Today's Economy Economic Roundup: Don't Wait for Monthly Employment, Watch Jobless Claims Job growth in February was strong but that was before COVID-19 came to the U.S. Q1 U.S. GDP Looks Better, for Now January data likely capture little if any of the impact of COVID-19. Canada Weekly: The Fed's Surprise Cut Structural factors unresponsive to interest rate changes were weighing on growth months before COVID-19 became a problem. Geopolitical Risk Calendar: Coronavirus Containment Efforts Are Stepped Up The number of countries and infected patients outside of China continued to rise. » VIEW MORE TODAY'S ECONOMY
Commentary COVID-19 Tracker: Engulfed Global recession odds have increased with the number of countries and confirmed patients continuing to rise. Latin America Weekly HIghlights and Preview, March 6, 2020 Brazil's inflation remains high but is trending down. Europe Weekly Highlights and Preview, 6 March, 2020 Overall, we expect that the single-currency area will ultimately avoid recession in 2020. Asia-Pacific Weekly Highlights and Preview, 6 March, 2020 Japan's GDP likely fell by 1.4% q/q in Q4, according to second estimates. » VIEW MORE COMMENTARY
Today's Economic Indicators
Spain Industrial Production Jan. 2020: 0.2% Spain’s industrial production advanced only modestly in January. Italy Retail Sales Jan. 2020: 0.0% Italy’s retail sales were flat in monthly terms in January as strong food sales were offset by a drop in nonfood spending. In year-ago terms, retail sales grew for the 10th consecutive month. Chile Consumer Price Index Feb. 2020: 3.89% Annual inflation in Chile increased in February, as the comparison base affected the growth rate. Colombia Consumer Price Index Feb. 2020: 3.7% Colombia’s annual inflation rate accelerated in February due to higher residential power rates and rising food prices. Russian Federation Consumer Price Index Feb. 2020: 0.3% Russian inflation maintained its slow pace in February. Canada International Merchandise Trade Jan. 2020: -C$ 1.5 bil Canada's merchandise exports fell by 2% in January, while imports were down by 0.5%. Canada Labor Force Survey Feb. 2020: 5.6% The labor market registered a solid employment gain in February, but job losses in accommodation and food services may signal the beginning of the COVID-19 outbreak's fallout. United States Employment Situation Feb. 2020: 273,000 Payroll employment gains surprised on the upside in February, though activity following the mid-month survey week has likely decelerated as coronavirus effects expand. Employers added 273,000 jobs, well above our expectation. Moreover, gains for December and January were revised higher adding another 85,000 jobs. United States International Trade (FT900) Jan. 2020: -$45.3 bil The nominal trade deficit narrowed a little more than we anticipated in January, but the impact of COVID-19 will be more noticeable in subsequent months. United States Wholesale Trade (MWTR) Jan. 2020: -0.4% Wholesale inventories fell by 0.4% in January, steeper than consensus expectations of a 0.2% decline. Canada Purchasing Managers' Index Feb. 2020: 54.1 The seasonally adjusted Ivey Purchasing Managers' Index decreased from 57.3 in January to 54.1 in February. China Foreign Trade Feb. 2020: United States Consumer Credit (G19) Jan. 2020: $12.0 bil Consumer credit growth slowed in January, coming in at $12 billion compared with December’s posting of $20.3 billion. » VIEW MORE ECONOMIC INDICATORS |