| Today's Economy
LatAm Daily Briefing: Ecuador Tiptoes Out of Recession The economy is being led by a small but notable improvement in consumer spending and successive improvement in manufacturing output. Economic Roundup: Expecting More After a big drop in January, retail sales bounced back only slightly in February. Europe Daily Briefing: Italian inflation rises Can China stimulus boost European exports? Asia-Pacific Daily Briefing: Waiting on a Chinese Remedy Poor domestic demand is holding back the economy. » VIEW MORE TODAY'S ECONOMY
Commentary
Canada Risk Matrix: The Fog of Trade War High uncertainty makes errors more likely. U.S. Chartbook: Eroding Confidence Softer inflation data were a pleasant surprise, but concerns about tariffs and trade policy are growing among consumers and businesses. Japan Risk Matrix: Risks Mount, Prospects Fade Rising trade frictions abroad threaten Japan's economy amid an already weak outlook. Asia-Pacific Weekly Highlights & Preview, 14 March 2025 China will publish several indicators and could ease interest rates. » VIEW MORE COMMENTARY
Today's Economic Indicators
Indonesia
Foreign Trade
Feb. 2025: US$3.1 bil
Indonesia’s trade surplus fell to $3.1 billion in February from $3.5 billion in January. Italy
Consumer Price Index
Feb. 2025: 1.6% y/y
In February, Italy's headline consumer price inflation rose to 1.6% year over year from 1.5% previously, slightly below our forecast of a 1.7% reading. United States
NY Empire State Manufacturing Survey
Mar. 2025: -20.0
The Empire State Manufacturing Survey can be added to the growing list of sentiment measures that have turned sharply in the wrong direction. United States
Retail Sales
Feb. 2025: 0.2%, m/m
Retail sales grew again in February after tumbling in January, but there was no recovery from the drop in January. Canada
International Transactions in Securities
Jan. 2025: C$7.9 bil
Foreign investors purchased a net C$7.9 billion in Canadian securities in January, led by the highest monthly investment in the Canadian bond market since April 2020. World
Moody's Analytics Survey of Business Confidence
March 14: 23.8
Global businesses remain positive, although sentiment has softened somewhat in recent weeks. United States
Business Inventories (MTIS)
Jan. 2025: 0.3% m/m
Business inventories rose 0.3% in January, on par with the consensus forecast. United States
NAHB Housing Market Index
Mar. 2025: 39
Homebuilder confidence declined 3 points to 39 in March, according to the National Association of Home Builders’ Housing Market Index. United States
Regional and State Employment
Jan. 2025:
The regional and state employment report for January 2025 paints a mixed picture. United States
Cox Automotive/Moody’s Analytics Vehicle Affordability Index
Feb. 2025: 37.23 weeks, NSA
New vehicle affordability recorded another positive month in February. Peru
Unemployment
Feb. 2025: 6.3%
The February jobs report showed a slowdown in hiring, but most other indicators of job market health point to a firming recovery. » VIEW MORE ECONOMIC INDICATORS | 
