| Today's Economy
Economic Roundup: U.S. Growth Tracks at 3% Our high-frequency GDP model points to solid growth in the final quarter of 2024. U.S. High-Frequency GDP Update: Strong but Slower New trade data lowered our estimate for fourth-quarter real GDP growth. Mild Disappointment on Euro Zone Inflation The biggest culprits were the service and energy categories. Europe Daily Briefing: Inflation Perks Up We think the ECB will still cut interest rates at its 30 January meeting. » VIEW MORE TODAY'S ECONOMY
Commentary
The Netherlands Outlook: Sustaining Growth in Uncertain Times The economy is expected to move forward, but growth will be subdued due to weak external demand. Trudeau’s Resignation and Canada’s Outlook A likely switch to CPC control reinforces our weak outlook for federal spending. U.S. Chartbook: Slow and Steady Into the New Year Heightened uncertainty clouds the outlook for manufacturing. Euro Zone Outlook: Dancing on the Edge Our baseline forecast expects continued subdued growth, but it is almost as likely that the region slips into recession. » VIEW MORE COMMENTARY
Today's Economic Indicators
Switzerland
Consumer Price Index
Dec. 2024: 0.6%
Switzerland’s CPI inflation rate slowed to 0.6% y/y in December from 0.7% in November. Taiwan (China)
Consumer Price Index
Dec. 2024: 2.1% y/y
Taiwan’s inflation held at 2.1% y/y, while we and the consensus expected headline inflation to cool slightly. Italy
Unemployment
Nov. 2024: 5.7%
In November, Italy’s unemployment rate fell to a record-low 5.7%, beating our forecast of 5.8%, thanks to a 24,000 drop in joblessness. Euro Zone
Preliminary Consumer Price Index
Dec. 2024: 2.4% y/y
According to preliminary estimates, the euro zone’s HICP inflation rate accelerated to 2.4% y/y in December from 2.2% in November. Euro Zone
Unemployment
Nov. 2024: 6.3%
The euro zone unemployment rate was unchanged at 6.3% in November, the fourth month in a row it has remained at this historical low value. United States
International Trade (FT900)
Nov. 2024: -$78.2 bil
The U.S. trade deficit in goods and services widened to $78.2 billion in November, up $4.6 billion from $73.6 billion (revised) in October. Canada
International Merchandise Trade
Nov. 2024: -C$ 0.32 bil
Canada's merchandise trade exports in November increased 2.2%, while imports increased by 1.8%. Canada
Purchasing Managers' Index
Dec. 2024: 54.7
In December, the Ivey Purchasing Managers’ Index rose from 52.3 to 54.7. United States
Job Openings and Labor Turnover Survey
Nov. 2024: 8,098 ths
The November JOLTS report did little to alter our view of the labor market. United States
ISM Nonmanufacturing Index
Dec. 2024: 54.1
The U.S. service sector expanded again in December. Australia
Datium Insights - Moody’s Analytics Used Vehicle Price Index
Dec. 2024: -1.4% y/y
Australia
Consumer Price Index
Nov. 2024:
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