| Today's Economy
Economic Roundup: Q2 U.S. GDP Tracking Estimate Continues to Slide Q2 GDP is now tracking -0.5% at an annualized rate as inventories will be a sizable drag. Capital Market View: Final Thoughts Ahead of June Employment The forecast is for a net 250,000 increase in employment and a dip in the unemployment rate. LatAm Daily Briefing: Mexico’s Inflation Fueled by Excess Demand The Bank of Mexico has acted timidly in the face of runaway inflation. Europe Daily Briefing: German Industry Grows in May Manufacturing registers another solid month. » VIEW MORE TODAY'S ECONOMY
Commentary
Challenges for the next U.K. Prime Minister Inflationary pressures, relations with the EU, and the drive for independence in Scotland are only some of the issues. U.S. Inflation Tracker: Details of May's Acceleration High inflation and inflation expectations have forced the Federal Reserve and other central banks to dramatically ramp up their monetary tightening. What to Expect From Japan’s Upper House Elections With victory for the ruling coalition all but guaranteed, a major shift in policy is unlikely. U.S. Weekly Highlights and Preview, July 5, 2022 Employment numbers and Fed minutes are in focus this week. » VIEW MORE COMMENTARY
Today's Economic Indicators
Switzerland
Unemployment rate
Jun. 2022: 2.2%
The situation in Switzerland’s labour market was stable. Denmark
Industrial Production
May. 2022: 2.0% m/m
Danish industrial production looked past a turbulent global economy and showed improvement for the month of May, posting a 2% month-over-month rise from April. Netherlands
Consumer Price Index
Jun. 2022: 8.6% y/y
Dutch year-on-year inflation decelerated to 8.6% in June. Germany
Industrial Production
May. 2022: 0.2% m/m
German industrial production expanded 0.2% month on month in May, following April's 1.3% growth—an upward revision from the initial estimate of 0.7%. But output remains 2.7% below February's level. Ireland
Industrial Production
May. 2022: 13.9% m/m
Irish industrial production rebounded strongly in May, increasing 13.9% m/m after 9.6% m/m slump in April. United States
Challenger Report
Jun. 2022: 32,517
With recession fears on the rise, announced layoffs by U.S.-based employers jumped in June. Mexico
Consumer Price Index
Jun. 2022: 7.99% y/y
Mexico’s inflation climbed higher in June as prices rebounded. Canada
International Merchandise Trade
May. 2022: C$5.3 bil
Canada's merchandise exports gathered pace in May, rising by 4.1%, which marked the fifth consecutive increase. United States
Jobless Claims
July 02: 235,000
U.S. initial claims for unemployment insurance unexpectedly rose in the week ended July 2, but they remain below the 250,000 threshold that would raise a red flag about the health of the labor market. United States
International Trade (FT900)
May. 2022: -$85.5 bil
The U.S. nominal trade deficit has narrowed over the past couple of months after it jumped in March. Chile
Foreign Trade
Jun. 2022: -US$11.3 mil
Chile’s trade accounts rounded out the second quarter with an US$11 million deficit in June after notching five consecutive surpluses to start the year. Canada
Purchasing Managers' Index
Jun. 2022: 62.2
The Ivey Purchasing Managers' Index fell to 62.2 in June after reaching 72 in May. United States
St. Louis Fed Financial Stress Index
July 01: -1.17
Financial stress increased for the second straight week behind a selloff in U.S. equity markets. United States
Natural Gas Storage Report
July 01: 60 bil cubic feet
Last week’s build in gas stocks was just below consensus expectations, so this report will put some upward pressure on prices. United States
Oil Inventories
July 01: 423.8 mil barrels
An unexpected increase in crude oil inventories should weigh on oil prices. Argentina
Industrial Production - Advance
May. 2022: 11.9% y/y
Industrial output grew 11.9% year on year in May (NSA) after rising 4.8% in the previous month. China
Foreign Trade
Jun. 2022:
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