: 6.18 mil, SAAR
Existing-home sales dropped 4.6% in December to 6.18 million units annualized. United States
St. Louis Fed Financial Stress Index
January 14: -0.82
U.S. financial market conditions remain supportive, but uncertainty surrounding inflation and monetary policy has resulted in a bumpy start to 2022 for equity markets. United States
Natural Gas Storage Report
January 14: -206 bil cubic feet
Last week’s draw in natural gas stocks beat analyst predictions, so this report should help support prices. China
Foreign Trade
Dec. 2021: US$94.5 bil
United States
Oil Inventories
January 14: 413.8 mil barrels
An unexpected increase in crude stocks will be a net negative on oil prices. United States
Semiconductor Billings
Nov. 2021: 1.5%
Global semiconductor sales continue to rise at a rapid pace. Japan
Consumer Price Index
Dec. 2021:
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