| Today's Economy
Economic Roundup: Markets Still Bet on a Fed Cut Even with a U.S.-China trade truce, a 25-basis point rate reduction in July is fully priced in. Sentiment Pulling the ISM Lower Trade tensions are taking their toll and the U.S.-China truce may not provide a big boost. Europe Daily Briefing: U.K. Manufacturing Downturn Deepens The euro zone's manufacturing PMI fell in June, against expectations for a small rebound. Trump and Xi Call a Time Out With the truce, we now expect the status quo through the rest of this year and into next. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Chartbook: Consumers and Businesses Point in Different Directions Low inflation, though a concern at the Fed, is not the main reason the central bank may cut rates. Cost of the Central American Migrant Crisis Economic, demographic and social pressures will keep flows elevated. U.S. Weekly Highlights and Preview, June 28, 2019 We look for job growth to have bounced back in June, but the unemployment rate likely rose. Europe Weekly Highlights and Preview, 28 June, 2019 The euro zone’s job market remains robust despite the recent drop in confidence and growth numbers. » VIEW MORE COMMENTARY
Today's Economic Indicators
Japan
Consumer Confidence
Jun. 2019: 38.7
Japan's consumer confidence slumped further in June to 38.7, down from 39.4 in May. Russian Federation
GDP
2019Q1: 0.5%
Russian GDP took a beating in the first quarter, hitting a two-year low as year-over-year growth slowed to 0.5%. Italy
Unemployment
May. 2019: 9.9%
Beating all expectations, Italy’s employment situation improved significantly in May. Germany
Unemployment
Jun. 2019: 5.0%
Germany’s seasonally adjusted unemployment remained unchanged at 5% in June, after unexpectedly ticking up in May. Euro Zone
Unemployment
May. 2019: 7.5%
Beating all expectations, the euro zone’s jobless rate dropped further to only 7.5% in May, its lowest since July 2008, from 7.6% in April. Peru
Consumer Price Index
Jun. 2019: 2.3%
The consumer price index for the Lima metropolitan area rose 2.3% in June on a year-ago basis, slightly less than the year-ago increase in May and still close to the mid-range of the central bank’s 1% to 3% target. United States
Construction Spending (C30)
May. 2019: -0.8%
U.S. construction spending declined 0.8% in May, underperforming the consensus estimate of a 0.2% increase. World
Moody's Analytics Survey of Business Confidence
June 28: 7.5
Global business sentiment is sliding. United States
ISM Manufacturing Index
Jun. 2019: 51.7
Though the ISM manufacturing index fell in June, it held up better than we and the consensus expected. Brazil
Foreign Trade
Jun. 2019: US$5.02 bil
Brazil’s trade surplus fell to $5.02 billion in June from $6.42 billion in May, a decrease of $1.42 billion. South Korea
Consumer Price Index
Jun. 2019:
Australia
Monetary Policy
Jul. 2019:
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