| Today's Economy
Economic Roundup: Soft Data Point to Further Cooling of U.S. Economy The Philly Fed's Nonmanufacturing Survey points to a contraction in activity for November. LatAm Daily Briefing: A Policy-Induced Deceleration in Chile The central bank forces a decline in excess domestic consumption to fight inflation. Europe Daily Briefing: Winter Is Back Lower temperatures renew blackout warnings in Europe. China’s Inflation: Slowly but Surely Inflation will come off its lows, but weak domestic demand will put a lid on price rises. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Employment Outlook: Job Gains Easing Weak productivity growth is raising concerns, since productivity growth along with a growing labor force can help stem inflation pressures. Worker Shortage Complicates Fed's Inflation Fight Millions of missing workers will hold up the labor supply recovery, which could indirectly mute the impact of monetary policy. U.S. Chartbook: Waiting With Bated Breath A barrage of indicators suggested the economy is softening as chances of a Fed misstep worsen. Canada Risk Matrix: The Nervous Wait The negative effects of the central bank's policy actions on the broader economy will likely become more evident in the first half of 2023. » VIEW MORE COMMENTARY
Today's Economic Indicators
Finland
Unemployment rate
Oct. 2022: 5.8%
Finland’s not seasonally adjusted unemployment rate dropped to 5.8% in October from 6% a year earlier. Norway
GDP
2022Q3: 1.5% q/q
Norwegian GDP increased by 1.5% q/q in the third quarter, while mainland GDP was up a more modest 0.8%. Mexico
Retail & Wholesale Sales
Sep. 2022: 3.3% y/y
Retail consumption reported positive annual growth in September, though with moderation. Canada
New Housing Price Index
Oct. 2022: 5.1% y/y
Rising rates have continued to constrain consumer demand for housing. Canada
Retail Trade
Sep. 2022: -0.5% m/m
Retail sales regressed in September mostly due to declining gasoline and food sales. United States
Philadelphia Fed Nonmanufacturing Survey
Nov. 2022: -2.6
According to the Philly Fed’s Nonmanufacturing Business Outlook Survey, service-providing firms experienced a contraction in activity from October to November. United States
Richmond Fed Manufacturing Survey
Nov. 2022: -9
Manufacturing activity in the Fifth Federal Reserve District remains soft, according to the Richmond Fed Manufacturing Survey. Peru
GDP
2022Q3: 1.7% y/y
The third quarter was a rather glum one for Peru's economy, which contracted slightly from the second quarter and saw output up only 1.7% on a year-ago basis. New Zealand
Monetary Policy
Nov. 2022:
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