| Today's Economy
Economic Roundup: Trade War—What Is It Good For? A potential trade war is just one possible drawback of new U.S. protectionist policies. Clock Is Ticking on Potential Steel and Aluminum Tariffs The U.S. president will decide on trade sanctions by April. Argentina Exceeds 2017 Primary Fiscal Target Hitting the overall deficit target will prove challenging given increases in nominal debt levels. Behind the Depreciation in the U.S. Dollar The slide could boost growth and inflation this year. » VIEW MORE TODAY'S ECONOMY
Commentary
There's More to the New U.S. Tariffs Trump's trade policies introduce a downside risk to Asia’s upbeat 2018 outlook. U.S. Chartbook: Capacity Constraints Growth is nearing its limit as equipment spending rises, construction slows, and initial claims dip. U.S. Employment Outlook: Taking Up the Slack This year will mark an inflection point for wage growth as the unemployment rate continues to fall. U.S. Weekly Highlights and Preview, January 19, 2018 Shutdown watch. » VIEW MORE COMMENTARY
Today's Economic Indicators
Taiwan (Province of China)
Domestic Trade
Dec. 2017: 3.5%
Taiwan retail sales have perked up in recent months and grew 3.5% y/y in December, after an upwardly revised 4% lift in the prior month. Taiwan (Province of China)
Industrial Production
Dec. 2017: 1.2%
Taiwan industrial production grew 1.2% y/y in December, after a 1.3% rise in November. Germany
ZEW Indicator of Economic Sentiment
Jan. 2018: 20.4
Investor confidence in Germany recovered at the start of the year, rising to 20.4 from 17.4 in December. Russian Federation
Industrial Production
Dec. 2017: -1.5%
Russian industrial production was down 1.5% from a year earlier in December, bringing final industrial production growth for 2017 to 1% year over year from 2016. Mexico
Economic Activity Index
Nov. 2017: 1.5%
Economic activity advanced at a below-potential rate in November. Euro Zone
Credit Conditions
2018Q1: -0.5%
The banking survey reports an ongoing easing of credit conditions. United States
Regional and State Employment
Dec. 2017:
The December job numbers for state and regional economies put 2017 in the books and show that the strength of the U.S. economy is evident across all regions of the country. United States
Richmond Fed Manufacturing Survey
Jan. 2018: 14
Manufacturing in the Fifth Federal Reserve District decelerated in the first month of 2018. United States
Moody’s Analytics Policy Uncertainty Index
January 19: 100.3
Policy uncertainty fell for the first time since early November but remains elevated. United States
SEMI Book-to-Bill Ratio
Dec. 2017:
Japan
Foreign Trade
Dec. 2017:
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