| Today's Economy
Economic Roundup: No Shortage of U.S. Economic Data Details were generally better than the headlines would suggest, except for pending-home sales. Capital Market View: Corporate Profits Will Keep Lid on Defaults Profit margins will compress in the second half of the year, but not enough to raise a red flag. LatAm Daily Briefing: Recovery Despite Virus Resurgence Brazil GDP is likely 1% above the level reached at the end of 2019, just before the pandemic struck the country. Europe Daily Briefing: Italians More Upbeat on the Future More French looked for jobs in April, but headwinds persist for jobs in tourism. » VIEW MORE TODAY'S ECONOMY
Commentary
U.K. Outlook: Faster to the Finish Line The successful vaccination program all but ensures a solid recovery. Deconstructing April’s Disappointment: A Regional View U.S. state and metro area payroll data provide a deeper dive into last month’s surprising slowdown. Evaluating Africa COVID-19 Exposure Scores Vulnerability measures developed in early 2020 had mixed success predicting economic performance. Global Vaccine Tracker: Uneven Progress German biotech company CureVac expects to see its new mRNA vaccine approved by the European Medicines Agency this week. » VIEW MORE COMMENTARY
Today's Economic Indicators
France
Job Seekers
Apr. 2021: 3.62 mil
The number of French job seekers jumped by 65,900 in April to a total of 3.62 million. Brazil
Employment Situation
Mar. 2021: 14.7%
As we anticipated, Brazil’s unemployment rose in March and also matched our forecast. Canada
Earnings, Hours and Employment
Mar. 2021: 7.4%
Payroll employment as measured by the Survey of Employment, Payrolls and Hours increased by 1.5% in March, marking a 245,800 upward shift in level terms. United States
Jobless Claims
May 22: 406,000
U.S. initial claims for unemployment insurance are signaling improvement in the labor market. United States
Durable Goods (Advance)
Apr. 2021: -1.3% m/m
U.S. durable goods orders unexpectedly fell in April, but this masks the stronger underlying data. United States
GDP
2021Q1: 6.4%, q/q, SAAR
U.S. Mexico
Employment Situation
Apr. 2021: 4.7% Unemployment
Unemployment in Mexico increased in April, reflecting the seasonal effect of Easter vacation. United States
Pending Home Sales
Apr. 2021: 106.2
The NAR pending home sales index dropped 4.4% to 106.2 in April, more than giving up its March gain and sinking back to its lowest level since May 2020. United States
St. Louis Fed Financial Stress Index
May 21: -0.85
The St. World
Moody's Analytics Global HPI
2021Q1: 11.3%
The Moody’s Analytics world house price index increased by 11.3% y/y in nominal terms during the first quarter of 2021. United States
Natural Gas Storage Report
May 21: 115 bil cubic feet
A larger than expected increase in natural gas stocks should put slight downward pressure on gas prices. United States
Kansas City Fed Manufacturing Survey
May. 2021: 26
Manufacturing activity in the Tenth District expanded at a strong tempo in May. Japan
Employment Situation
Apr. 2021:
Japan
Retail Sales
Apr. 2021:
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