Economy.com: Daily Update
| Wednesday, January 04, 2023 |
| Today's Economy
Economic Roundup: Contrasting Signals The ISM manufacturing index fell again, and job openings remain stubbornly high. LatAm Daily Briefing: Paraguay’s Outlook: Partially Cloudy After the Storm Will a fragile recovery be enough to escape recession? Europe Daily Briefing: Euro Zone PMI Revised Higher The euro zone economy is still in contraction, though to a much softer degree. Economic Roundup: Kicking Off 2023 The U.S. economy will struggle this year, although we expect a recession will be averted. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Chartbook: All About Demand Cooling markets for housing, oil and imported goods are among drivers of the softening outlook. Slowcession The U.S. economy is sure to have a difficult 2023 as the Federal Reserve continues to aggressively push up interest rates to quell the painfully high inflation. Dodging Europe's Gas Crisis Risks remain elevated, and the price of natural gas will remain high throughout 2023. U.S. Weekly Highlights and Preview, December 30, 2022 We expect job gains continued to cool in December with the unemployment rate holding steady at 3.7%. » VIEW MORE COMMENTARY
Today's Economic Indicators
Switzerland
Consumer Price Index
Dec. 2022: 2.8%
Switzerland’s inflation rate decelerated this December to 2.8% y/y from 3% in November. Hong Kong SAR (China)
Retail Sales
Nov. 2022: -4.2% y/y
In November, retail sales values in Hong Kong fell 4.2% year over year to HKD29.5 billion; both market and our expectations were for Hong Kong to build on its October growth. United States
MBA Mortgage Applications Survey
December 30: -10.3%
Mortgage activity slid sharply in the last week of the year, falling 10.3%. United States
ISM Manufacturing Index
Dec. 2022: 48.4
For consecutive months, U.S. manufacturing activity is shown to have contracted. United States
Moody's Analytics Inflation Expectations Pulse
January 01: 2.86%
Inflation expectations ticked down in the first reading of 2023, though they remain elevated. United States
Job Openings and Labor Turnover Survey
Nov. 2022: 10,458 ths
The labor market is moderating but doing so at a snail’s pace. Australia
Datium Insights - Moody’s Analytics Used Vehicle Price Index
Dec. 2022: -3.4% y/y
Used-vehicle prices decreased for the seventh consecutive month. United States
FOMC Minutes
Dec. 2022:
Minutes from December's Federal Open Market Committee meeting offer additional insight into the committee’s evolving approach to reining in inflation. Philippines
Consumer Price Index
Dec. 2022:
China
Foreign Trade
Dec. 2022:
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