| Today's Economy
Economic Roundup: More Time Needed for the ECB The central bank's obvious move would be to expand quantitative easing. Limited Upside for U.S. Long-Term Rates Central bank easing and the search for yield determine how high the 10-year yield can go. Election Model Update: A Move Toward Trump in U.S. Race Republicans add a state to the latest electoral count. More Good News on U.S. Housing Existing-home sales hit a cyclical high in June. » VIEW MORE TODAY'S ECONOMY
Commentary
Latin America Economic Preview: 25-29 July Mexico's economic activity is growing, but stays below capacity. Asia-Pacific Economic Preview: 25-29 July The Bank of Japan is set to reload its stimulus measures. Euro Zone Outlook: In the Shadow of Britain's Exit The U.K. departure vote and Italy’s banking sector problems could reshape Europe’s future. Netherlands Outlook: Looking Up in the Lower Country The economy will expand because of strong exports and a growing population. » VIEW MORE COMMENTARY
Today's Economic Indicators
Indonesia
Monetary Policy
Jul. 2016: 6.5%
Bank Indonesia kept the powder dry after surprising with rate cuts at its previous meeting. France
Business Survey
Jul. 2016: 103
French manufacturers’ sentiment added 1 point to 103 in July from 102 in the previous month. United Kingdom
Retail Sales
Jun. 2016: 4.4%
U.K. retail sales rose 4.3% y/y in June, up from a revised 5.7% increase in the previous month. Spain
Foreign Trade
May. 2016: -€0.9 bil
Spain’s monthly trade deficit narrowed to €941 million in May from a revised €1.7 billion in the same month of the previous year. Euro Zone
Monetary Policy
Jul. 2016: 0%
The European Central Bank kept all three policy rates and monthly asset purchases on hold in July, despite weak inflation and decelerating economic growth after the U.K. vote to exit the EU. United States
Chicago Fed National Activity Index
Jun. 2016: 0.16
The pace of U.S. economic growth improved in June thanks to a sharp rebound in production-related indicators, according to the Chicago Fed National Activity Index, which increased to 0.16 from -0.56 in May. United States
Jobless Claims
July 16: 253,000
After remaining constant, initial claims resumed their trend and fell 1,000 from the previous week's unrevised level to 253,000 in the week ended July 16. United States
Industry GDP
2016Q1: 1.2 ppt, SAAR
Not only was GDP growth disappointing in the first quarter, but weakness was fairly broad-based, with only 11 of 22 industry groups contributing positively to growth. Canada
Wholesale Trade
May. 2016: 1.8%
Wholesale sales increased 1.8% to C$55.9 billion in May. United States
Philadelphia Fed Survey
Jul. 2016: -2.9
The Philadelphia Fed Manufacturing Business Outlook Survey ticked down in July, to just slightly below the neutral threshold. United States
FHFA Purchase-Only House Price Index
May. 2016: 5.6%
The FHFA purchase-only house price index bested expectations in May. United States
Conference Board Leading Indicators
Jun. 2016: 0.3%
A rebound in payroll employment in June neutralized sour expectations. United States
Existing-Home Sales
Jun. 2016: 5.57 mil
Existing-home sales had a good month in June, climbing 1.1% compared with May and by 3% compared with June 2015; the U.S. housing market tightened as listings did not increase appreciably. United States
St. Louis Fed Financial Stress Index
July 15: -1.14
Financial market conditions are improving thanks to a bounceback in the U.S. economy in the second quarter. United States
Natural Gas Storage Report
July 15: 34 bil cubic feet
Natural gas inventories built by less than analysts expected, which will put upward pressure on prices. United States
SEMI Book-to-Bill Ratio
Jun. 2016:
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