| Today's Economy
Happy Fourth of July Our U.S. economic coverage will resume Friday. Economic Roundup: At Least Thursday Is a Holiday U.S. economic data mostly disappointed, and we have cut our tracking estimate for Q2 GDP. A 2015-2016 Type Slowdown by Core Business Sales Would Roil Corporate Credit Here's what could get the FOMC to consider a 50-basis point rate cut. Trade and Factory Orders Ding Q2 Growth GDP is now tracking 1.6% at an annualized rate. » VIEW MORE TODAY'S ECONOMY
Commentary
The Economic Implications of Climate Change Climate change will create many losers, but also some winners. Tariffs Tracker: Haven't We Done This Already? Another truce with China, another handshake agreement. Why Chile's Central Bankers Reversed Course Monetary policymaking based on nonobservable variables could become inconsistent with time. 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. » VIEW MORE COMMENTARY
Today's Economic Indicators
United States
MBA Mortgage Applications Survey
June 28: -0.1%
In the week of June 28 the top-line index ticked down only 0.1%, with little movement from purchases and refinancing. United States
Challenger Report
Jun. 2019: 41,977
Job cuts fell to 41,977 in June, down 28% from May and 13% higher from a year ago. United States
ADP National Employment Report
Jun. 2019: 102,000
The labor market is shifting into a lower gear. Canada
International Merchandise Trade
May. 2019: C$ 0.8 bil
Booming exports drove the Canadian merchandise trade balance into surplus territory in May. United States
Jobless Claims
June 29: 221,000
The U.S. labor market has softened recently but initial claims for unemployment insurance benefits are not raising a red flag. United States
International Trade (FT900)
May. 2019: -$55.5 bil
The trade deficit widened to $55.5 billion in May as imports rose by more than exports. Chile
Retail & Wholesale Sales
May. 2019: 5.5%
Chile’s retail and wholesale sales index posted above-average growth in May, beating out expectations and rising at 5.5% y/y. United States
ISM Nonmanufacturing Index
Jun. 2019: 55.1
The U.S. nonmanufacturing sector is in decent shape, although the breadth of growth is narrowing. United States
Factory Orders (M3)
May. 2019: -0.7%
Factory orders fell 0.7% in May, their third loss in the last four months. United States
Natural Gas Storage Report
June 28: 89 bil cubic feet
The increase in natural gas inventories was barely higher than analyst expectations, which will apply minimal downward pressure on prices. United States
Oil Inventories
June 28: 468.5 mil barrels
A smaller than expected drop in crude oil inventories will put downward pressure on oil prices. Australia
Retail Sales
May. 2019:
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