| Today's Economy
Economic Roundup: When Doves Fly ECB's meeting was very dovish and odds are a rate cut by the Reserve Bank of Australia are rising. Final Thoughts Ahead of U.S. Employment We look for a 160,000 increase in nonfarm employment. Europe Daily Briefing: What a Busy ECB Meeting! New stimulus, new forward guidance, and a new ultra-dovish tone emerged. Asia-Pacific Daily Briefing: Australia's Skittish Consumers Australia's retail trade foiled expectations for a rebound in January. » VIEW MORE TODAY'S ECONOMY
Commentary
Little Economic Impact From Subcontinent Conflict The India-Pakistan conflict adds to the cumulative weight of geopolitical risk around the world. Canada Outlook: That’ll Leave a Bruise The drop-off in investment spending over the past two quarters suggests a sluggish start to 2019. U.S. Weekly Highlights and Preview, March 4, 2019 All eyes are on employment. U.S. Chartbook: Setting Expectations First quarter GDP growth has disappointed in this expansion, and odds are that the first three months of 2019 will be no different. » VIEW MORE COMMENTARY
Today's Economic Indicators
Italy
Retail Sales
Jan. 2019: 0.5%
Italy's retail sales increased 0.5% m/m in January, a strong improvement compared with the 0.6% decline in December. Euro Zone
GDP
2018Q4: 0.2%
Final numbers confirmed that euro zone GDP grew by only 0.2% q/q in the fourth quarter of 2018, a slight acceleration from the downwardly revised 0.1% gain in the third. Chile
Foreign Trade
Feb. 2019: US$276.2 mil
Chile’s trade surplus shrink substantially in February, falling to $276 million from $1.03 billion in January. United States
Challenger Report
Feb. 2019: 76,835
Job cuts swelled in February to 76,835, the highest number in more than three years, driven primarily by the cuts in retail and industrial goods. Euro Zone
Monetary Policy
Mar. 2019: 0.0%
While the European Central Bank left policy rates unchanged at its March meeting, it unveiled new stimulus by launching a new round of TLTRO liquidity operations that will start in September and run through March 2021. Canada
Building Permits
Jan. 2019: -5.5%
The value of building permits decreased in January and lower commercial construction permits were behind the decline. United States
Jobless Claims
March 02: 223,000
The U.S. labor market remains strong, despite recent concerns of some softening. United States
Moody's Analytics Beige Book Index
Mar. 2019: 100.0
The Moody's Analytics Beige Book Index reported a rating of 100 for March’s edition of the Federal Reserve report. United States
Productivity and Costs
2018Q4: 1.9%
U.S. productivity rose 1.9% at an annualized rate in the fourth quarter of 2018, in line with our forecast. Mexico
Consumer Price Index
Feb. 2019: 3.94%
Annual inflation in Mexico continued to adjust downward in February, as price increases are more consistent. World
Moody's Analytics Global HPI
2018Q4: 7.0%
The Moody’s Analytics nominal house price index was up 7% on a year-ago basis in the fourth quarter of 2018, compared with the revised 6.8% gain in the third quarter (previously 6.7%). United States
St. Louis Fed Financial Stress Index
March 01: -1.22
The St. United States
Natural Gas Storage Report
March 01: -149 bil cubic feet
The decline in natural gas inventories was roughly in line with analyst expectations, which will have little effect on gas prices. China
Foreign Trade
Feb. 2019:
United States
Financial Accounts - Households
2018Q4: $104.33 tril
Household wealth fell sharply in the fourth quarter as the stock market tumbled and house price appreciation slowed. United States
Financial Accounts - Nonfinancial Corporate
2018Q4: $24.69 tril
Nonfinancial corporate business wealth fell sharply in the fourth quarter as equity prices plunged more than 10% in the quarter. United States
Consumer Credit (G19)
Jan. 2019: $17.0 bil
Headline consumer credit growth is off to a strong start in 2019. Japan
GDP
2018Q4:
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