| Today's Economy
Economic Roundup: ECB Transitions to Rate Cuts The ECB cut interest rates by 25 basis points in June; now, all eyes in the U.S. are on Friday's jobs report. LatAm Daily Briefing: Markets Jittery After Mexico’s Election The likely continuation of the current administration’s leftist policies has unnerved markets. Final Thoughts Ahead of May U.S. Employment We look for the economy to have added 225,000 jobs, on net, in May. Europe Daily Briefing: ECB Makes the Cut New projections forecast stronger growth and higher headline and core inflation. » VIEW MORE TODAY'S ECONOMY
Commentary
The Netherlands Outlook: Underlying Strength Prospects for the economy are positive with household consumption the main driver of growth. Assessing the Impact of Homeowners Insurance on House Prices and Affordability Moody’s Analytics will incorporate costs of insurance and property taxes into its house price forecasting models. New Zealand Budget Review: Playing It by the Book The budget has delivered on key commitments, but a weaker economy has pushed back the return to surplus. U.S. Chartbook: Inflation Holds Steady The Fed’s preferred measure of inflation advanced 0.2% in April, keeping the annual rate unchanged from the previous month and still above target. » VIEW MORE COMMENTARY
Today's Economic Indicators
Spain
Industrial Production
Apr. 2024: 0.3% m/m
In seasonally adjusted and calendar-adjusted terms, Spain’s industrial production expanded 0.3% month over month in April. Taiwan (China)
Consumer Price Index
May. 2024: 2.2% y/y
Inflation in Taiwan rose to 2.2% in May from 2% in April, as food price growth reaccelerated. Italy
Retail Sales
Apr. 2024: -0.1% m/m
Italy’s retail sales ticked down by 0.1% month over month in April, contrary to the forecast of a 0.1% increase. Euro Zone
Retail Sales
Apr. 2024: -0.5% m/m
Euro zone retail sales fell 0.5% month on month in April, reversing most of March’s 0.7% increase. Ireland
GDP
2024Q1: 0.9% q/q
After contracting throughout 2023, the latest data show that Irish GDP started to rebound in early 2024, rising by 0.9% quarter over quarter in the first three months of the year. United States
Challenger Report
May. 2024: 63,816
U.S.-based employers announced 63,816 job cuts in May, little changed from the previous month but down slightly. United States
Jobless Claims
June 01: 229,000
U.S. initial claims for unemployment insurance are edging higher. United States
Productivity and Costs
2024Q1: 0.2%, q/q, SAAR
U.S. labor productivity increased 0.2% annualized in the first quarter, according to the Bureau of Labor Statistics’ second estimate. United States
International Trade (FT900)
Apr. 2024: -$74.6 bil
The U.S. trade deficit in goods and services widened to $74.6 billion in April, up from a (downwardly revised) $68.6 billion in March. Euro Zone
Monetary Policy
Jun. 2024: 4.25%
The European Central Bank lowered its policy rates by 25 basis points on Thursday. Canada
International Merchandise Trade
Apr. 2024: -C$ 1.05 bil
In April, Canada's merchandise exports increased 2.6%, while imports rose 1.1%. Canada
Purchasing Managers' Index
May. 2024: 52.0
In May, the Ivey Purchasing Managers’ Index printed at 52. United States
St. Louis Fed Financial Stress Index
May 31: -0.86
U.S. financial stress increased marginally in the week ended May 31, with the St. United States
Natural Gas Storage Report
May 31: 98 bil cubic feet
Last week’s build in natural gas storage beat out consensus predictions, so this report could slightly arrest the recent runup in gas prices. Brazil
Foreign Trade
May. 2024: US$8.534 bil
The country’s trade balance continued to report positive results in May despite a contraction in exports and an advance in imports. Philippines
Industrial Production
Apr. 2024:
China
Foreign Trade
May. 2024:
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