| Today's Economy
Economic Roundup: Some Good News and Some Bad U.S. economic data come in mixed to end the holiday-shortened week. U.S. Weekly Preview The U.S. economic calendar will pick up significantly next week. Europe Daily Briefing: European PMIs Tick Higher Flash estimates point to a marginal improvement in the composite PMI. Asia-Pacific Daily Briefing: RBNZ Pounds the Panic Button A record 75-basis point hike by the RBNZ all but confirmed a recession for New Zealand in 2023. » VIEW MORE TODAY'S ECONOMY
Commentary
APAC Outlook: A Coming Downshift The Asia-Pacific economy is slowing as trade slows and China struggles amidst stubborn inflation. Emerging Market View: Gloom, Not Doom Softer global growth will be felt across regions. Euro Zone Inflation Tracker: Is This the Peak? As in previous months, the energy component of the consumer basket is the main driver. 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. » VIEW MORE COMMENTARY
Today's Economic Indicators
Singapore
Consumer Price Index
Oct. 2022: 6.7% y/y
Consumer price rises in Singapore appear to have passed the peak, with both core and headline CPI moderating in October. Taiwan (China)
Industrial Production
Oct. 2022: -3.6%
Taiwan’s industrial production fell 3.6% y/y in October, compared to its 4.5% year-on-year decline in September. United States
MBA Mortgage Applications Survey
November 18: 2.2%
Mortgage activity expanded again, rising 2.2% in the week ended November 18. United States
Jobless Claims
November 19: 240,000
U.S. initial claims for unemployment insurance are moving in the wrong direction. United States
Durable Goods (Advance)
Oct. 2022: 1.0% m/m
U.S. durable-goods orders beat consensus expectations in October. United States
University of Michigan Consumer Sentiment Survey
Nov. 2022: 56.8
Consumer sentiment fell, more than reversing its gains of the prior two months and pushing it back toward its record low set in June, according to the University of Michigan. United States
New-Home Sales
Oct. 2022: 632,000 SAAR
Activity in the market for new homes is settling below its pre-pandemic level. United States
Oil Inventories
November 18: 431.7 mil barrels
A larger decline in oil stockpiles than analysts predicted could push oil prices up. Russian Federation
Industrial Production
Oct. 2022: -2.6% y/y
Russia's industrial production contracted by 2.6% y/y in October, adding to the 3.1% loss in September, as a result of a contraction in all main industries. United States
Natural Gas Storage Report
November 18: -80 bil cubic feet
Last week marked the beginning of the heating season in the U.S., but natural gas stores fell by less than analysts were predicting. United States
FOMC Minutes
Nov. 2022:
Minutes from the Federal Open Market Committee’s meeting in November reiterate the Federal Reserve’s commitment to stamping out elevated inflation and its willingness to endure some economic pain along the way. South Korea
Monetary Policy
Nov. 2022:
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