| Today's Economy
Stress in U.S. Supply Chains Intensifies, but Relief Is Coming Our U.S. supply-chain stress index rose in September but will likely decline soon. Capital Market View: U.S. Retail Sales Jump, Pulling GDP Tracking Higher Consumer spending got off to a good start this quarter. Biden could announce Fed chair pick soon. LatAm Daily Briefing: Argentina’s Ruling Party Suffers Electoral Defeat Post-midterms, the Peronists must rethink economic policy to strike a deal with the IMF. Europe Daily Briefing: U.K. Labor Market Improves The unemployment rate fell more than expected in the September stanza to 4.3%. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Weekly Highlights and Preview, November 15, 2021 We look for retail sales to see an increase because of higher prices. U.S. Chartbook: Dueling Mandates Inflation continues to make headlines and consumers are taking notice. U.S. COVID-19 Tracker Update: Delta Loosens Grip But the variant of COVID-19 still holds sway over the economy. Latin America Weekly Highlights and Preview, November 12, 2021 Against a background of regional inflation, Chile’s economy is hot while Mexico and Brazil are cooler. » VIEW MORE COMMENTARY
Today's Economic Indicators
France
Consumer Price Index
Oct. 2021: 2.6% y/y
France’s headline inflation rate sped up to 2.6% y/y in October from 2.2% in September. Hong Kong SAR (China)
Employment Situation
Oct. 2021: 4.3%
The seasonally adjusted unemployment rate in Hong Kong fell to 4.3% for the August to October period compared with 4.5% for the July to September period, coming in slightly below our expectations at 4.4%. United Kingdom
Unemployment
Sep. 2021: 4.3%
In the three months to September, the U.K. unemployment rate declined to 4.3%, down from 4.7% in the previous stanza. The employment rate also improved, though it remains below precrisis levels. Italy
Consumer Price Index
Oct. 2021: 3.0% y/y
Italy’s headline inflation rate climbed to 3% y/y in October, the highest since September 2012. Canada
Housing Starts
Oct. 2021: 237 ths
Housing starts eased for the fifth straight month in October. United States
Import and Export Prices
Oct. 2021: 1.2% m/m
Energy was behind most of the increase in U.S. import prices in October. United States
Retail Sales
Oct. 2021: 1.7%, m/m
Retail sales growth remained strong in October, though it may be inflated as early holiday shopping is exceeding what seasonal factors expect. United States
Industrial Production
Oct. 2021: 1.6% m/m
U.S. industrial production bounced back in October after the lingering effect of Hurricane Ida was a significant drag in September. United States
Business Inventories (MTIS)
Sep. 2021: 0.7% m/m
Business inventories increased by 0.7% from August to September. United States
NAHB Housing Market Index
Nov. 2021: 83
Homebuilder confidence edged up 3 points to 83 in November. United States
Moody’s Analytics Policy Uncertainty Index
November 12: 355.3 4-wk MA
The four-week moving average in our U.S. Singapore
Foreign Trade
Oct. 2021:
Colombia
GDP
2021Q3: 13.2% y/y
The Colombian economy expanded 13.2% y/y in the third quarter, supported by pent-up demand, still-expansive policies, and a favorable external environment, including high oil prices. United States
Treasury International Capital Flows
Sep. 2021: $26.3 bil
Net long-term capital flows were positive in September, with net inflows totaling $26.3 billion, compared with inflows of $79.3 billion in August. Japan
Machinery Orders
Sep. 2021:
Japan
Foreign Trade
Oct. 2021:
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