| Today's Economy
Economic Roundup: U.S. Starts Jump but Signs Point Toward Some Moderation Housing starts leap but gap between single-family starts and permits isn't favorable. LatAm Daily Briefing: Slow Progress on Mexico Employment The unemployment rate decreased to 3.8% in December from 4.4% in November. Europe Daily Briefing: The ECB Takes a Wait-and-See Approach The ECB holds its monetary policy steady in January. Asia-Pacific Daily Briefing: Japan's Exports Rebounded in December Australia's labour market performed well in the last month of 2020. » VIEW MORE TODAY'S ECONOMY
Commentary
What Is Budget Reconciliation? Democrats' razor-thin majority put budget reconciliation in play, but it won’t be a smooth process. U.S. Consumer Auto Lending Finishes a Tumultuous Year With Steady Growth Auto credit balances were able to rise and delinquencies remained low through the end of 2020. Initial Claims Hint at Trouble Spots Across U.S. Restrictions and virus spread are both to blame for a pickup in unemployment. State and Local Policymakers Breathing a Bit Easier Changing assumptions are creating a more manageable mess. » VIEW MORE COMMENTARY
Today's Economic Indicators
Indonesia
Monetary Policy
Jan. 2021: 3.75%
Bank Indonesia kept its monetary settings on hold at its first meeting in 2021, as expected. Euro Zone
Monetary Policy
Jan. 2021: 0%
As expected, the European Central Bank’s interest rates and asset purchase programs remained unchanged after its January meeting. Mexico
Employment Situation
Dec. 2020: 3.8% Unemployment
Mexico’s unemployment continued to adjust down at the end of the year as the economy’s reactivation advanced a little further. United States
Jobless Claims
January 16: 900,000
U.S. initial claims for unemployment insurance need to be taken with a grain of salt as the past several weeks have been distorted by seasonal adjustment issuances around the holidays. Canada
ADP Canada National Employment Report
Dec. 2020: -28,837
The labor market took a step back in December, according to ADP's survey. Canada
New Housing Price Index
Dec. 2020: 4.6%
House price appreciation is beginning to cool following its stimulus-infused surge. United States
Philadelphia Fed Survey
Jan. 2021: 26.5
Growth in manufacturing activity continues to whipsaw in the Federal Reserve’s Third District. United States
New Residential Construction (C20)
Dec. 2020: 1.669 mil
The U.S. housing market remained hot in December, but some more timely indicators suggest that it has lost some momentum this year. United States
Median usual weekly earnings
2020Q4: 5.1%
Despite a significant amount of slack in the labor market, U.S. nominal wage growth posted another solid gain in the fourth quarter. United States
St. Louis Fed Financial Stress Index
January 15: -0.74
The St. New Zealand
Consumer Price Index
2020Q4:
Japan
Consumer Price Index
Dec. 2020:
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