| Today's Economy
Economic Roundup: Final 2022 U.S. Jobs Report The U.S. added an extraordinary 4.5 million jobs in 2022, but a slowdown is underway. Price and Wage Growth Strengthen Among U.K. Firms Further rate increases will be necessary in early 2023, in line with our baseline expectation. Canada Weekly: Bountiful Harvest Canadian farm yield is nearing a record high, which could translate to higher export volume. Capital Market View: Adieu to 2022 Bond, stock and cryptocurrency investors alike are nursing heavy losses over the past 12 months. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Jobs Report Cont'd: Much for the Fed to Like The labor market is undergoing a steady loosening. Latin America Weekly Highlights and Preview, January 6, 2023 At the end of 2022, Peruvian inflation tilts upward while Chile’s inflation drops. Euro Zone Inflation Decelerates Further Core prices keep inching up, keeping hawks alive at the ECB. U.S. Inflation Tracker: Fed Awaits More Evidence The central bank will keep communications hawkish. » VIEW MORE COMMENTARY
Today's Economic Indicators
France
Household Consumption Survey
Nov. 2022: 0.5% m/m
Household goods consumption in France rebounded by 0.5% m/m in November, following an upwardly revised 2.7% decline in the previous month. Taiwan (China)
Consumer Price Index
Dec. 2022: 2.7% y/y
In December, Taiwan's headline consumer price index rose 2.7% year on year. Germany
Retail Sales
Nov. 2022: 1.1% m/m
German real retail sales expanded 1.1% m/m on a seasonally adjusted basis in November, following a fall of 2.8% in October. Switzerland
Retail Sales
Nov. 2022: -1.3% y/y
Retail sales in Switzerland were down by 1.3% y/y this November. Denmark
Unemployment rate
Nov. 2022: 2.6%
The Danish unemployment rate measured 2.6% in November. Norway
Industrial Production
Nov. 2022: -0.9% m/m
Norwegian industrial production fell 0.9% in November from October. Euro Zone
Business and Consumer Sentiment
Dec. 2022: 95.8
In December, the euro zone’s economic sentiment index recovered to 95.8 from 94 in November. Euro Zone
Preliminary Consumer Price Index
Dec. 2022: 9.2% y/y
According to preliminary estimates, the euro zone’s inflation dropped to 9.2% y/y in December, down from 10.1% in November. Euro Zone
Retail Sales
Nov. 2022: 0.8% m/m
In November, euro zone retail sales rose by 0.8% m/m after collapsing by 1.5% in October. Chile
Consumer Price Index
Dec. 2022: 12.79% y/y
Chile’s annual inflation declined at the end of the year after an unexpected rebound in November. Belgium
Retail Sales
Nov. 2022: -6% y/y
In November, Belgium’s volume of sales excluding fuels decreased by 6% year over year, following a similar 6.5% drop in October. Ireland
Retail Sales
Nov. 2022: 3.5% m/m
Irish retail sales increased by 3.5% month over month in November after revised 0.2% growth in October. United States
Employment Situation
Dec. 2022: 223,000 m/m
The labor market remains resilient but is slowly moderating. Canada
Labor Force Survey
Dec. 2022: 5.0%
Employment growth surged in the final month of 2022 and the better-than-expected performance will likely have implications for monetary policymaking. Canada
Purchasing Managers' Index
Dec. 2022: 33.4
The Ivey Purchasing Managers' Index dropped drastically in December to 33.4 from 51.4 in November, falling below the cutoff point of 50 that demarcates expansion and contraction territory for economic activity. United States
Factory Orders (M3)
Nov. 2022: -1.8% m/m
U.S. factory orders declined 1.8% from October to November to $9.8 billion, which is lower than our already well-below consensus forecast of -1.6%. United States
ISM Nonmanufacturing Index
Dec. 2022: 49.6
December’s ISM nonmanufacturing index delivered a surprise to the downside. China
Foreign Trade
Dec. 2022:
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