| Today's Economy
Economic Roundup: U.S. Economy Refuses to Quit Economic growth strongly exceeded expectations in the second quarter, coming in at 2.8%. Awaiting June’s PCE Deflator Headline and core inflation in the Fed's preferred measure likely rose 0.1% and 0.2%, respectively, in June. LatAm Daily Briefing: Mexico at Risk if Trump Wins A second Trump administration would have adverse effects on Mexico’s economic relationship with the U.S. Europe Daily Briefing: M3 Picks Up Speed Growth in money supply indicates increasing inflation pressures as well as increasing demand. » VIEW MORE TODAY'S ECONOMY
Commentary
Russia’s Central Bank Will Resume Key Rate Hikes Monetary policy has not been tight enough to rein in stubbornly high inflation. U.S. Election Tracker: A Cycle Like No Other Not since President Lyndon B. Johnson stepped out of the 1968 race has any sitting president declined to run for reelection. U.S. Credit Outlook: Eyeing Originations Consumer credit accounts continue to slump as fewer individuals take on new debt. U.K. Outlook: Early-Year Strength to Fade Persistent inflation, a hesitant central bank, and continued tight fiscal policy point to a coming slowdown. » VIEW MORE COMMENTARY
Today's Economic Indicators
Hong Kong SAR (China)
Foreign Trade
Jun. 2024: -HKD55.7 bil
Hong Kong’s merchandise trade deficit for June widened to HKD55.7 billion after May’s deficit of HKD12.1 billion. France
Job Seekers
Jun. 2024: 2.83 mil
In June, the number of job seekers in France rose 18,200 to 2.83 million. Canada
Earnings, Hours and Employment
May. 2024: 4.2% y/y
The number of employees receiving pay and benefits from their employer increased by 41,000 (0.2%) in May, continuing the measure's upward trajectory and bringing the cumulative gain to 148,900 (0.8%) from January to May. United States
Jobless Claims
July 20: 235,000
U.S. initial claims for unemployment insurance declined by 10,000 in the week ended July 20 to 235,000. United States
Durable Goods (Advance)
Jun. 2024: -6.6% m/m
U.S. durable goods orders fell 6.6% in June, below our forecast of -2.3% and well under the consensus projection for a 0.4% gain. United States
GDP
2024Q2: 2.8%, q/q, SAAR
U.S. economic growth strongly exceeded expectations moving back above potential in the second quarter, coming in at 2.8%, double the 1.4% growth reported for the first quarter, according to the Bureau of Economic Analysis’ preliminary estimate. United States
Bankruptcy Filings
2024Q2: 15.6% y/y
Consumer finances remain strong, but they are being undermined by high inflation, high interest rates, and exhausted excess savings. United States
St. Louis Fed Financial Stress Index
July 19: -0.78
U.S. financial market stress inched higher in the week ended July 19, with the St. United States
Natural Gas Storage Report
July 19: 22 bil cubic feet
Gas storage rose by slightly more than analysts were anticipating, which will likely put some small downward pressure on prices. United States
Kansas City Fed Manufacturing Survey
Jul. 2024: -13
Factory activity in the Federal Reserve’s Tenth District contracted in July, according to the Kansas City Fed’s manufacturing survey. » VIEW MORE ECONOMIC INDICATORS | 
