| Today's Economy
Economic Roundup: Final Thoughts Ahead of U.S. Employment We look for a 600,000 net gain in May but labor supply issues could bite again. LatAm Daily Briefing: Post-Pandemic Recovery The challenge for the region continues to be anemic investment. Europe Daily Briefing: Services Boost European PMIs The services PMI readings were up in the euro zone, the U.K., and in Russia. Capital Market View: Entering Markets Often Easier Than Exiting for Fed The Fed will sell off assets from its Secondary Market Corporate Credit Facility. » VIEW MORE TODAY'S ECONOMY
Commentary
China Property Rally Continues Regulators hope to be able to manage prices via targeted credit control and other macroprudential tools. U.S. COVID-19 Tracker Update: A Step Back Government transfer payments will apply further downward pressure on May personal income. Global Vaccine Tracker: Another Billion China, India, and the United States are responsible for more than 606 million of the most recent billion shots. ECB Won’t Change Course Yet Despite rising inflation and higher sovereign yields, the central bank will avoid altering policy. » VIEW MORE COMMENTARY
Today's Economic Indicators
Belgium
Retail Sales
Apr. 2021: -4.3%
Belgian retail sales fell 4.3% month to month in April, a consequence of the reimposition of lockdown measures. United States
Challenger Report
May. 2021: 24,586
Job cut announcements rose slightly to 24,586 in May but are down almost 95% from a year ago and remain incredibly low by historical comparison. United States
Vehicle Sales - BEA
May. 2021: 17.0 mil, SAAR
U.S. new-vehicle sales tapped the brakes in May. United States
ADP National Employment Report
May. 2021: 978,000 m/m, ths
The labor market recovery is gaining momentum. United States
Moody's Analytics Beige Book Index
Jun. 2021: 156.9
The Moody’s Analytics Beige Book Index rose to 156.9 in June from 104.2 in April. United States
Jobless Claims
May 29: 385,000
Though layoffs remain elevated relative to those seen pre-pandemic, they are not the biggest issue for the labor market recovery; the lack of labor supply is. United States
Productivity and Costs
2021Q1: 5.4%, q/q, SAAR
U.S. productivity growth has been strong since the economy emerged from the COVID-19 recession. United States
St. Louis Fed Financial Stress Index
May 28: -0.97
The St. United States
ISM Nonmanufacturing Index
May. 2021: 64.0
The breadth of improvement in U.S. nonmanufacturing improved in May because of progress on the vaccination front, states relaxing COVID-19 restrictions, and supply chain issues. United States
Natural Gas Storage Report
May 28: 98 bil cubic feet
The increase in gas stocks last week closely matched analyst predictions, suggesting that this report should have little effect on gas prices. Australia
Datium Insights - Moody’s Analytics Used Vehicle Price Index
May. 2021: 47.4%
Demand for used vehicles eased off the gas pedal a bit last month. United States
Oil Inventories
May 28: 479.3 mil barrels
A larger than expected decline in crude oil stocks should apply some upward pressure on prices. Uruguay
Consumer Price Index
May. 2021: 6.6% y/y
Uruguayan inflation came in at 6.64% in May, down from 6.8% in April. United States
Semiconductor Billings
Apr. 2021:
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