| Today's Economy
Economic Roundup: Existing-Home Sales Head Higher While sales rose in October, they remain well below the average for the past decade. Europe Daily Briefing: Public Borrowing Aims Higher Public sector pay rises propped up expenses in the U.K. Asia-Pacific Daily Briefing: BoJ's Ueda Tiptoes Through Tricky Terrain The central bank governor said the next interest rate decision is impossible to predict. Economic Roundup: More to Come Thursday will reveal the direction of jobless claims and home sales. » VIEW MORE TODAY'S ECONOMY
Commentary
European Manufacturers’ Woes Rise With Trump The Continent’s manufacturing sector has been sluggish post-pandemic, and the next U.S. administration will likely prevent recovery from taking hold. U.K. Risk Matrix: The Trade War Threat New U.S. tariffs clearly would pose a threat, but there are reasons to suspect that the U.K. is relatively less exposed than other developed economies. U.S. Employment Outlook: Storms and Strikes Regarding the labor market, the policy we are watching most closely is immigration, which could have a profound impact on the job market. Looming Threats to the EU Automotive Trade A weakened automotive industry stands to lose significantly from a Trump-led global trade war. » VIEW MORE COMMENTARY
Today's Economic Indicators
Norway
GDP
2024Q3: -1.8% q/q
Norway’s GDP contracted by 1.8% q/q in the third quarter of the year. Hong Kong SAR (China)
Consumer Price Index
Oct. 2024: 1.4% y/y
Hong Kong's headline composite consumer price index rose 1.4% year over year in October, 0.8 percentage point below September’s reading of 2.2%. Mexico
Retail & Wholesale Sales
Sep. 2024: -1.5% y/y
Retail sales contracted in September because the domestic market was affected by the typical slowness caused by the political transition. United States
Jobless Claims
November 16: 213,000
U.S. initial claims for unemployment insurance remain in check. Canada
Industrial Product and Raw Materials Price Indexes
Oct. 2024: 1.2% m/m
The Industrial Product Price Index popped up 1.2% in October, the largest monthly gain since April. United States
Philadelphia Fed Survey
Nov. 2024: -5.5
After a welcome jump in October, the Philly Fed’s Manufacturing Business Outlook Survey took a step backward in November. United States
Quarterly Services Survey
2024Q3: 2.2% q/q
In the third quarter, revenue growth in U.S. service industries accelerated after a brief slowdown. United States
Conference Board Leading Indicators
Oct. 2024: -0.4%
The Conference Board Leading Economic Index declined 0.4% in October, bucking our and consensus expectations for a 0.3% decrease. United States
Existing-Home Sales
Oct. 2024: 3.96 mil, SAAR
Existing-home sales rebounded in October, expanding 3.4% to a seasonally adjusted annual rate of 3.96 million, nearly in line with consensus expectations of 3.93 million. United States
St. Louis Fed Financial Stress Index
November 15: -0.81
The St. United States
Natural Gas Storage Report
November 15: -3 bil cubic feet
The natural gas market began annual drawdowns last week. United States
Kansas City Fed Manufacturing Survey
Nov. 2024: -2
According to the Kansas City Fed’s Manufacturing Survey, factory activity fell slightly in November. Japan
Consumer Price Index
Oct. 2024:
Malaysia
Consumer Price Index
Oct. 2024:
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