| Today's Economy
Economic Roundup: U.S. Housing Market Returning to Earth Rising mortgage rates are behind the drop in sales. LatAm Daily Briefing: LatAm’s Pink Tide Reaches Colombia President-elect Gustavo Petro’s ambitious economic agenda roils markets and unnerves investors. Europe Daily Briefing: Finnish Unemployment Ticks Up Finland's unemployment rate ticked up in May, but employment is still high. Asia-Pacific Daily Briefing: RBA Minutes Show More Price Sensitivity Australia's cash rate could finish this year around 2% to 2.5%. » VIEW MORE TODAY'S ECONOMY
Commentary
APAC Outlook: Resilience, So Far The regional economy persevered through China's lockdowns but now faces accelerating inflation. This Week in the Economy The Fed’s last minute decision to raise the fed funds rate target by an aggressive 75 basis points increases the odds of a U.S. recession in the next 12 months to 40%, and to more or less even odds over the next 24. In Unprecedented Environment, ECB Forecasters Miss Mark The central bank’s new projections again fell short of reality as soon as they were published. U.S. Risk Matrix: A Shift Rising interest rates at home and in Europe may prove more problematic than previously expected. » VIEW MORE COMMENTARY
Today's Economic Indicators
Finland
Unemployment rate
May. 2022: 7.9%
Finland’s not seasonally adjusted unemployment rate dropped to 7.9% in May from 10.3% a year earlier. Hong Kong SAR (China)
Consumer Price Index
May. 2022: 1.2% y/y
Hong Kong’s headline Composite Consumer Price Index rose by 1.2% over the year in May, a 0.1-percentage point decrease from May. Canada
New Housing Price Index
May. 2022: 8.4% y/y
The new-home price index was up 8.4% from a year earlier in May after April's 9.4% increase. Canada
Retail Trade
Apr. 2022: 0.9% m/m
After a few sideways months, retail sales resumed growth in April. United States
Chicago Fed National Activity Index
May. 2022: 0.01
The Chicago Fed National Activity Index fell in May to 0.01, the lowest reading since September. United States
Philadelphia Fed Nonmanufacturing Survey
Jun. 2022: 24.7
June’s Nonmanufacturing Business Outlook Survey from the Philadelphia Federal Reserve impressed. World
Moody's Analytics Survey of Business Confidence
June 17: -1.9
Global businesses are dour. United States
Existing-Home Sales
May. 2022: 5.41 mil, SAAR
Existing-home sales sank 3.4% in May to 5.41 million units annualized, reinforcing the downward trend that started at the beginning of 2022 and dropping to its lowest level since June 2020. United States
Moody’s Analytics Policy Uncertainty Index
June 17:
New Zealand
Foreign Trade
May. 2022:
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