Today's Economy Economic Roundup: June U.S. Baseline Shows Stronger but Transitory Inflation We have revised higher our forecast for inflation but Fed still expected to wait until 2023 to hike. Capital Market View: Looking for Another Hot Print on U.S. CPI We look for the headline and core CPIs to have risen 0.6% in May. LatAm Daily Briefing: Remittances Grow in Importance Forty million households in the region receive money from abroad each year. Europe Daily Briefing: Euro Zone GDP Shrinks in Q1 The latest ZEW shows that sentiment in financial markets is brightening. » VIEW MORE TODAY'S ECONOMY
Commentary Global Vaccine Tracker: Timelines to Herd Resilience The pandemic will weigh heavily on emerging market economies, and the gap with booming developed market economies will widen. U.S. Chartbook: Growing Pains May’s weaker-than-consensus job number was an improvement on April but reflected several frictions in the economy. U.S. Weekly Highlights and Preview, June 7, 2021 The reopening of the economy is going to boost the CPI. This Week in the COVID-19 Crisis The risks to our upbeat baseline outlook for a V-shape recovery are symmetric. » VIEW MORE COMMENTARY
Today's Economic Indicators
Netherlands Consumer Price Index May. 2021: 2.1% y/y Denmark Industrial Production Apr. 2021: -3.8% m/m Denmark’s industrial performance in April was set back by a last batch of restrictions. Sweden Industrial Production Apr. 2021: -0.3% Sweden’s industrial production slid by 0.3% m/m in April following March’s 2% increase. Italy Retail Sales Apr. 2021: -0.4% m/m After stalling in March, Italy’s retail sales ticked down by 0.4% m/m in April due to weak nonfood spending. Euro Zone GDP 2021Q1: -0.3% Detailed estimates found that euro zone GDP contracted by 0.3% q/q in the first quarter. Germany Industrial Production Apr. 2021: -1% Annual industrial production soared by 26.2% on the back of last year’s historic tumble, while monthly output contracted by 1%. Ireland Industrial Production Apr. 2021: -0.2% United States NFIB Small Business Survey May. 2021: 99.6 The NFIB Small Business Optimism Index unexpectedly slipped in May, coming in at 99.6. Brazil Retail Sales Index Apr. 2021: 23.8% y/y Brazil’s household consumption reported a strong annual rebound in April as sales were benefited by the annual comparison base. Chile Consumer Price Index May. 2021: 3.65% y/y Chile’s inflation continued to climb in May as pressures developed in an economy in recovery. Canada International Merchandise Trade Apr. 2021: C$ 0.59 bil In April, Canadian merchandise imports fell by 4.7% and exports declined by 1%.
The declines were mainly due to marked shortfalls in motor vehicles and parts trade. United States International Trade (FT900) Apr. 2021: -$68.9 bil The U.S. nominal trade deficit narrowed more than expected in April but the implications for second-quarter GDP don’t appear too significant. United States Job Openings and Labor Turnover Survey Apr. 2021: 6.0% openings rate Job Openings and Labor Turnover Survey data confirm the widely reported challenges for employers of filling vacancies. Argentina Industrial Production - Advance Apr. 2021: 55.9% y/y Industrial output jumped 55.9% y/y in April (NSA), up from 33% in the previous month. Chile Monetary Policy Jun. 2021: South Korea Employment May. 2021: South Korea GDP 2021Q1: China Consumer Price Index May. 2021: China Producer Price Index May. 2021: » VIEW MORE ECONOMIC INDICATORS |