| Today's Economy
LatAm Daily Briefing: COVID-19 Pandemic to Hit Remittances Central America and Venezuela will be hit particularly hard by the ongoing global crisis. Making Main Street a Priority Congress is hoping small business treads water until a post-pandemic level of normalcy returns to consumer spending. U.S. Initial Claims Show Severity of COVID-19 Economic Shock New filings hit a record 3.283 million in the week ended March 21. Europe Daily Briefing: ECB Steps Up Its Fight Against COVID-19 The BoE hit the pause button, while confidence indicators for France and Germany were a sorry lot. » VIEW MORE TODAY'S ECONOMY
Commentary
What the Stimulus Can Do The need is great because affected U.S. workers are concentrated in industries paying the lowest wages. U.S. COVID-19 Tracker: Hitting a Brick Wall Initial claims for unemployment insurance benefits soared to 3.283 million. Looking for the U.S. Labor Market Impact of COVID-19 A real shock will come when UI claims for last week are released; claims are widely expected to surpass 1 million. EU Risk Matrix: COVID-19 in U.S. Adds to Europe's Woes The euro zone will feel the economic pain of the coronavirus' spread across the Atlantic. » VIEW MORE COMMENTARY
Today's Economic Indicators
United Kingdom
Retail Sales
Feb. 2020: -0.3%
U.K. retail sales fell by 0.3% m/m in February after a 1.1% rise in January. United Kingdom
Monetary Policy and Minutes
Mar. 2020: 0.1%
That the Bank of England took a breather during its March scheduled monetary policy meeting was expected. United States
Advance Wholesale and Retail Inventories
Feb. 2020: -0.5%
Wholesale inventories fell slightly in February, down 0.5% from January and by 1% from February 2019. United States
International Trade in Goods - Advanced
Feb. 2020: -$59.9 bil
The nominal goods deficit narrowed more than anticipated in February as imports fell, likely because of COVID-19’s impact on the global supply chain. United States
Jobless Claims
March 21: 3,283,000
Layoffs and the loss of worker confidence due to COVID-19 are causing jobless claims to spike to unprecedented levels. United States
GDP
2019Q4: 2.1%
U.S. Mexico
Employment Situation
Feb. 2020: 3.6% Unemployment
Mexico’s unemployment declined in February after the traditional seasonal rebound at the start of the year. Mexico
Economic Activity Index
Jan. 2020: -0.8%
Economic activity started the year with prolonged weakness, still reporting annual contraction. United States
St. Louis Fed Financial Stress Index
March 20: 5.79
Financial market stress is rising at its fastest rate since the Great Recession. United States
Natural Gas Storage Report
March 20: -29 bil cubic feet
The decline in natural gas stocks was roughly in line with analyst expectations, which means this report will have little effect on prices. United States
Kansas City Fed Manufacturing Survey
Mar. 2020: -17
The Kansas City Fed’s Manufacturing Survey indicates manufacturing activity in the district came to a screeching halt in March. Argentina
Employment Situation
2019Q4: 8.9% Unemployment
According to Indec’s labor market survey, the national unemployment rate averaged 8.9% in the fourth quarter, compared with 9.1% a year earlier (figures are not seasonally adjusted). South Korea
Consumer Sentiment Index
Mar. 2020:
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