| Today's Economy
Economic Roundup: A Mild Disappointment for U.S. Consumer Spending Q4 GDP is coming in lighter than previously thought, but markets rally as tax bill odds improve. Trump Will Nominate Goodfriend to Federal Reserve Board He leans hawkish but could lead the debate on how to address the next recession. U.S. Consumer Spending Comes in Light in October Q4 GDP is now tracking 2.2%. Economic Briefing: Chinese Manufacturers Cheery Through Q4 Tech keeps lifting Japanese and Korean production; Bank of Korea hiked rates. » VIEW MORE TODAY'S ECONOMY
Commentary
Latin America Economic Preview: 4-8 December Inflation is below target in Brazil and Chile, and above target in Colombia and Mexico. Diagnosis Is Correct; Will Macron’s Reforms Be the Cure? French government seizes the opportunity to implement structural reforms and fiscal consolidation. Chile Outlook: Back to Normal The economy is recovering, but low capacity will restrain growth. Russia Outlook: A Modest Recovery Robust consumption and investments in the energy industry drive the turnaround. » VIEW MORE COMMENTARY
Today's Economic Indicators
Japan
Housing Starts
Oct. 2017: -4.8%
Japan's housing activity continues to dive. United Kingdom
Nationwide Housing Price Index
Nov. 2017: 2.5%
The Nationwide Housing Price Index remained stable at 2.5% y/y in November, below the consensus at 2.7%. Thailand
Private Consumption
Oct. 2017: 1.4%
Private consumption rose 1.4% y/y in October following a 2.9% rise in the prior month. Thailand
Foreign Trade
Oct. 2017: US$1.6 bil
Thailand’s trade surplus fell to US$1.6 billion in October from US$5.4 billion in September. Germany
Lending by Banks
Oct. 2017: 4.4%
German bank lending to the private sector rose further in October. Germany
Retail Sales
Oct. 2017: -1.2%
German retail sales disappointed at the start of the last quarter of this year, falling 1.2% m/m from September, when they rose by 0.5%. Spain
GDP
2017Q3: 0.8%
Spain's real GDP gained 0.8% q/q in the third quarter, only a touch lower than the 0.9% q/q expansion in the previous stanza. Germany
Unemployment
Nov. 2017: 5.6%
Germany’s seasonally adjusted unemployment rate remained at 5.6% in November, after falling to this record low in September. Italy
Unemployment
Oct. 2017: 11.1%
Italy’s unemployment rate stayed stable at 11.1% in October from September and declined from October 2016. Euro Zone
Preliminary Consumer Price Index
Nov. 2017: 1.5%
Euro zone annual harmonized inflation accelerated to 1.5% in November, above our expectations that it would be unchanged from 1.4% in the previous month. Euro Zone
Unemployment
Oct. 2017: 8.8%
The euro zone’s jobless rate fell to 8.8% in October, its lowest reading since January 2009, from 8.9% in September. Brazil
Employment Situation
Oct. 2017: 12.2%
Unemployment in Brazil continues to decline gradually as the recovery advances. India
GDP
2017Q3: 6.3%
Chile
Employment
Oct. 2017: 6.7%
The national unemployment rate averaged 6.7% in the August-October rolling quarter, up from 6.4% a year earlier. Canada
Balance of International Payments
2017Q3: -C$19.3 bil
Canada's seasonally adjusted current account deficit increased to C$19.3 billion in the third quarter, largely because the merchandise trade deficit widened for the third consecutive quarter. Canada
Earnings, Hours and Employment
Sep. 2017: 3.1%
Canadian earnings made significant gains in September, although the rate of job creation slowed. United States
Personal Income
Oct. 2017: 0.4%
Nominal personal income rose 0.4% in October, beating our forecast of a 0.3% increase. United States
PCE Deflator
Oct. 2017: 0.1%
U.S. inflationary pressures remain limited as the headline PCE deflator rose 0.1% between September and October. United States
Personal Spending
Oct. 2017: 0.1%
Consumer spending growth moderated in October as September’s surge in vehicle spending was not repeated, but its trend remains healthy. United States
Moody's Analytics Beige Book Index
Oct. 2017: 147.2
The Moody's Analytics Beige Book Index came in with a rating of 147 for November’s edition of the Federal Reserve report, reaching its highest point in more than a decade. United States
Jobless Claims
November 25: 238,000
Initial claims for unemployment insurance benefits provide further confirmation of a healthy labor market. United States
St. Louis Fed Financial Stress Index
November 24: -1.679
Financial stress conditions fell sharply to -1.68 as U.S. stocks posted modest gains. South Korea
Foreign Trade
Nov. 2017:
United States
Natural Gas Storage Report
November 24: -33 bil cubic feet
The decline in natural gas inventories was roughly in line with what industry analysts were expecting, which will have little effect on prices. Argentina
Industrial Production - Advance
Oct. 2017: 4.4%
According to Argentina’s statistics office, industrial output expanded 4.4% y/y in October (NSA), up from 2.3% in the previous month. United States
Agricultural Prices
Oct. 2017: -5.2%
Agricultural prices continued their downward slide in October. World
Moody's Analytics Global HPI
2017Q3: 6.6%
South Korea
GDP
2017Q3:
South Korea
Consumer Price Index
Nov. 2017:
Japan
Household Expenditures Survey
Oct. 2017:
Japan
Consumer Price Index
Oct. 2017:
Japan
Employment Situation
Oct. 2017:
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