| Today's Economy
Capital Market View: Fed Sets Taper Into Motion as Doubts About Transitory Nature of Inflation Creep In Powell doesn't push against but also doesn't endorse markets pricing in two rate hikes next year. LatAm Daily Briefing: Running On All Cylinders Chile is having a solid recovery, but overheating is a risk. Europe Daily Briefing: Euro Zone Unemployment Inches Down A decline in the labor force lowered the unemployment rate. Asia-Pacific Daily Briefing: Malaysia's Central Bank Holds Rates Constant We expect Bank Negara Malaysia to tighten monetary policy in the second half of next year. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Inflation Tracker: The September Shift Global supply chains remain under immense pressure, posing material inflation risks. U.S. Weekly Highlights and Preview, November 1, 2021 One reason that labor supply constraints should be less binding is that wage growth is accelerating. This Week in the COVID-19 Recovery We remain steadfast in our forecast that the U.S. economy will return to full employment by spring 2023. U.S. Chartbook: Pay Bumps, Growth Slumps In the third quarter, consumer spending contributed only 1.1 percentage points to growth, down from 7.9 percentage points in the prior quarter. » VIEW MORE COMMENTARY
Today's Economic Indicators
United States
Vehicle Sales - BEA
Oct. 2021: 13.0 mil, SAAR
U.S. new-vehicle sales retook some ground, increasing to 13 million seasonally adjusted annualized units in October. Malaysia
Monetary policy
Nov. 2021: 1.75%
Bank Negara Malaysia maintained its overnight policy rate at 1.75% in its October meeting, as we expected. Italy
Unemployment
Sep. 2021: 9.2%
Italy’s employment situation improved in September, as employment increased by 59,000 over the month while joblessness and inactivity declined. Euro Zone
Unemployment
Sep. 2021: 7.4%
The euro zone’s unemployment rate decreased to 7.4% in September from 7.5% in August. Belgium
Retail Sales
Sep. 2021: 2.7% m/m
Belgian retail sales increased by 2.7% month to month in September. United States
MBA Mortgage Applications Survey
October 29: -3.3%
Mortgage applications fell 3.3% in the week ending October 29 after inching up 0.3% in the previous week. United States
ADP National Employment Report
Oct. 2021: 571,000 m/m
The labor market recovery is gaining momentum again. United States
Factory Orders (M3)
Sep. 2021: 0.2% m/m
U.S. factory orders increased 0.2% in September following a revised 1% gain in August (previously 1.2%). United States
ISM Nonmanufacturing Index
Oct. 2021: 66.7
The U.S. nonmanufacturing sector expanded in October for the 17th month in a row. United States
Moody's Analytics Inflation Expectations Pulse
October 31: 2.47%
Historical data revisions could not shake the Moody’s Analytics Inflation Expectations Pulse from its perch just below 2.5%. United States
Oil Inventories
October 29: 434.1 mil barrels
A much larger-than-expected build in crude oil inventories should put downward pressure on oil prices. Australia
Datium Insights - Moody’s Analytics Used Vehicle Price Index
Oct. 2021: 12.7% y/y
Australian used-vehicle price appreciation accelerated for the first time in six months. Belgium
Unemployment
Sep. 2021: 6.3%
Russian Federation
Consumer Price Index
Oct. 2021: 8.1% y/y
Russia's annual inflation rate accelerated further in October, reaching a whopping 8.1% y/y after increasing by 7.4% previously. United States
FOMC Monetary Policy
Nov. 2021: 0% to 0.25%
As widely expected, the Federal Open Market Committee announced its plans to taper its monthly asset purchases by $15 billion later this month and again in December. Brazil
Foreign Trade
Oct. 2021: US$2.00 bil
Brazil’s trade surplus continued to moderate in October as imports kept accelerating. Australia
Foreign Trade
Sep. 2021:
Australia
Retail Sales
Sep. 2021:
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