| Today's Economy
Economic Roundup: Continuing Jobless Claims Head Higher While new unemployment insurance filings dropped, continuing claims moved up. Europe Daily Briefing: Sceptical Consumers Despite the recent uptick in business sentiment, German consumers remain downtrodden. Asia-Pacific Daily Briefing: Industrial Production Loses Momentum in Singapore Manufacturers of electronics hit the brakes. APAC Outlook: Volatility and Uncertainty The Asia-Pacific economy is performing well but is subject to shifting U.S. trade policy. » VIEW MORE TODAY'S ECONOMY
Commentary
Retirement Trust Funds Highlight the Unsustainability of U.S. Fiscal Policy The Old-Age and Survivors Insurance and Hospital Insurance trust funds will fall short of covering 100% of scheduled obligations by 2033. Netherlands Outlook: Losing Momentum The economy is faltering amid the record-high policy uncertainty and global trade tensions. Downside Risks Threaten the GCC Outlook The conflict between Iran and Israel poses increased risks to Gulf Cooperation Council countries. U.K. Housing Market Report 2025Q2 Improving affordability means the housing market should revive in the second half of the year. » VIEW MORE COMMENTARY
Today's Economic Indicators
Singapore
Industrial Production
May. 2025: 3.9% y/y
Singapore’s industrial production rose 3.9% y/y in May after April's downwardly revised 5.6% gain. Hong Kong SAR (China)
Foreign Trade
May. 2025: -HKD27.3 bil
Hong Kong’s merchandise trade deficit widened to HKD27.3 billion in May from HKD16 billion the prior month. Mexico
Trade Balance
May. 2025: US$1,029.4 mil
Mexico's trade balance showed a surplus in May, despite exports still being impacted by U.S. tariffs. United States
GDP
2025Q1: -0.5%, q/q, SAAR
Recession fears have grown as the U.S. economy shrank slightly in the first quarter, according to the Bureau of Economic Analysis’ third estimate. United States
Industry GDP
2025Q1: -0.7 ppt, SAAR
Real GDP contracted 0.5% annualized in the first quarter of 2025. Canada
Earnings, Hours and Employment
Apr. 2025: 4.4% y/y
In April, the number of employees receiving pay and benefits from their employer was little changed (-6,200) following two weak contractions in February and March. United States
Advance Wholesale and Retail Inventories
May. 2025: -0.3% m/m
According to the advance estimate, wholesale inventories fell 0.3% in May following an upwardly revised 0.1% increase in the prior month. United States
International Trade in Goods - Advanced
May. 2025: -$96.6 bil
The international trade deficit rose to $96.6 billion in May, up $9.6 billion from $87 billion in April. United States
Chicago Fed National Activity Index
May. 2025: -0.28
The Chicago Fed National Activity Index increased to -0.28 in May from a downwardly revised -0.36 in April. United States
Jobless Claims
June 21: 236,000
U.S. initial claims for unemployment insurance are going nowhere fast. United States
Durable Goods (Advance)
May. 2025: 16.4% m/m
New orders for U.S. durable goods surprised to the upside in May, with orders surging 16.4% following a downwardly revised 6.6% decline in April. United States
St. Louis Fed Financial Stress Index
June 20: -0.66
Financial market stress increased last week. United States
Pending Home Sales
May. 2025: 1.8% m/m
Pending home sales turned higher in May, rising 1.8% over the month. United States
Natural Gas Storage Report
June 20: 96 bil cubic feet
Last week’s increase in natural gas exceeded analyst expectations, which could weigh down prices somewhat. United States
Kansas City Fed Manufacturing Survey
Jun. 2025: -2
Manufacturers in the Federal Reserve’s Tenth District reported weak conditions in June, according to the Kansas City Fed’s Manufacturing Survey. Mexico
Monetary Policy
Jun. 2025: 8.00%
Despite the upward trend in inflation, Mexico’s policymakers continued to ease monetary conditions in June in the hope that the economy’s weakness would help bring inflation down. Japan
Employment Situation
May. 2025:
Philippines
Foreign Trade
May. 2025:
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