Monday, January 20, 2025 Today's Economy Europe Daily Briefing: Surprise PPI Decline German PPI’s monthly decline in December Economic Roundup: Homebuilding Heads Higher Housing starts increased nearly 16% in December, the fastest monthly increase since 2021. Geopolitical Risk Calendar: Inauguration Security Risks U.S. security officials have elevated the risk level for the event Monday, when Donald Trump takes the presidential oath of office. Canada Weekly: Tariff Troubles Trickle Down Unraveling the direct and indirect effects of U.S. demand on jobs in Canadian industry. » VIEW MORE TODAY'S ECONOMY Commentary U.S. Weekly Highlights and Preview, January 17, 2025 The University of Michigan will release its final measure of consumer confidence for January. U.S. Road to Recession: Wait and See The Fed must now grapple with the inflationary potential of a suite of policies supported by the incoming Trump administration. Latin America Weekly Highlights and Preview, January 17, 2025 Manufacturing dips in Colombia; production ticks up in Uruguay. China Chartbook: Fourth-Quarter Wrap-Up Growth in the December stanza surged on strong exports and government spending. » VIEW MORE COMMENTARY Today's Economic Indicators Hong Kong SAR (China) Employment Situation Dec. 2024: 3.1% » VIEW MORE ECONOMIC INDICATORS NOT A SUBSCRIBER? Enjoy real-time coverage of the world's economies. » Tour Economy.com FREE 14-DAY TRIAL SURVEY OF BUSINESS CONFIDENCE Be A Part Of The Results Help shape the outcome of the Survey of Business Confidence and gain exclusive insight to shifts in global business confidence. » Learn More TAKE THE SURVEY Contact Us Visit us online, email helpeconomy@moodys.com, or use one of the numbers below: Americas +1.866.275.3266 Europe +44.20.7772.5454 Asia/Pacific +852.3551.3077 All Others +1.610.235.5299 For information on how Moody's Analytics processes and protects personal data, please see the Privacy Policy available at www.moodys.com. You are receiving this email as a subscriber to Economy.com. If you wish to unsubscribe from the Economic Roundup, please click here. This email was sent by Moody's Analytics 211 South Gulph Road, Suite 125 King of Prussia United States

---

Moody's monitors email communications through its networks for regulatory compliance purposes and to protect its customers, employees and business and where allowed to do so by applicable law. The information contained in this e-mail message, and any attachment thereto, is confidential and may not be disclosed without our express permission. If you are not the intended recipient or an employee or agent responsible for delivering this message to the intended recipient, you are hereby notified that you have received this message in error and that any review, dissemination, distribution or copying of this message, or any attachment thereto, in whole or in part, is strictly prohibited. If you have received this message in error, please immediately notify us by telephone, fax or e-mail and delete the message and all of its attachments. Every effort is made to keep our network free from viruses. You should, however, review this e-mail message, as well as any attachment thereto, for viruses. We take no responsibility and have no liability for any computer virus which may be transferred via this e-mail message.