| Today's Economy
Geopolitical Risk Calendar: Biden Steps Out of the Race The U.S. president and the top brass of the Democratic party have thrown their support behind Vice President Kamala Harris to run against former President Trump. Economic Roundup: No Alarms and No Surprises As expected, the Fed’s preferred inflation measure continued to cool in June. Europe Daily Briefing: Spanish Unemployment Declines Private-sector jobs bounced back, but global uncertainty and high youth unemployment are still a problem. Asia-Pacific Daily Briefing: Industrial Production Slips in Singapore The reversal from May's increase was chiefly due to the volatile biomedical sector. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Weekly Highlights and Preview, July 26, 2024 We look for FOMC signals that the Fed is ready to begin cutting interest rates in September. Latin America Weekly Highlights and Preview, July 26, 2024 Retail sales contract in Argentina but get a slight bump in Mexico. Euro Zone Risk Matrix: Inflationary Rumblings Our view is that the European Central Bank remains in a cutting cycle. Europe Weekly Highlights and Preview, 26 July 2024 Services hiring in France likely had a head start with the Summer Olympics. » VIEW MORE COMMENTARY
Today's Economic Indicators
Singapore
Industrial Production
Jun. 2024: -3.9% y/y
Singapore’s industrial production index fell 3.9% y/y in June. Spain
Retail Sales
Jun. 2024: 0.3% m/m
In seasonally adjusted and calendar-adjusted terms, Spain’s retail sales expanded 0.3% month over month in June. Spain
Unemployment
2024Q2: 11.3%
Spain’s unemployment rate stood at 11.3% in the second quarter of 2024, a full-percentage point decrease compared with the previous quarter. Russian Federation
Monetary Policy
Jul. 2024: 18%
At its July meeting, the Central Bank of Russia raised its benchmark interest rate by 200 basis points to 18%. Mexico
Trade Balance
Jun. 2024: -US$1,036.9 mil
Mexico’s trade account turned negative in June after a surplus in May. United States
Personal Income
Jun. 2024: 0.2% m/m
Nominal personal income rose 0.2% in June, a touch lower than our below-consensus forecast. United States
PCE Deflator
Jun. 2024: 0.1% m/m
June’s personal consumption expenditure deflator came in as expected and closes the books on the second quarter. United States
Real Personal Spending
Jun. 2024: 0.2% m/m
Real consumer spending continued to grow at a healthy pace in June. United States
Moody’s Analytics House Price Index
Jun. 2024: 5.58%
House prices climbed 0.3% in June, according to the Moody’s Analytics Home Price Index. United States
University of Michigan Consumer Sentiment Survey
Jul. 2024: 66.4
Confidence dipped in July extending its streak of monthly declines to four, according to the University of Michigan consumer sentiment index. United States
Debt Service Ratio
2024Q1: 9.78%
Household debt burdens inched lower in the first quarter as growth in payments increased lagged income growth. » VIEW MORE ECONOMIC INDICATORS | 
