| Today's Economy
Economic Roundup: With Drop in Claims, States Opting Out of Offering Expanded Benefits U.S. initial claims drop below 500,000; another day, another hot reading on inflation. Capital Market View: PPI Packs Less Punch Than CPI Inflation expectations dip even as the PPI comes in hotter than expected. LatAm Daily Briefing: Growing Its Own Inflation Behind Chile’s inflation are pressures from not only commodity prices and domestic supply shocks but also the expansion of the money supply. Europe Daily Briefing: Irish CPI Heats Up Base effects are largely behind the uptick. » VIEW MORE TODAY'S ECONOMY
Commentary
India Outlook: Second Wave Weighs on Recovery GDP could contract at an annualized rate of 12% to 14% over the June quarter. City Slackers? Yes and No Urban areas of the U.S. lost residents in 2020, but this partly reflects a continuation of pre-pandemic patterns. Emerging Markets View: The Broken Cure Global trade will prove insufficient on its own to lift most of these economies. Global Vaccine Tracker: Cases Fall in U.S. and Europe Fewer infections and a rising share of the population vaccinated has led states to loosen restrictions. » VIEW MORE COMMENTARY
Today's Economic Indicators
Ireland
Consumer Price Index
Apr. 2021: 1.1%
Ireland's CPI was up 1.1% y/y in April, thanks in part to the lower base of April 2020. United States
Jobless Claims
May 08: 473,000
U.S. initial claims for unemployment insurance continue to improve as the economy continues to reopen. United States
Producer Price Index
Apr. 2021: 0.6% m/m
With the economy reopening and supply-chain disruptions, U.S. inflation pressures have developed. United States
St. Louis Fed Financial Stress Index
May 07: -0.94
The St. World
Moody's Analytics Global CPI
Apr. 2021: 0.4%
Our estimate of worldwide inflation picked up to 4.7% y/y in April from a slightly downwardly revised rate of 4.3% in March. United States
Natural Gas Storage Report
May 07: 71 bil cubic feet
Last week’s increase in natural gas inventories was just below analyst expectations, suggesting that this report will put almost unnoticeable upward pressure on prices. Colombia
Industrial Production
Mar. 2021: 20.7% y/y
Manufacturing output in Colombia jumped 20.7% y/y in March, mostly thanks to a very low comparison base—the country went into lockdown in March 2020 amid the pandemic. Mexico
Monetary Policy
May. 2021: 4.00%
Mexico’s central bank decided to keep monetary conditions unchanged in May despite a strong inflation rebound. Argentina
Consumer Price Index
Apr. 2021: 46.3% y/y
The statistics office’s national consumer price index increased 4.1% in April, up from 1.5% a year earlier. Chile
Monetary Policy
May. 2021:
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