| Today's Economy
Economic Roundup: High Rates and Builder Incentives Buoy New-Home Sales While new-home sales inched lower in June, they are about in line with the pre-pandemic average. LatAm Daily Briefing: Expectations for Venezuela’s Presidential Election If the opposition party wins, it’s uncertain if President Nicolás Maduro would concede. Final Thoughts Ahead of Q2 U.S. GDP Our high-frequency model expects that the first quarter’s 1.4% growth was repeated in the second stanza. Inside Economics Podcast: Episode 173—Faucher on the Fed and Fiscal Policy PNC Chief Economist Gus Faucher says progress on inflation and other factors mean "things looking good right now." » VIEW MORE TODAY'S ECONOMY
Commentary
U.K. Outlook: Early-Year Strength to Fade Persistent inflation, a hesitant central bank, and continued tight fiscal policy point to a coming slowdown. China's Bond Rally a Reason for Fiscal Caution Depressing yields add to bond risk, limiting Beijing's capacity for fiscal stimulus. U.S. Employment Outlook: Signs of Slowing The health of the labor market has underpinned the economy, but the recent trend in claims for unemployment insurance warrants close monitoring. LatAm Outlook: Two Lanes, One Speed High global rates, policy uncertainty, and low productivity all handicap the outlook. » VIEW MORE COMMENTARY
Today's Economic Indicators
Malaysia
Consumer Price Index
Jun. 2024: 2.0% y/y
Malaysian headline inflation held steady at 2% year over year in June, coming in slightly below our and the consensus expectations. United States
MBA Mortgage Applications Survey
July 19: -2.2%
Mortgage activity took a step backward in the week ended July 19. United States
Advance Wholesale and Retail Inventories
Jun. 2024: 0.2% m/m
Advance estimates from the Census Bureau show that wholesale inventories increased 0.2% in June following a 0.6% increase in May. United States
International Trade in Goods - Advanced
Jun. 2024: -$96.8 bil
The U.S. deficit in international goods trade shrank to $96.8 billion in June from $99.4 billion in May, reversing the recent trend of widening deficits. Canada
New Housing Price Index
Jun. 2024: -0.2% y/y
The national housing price index in Canada decreased 0.2% in June from the previous month. Canada
Monetary Policy
Jul. 2024: 4.5%
The Bank of Canada followed up June's rate cut with another in July. United States
Business Employment Dynamics
2023Q4: 7.8 mil
In the final quarter of 2023, gross job gains totaled 7.8 million in the U.S. United States
New-Home Sales
Jun. 2024: 617,000 SAAR
The number of new-home sales in June was largely unchanged from the prior month. United States
Oil Inventories
July 19: 436.5 mil barrels
A larger-than-anticipated decline in oil inventories could put some upward pressure on prices. Argentina
Retail Sales Index
May. 2024: 186.8% y/y
The index that tracks nominal sales at shopping centers across the country’s main urban centers increased 186.8% year on year in May, up from 161% in the previous month. South Korea
GDP
2024Q2:
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