| Today's Economy
Europe Daily Briefing: Shipping Rates Down, for Now Container costs eased through September, but the U.S. port strike complicates the outlook. Asia-Pacific Daily Briefing: U.S. Port Strikes Could Have Global Impacts Prolonged port disruptions along the U.S. East Coast will be felt across Asia. Economic Roundup: Strikes and JOLTS A large-scale work stoppage is underway at a number of East Coast ports. LatAm Daily Briefing: Extreme Weather Takes a Toll Climate change adversely affects regional economies. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Dockworker Strike Costs Will Mount The toll could reach $2 billion daily. A Good Euro Zone Inflation Print Changes the Outlook Core prices declined in September, suggesting strong disinflation this fall and paving the way for an interest rate cut this month from the ECB. Are Workers Too Pessimistic About the U.S. Labor Market? Sentiment has fallen further even as job growth remains positive, and the unemployment rate is relatively low. Accounting for the Immigration Surge The post-pandemic uptick has largely mitigated tightness in the U.S. labor market. » VIEW MORE COMMENTARY
Today's Economic Indicators
Italy
Unemployment
Aug. 2024: 6.2%
In August, Italy’s unemployment rate fell to 6.2%, below our forecast of 6.5%, thanks to a 2.8% drop in unemployment. Euro Zone
Unemployment
Aug. 2024: 6.4%
The euro zone unemployment rate remained at a historic low of 6.4% in August. United States
MBA Mortgage Applications Survey
September 27: -1.3%
Mortgage activity had been rising swiftly in recent weeks but took a step back in the week ended September 27. Brazil
Industrial Production
Aug. 2024: 3.3% y/y
Industrial production continued to advance in August in annual terms, supported by the manufacturing recovery together with construction. United States
Monthly GDP
Aug. 2024: 0.4% m/m
According to the Moody’s Analytics monthly estimate, real GDP increased 0.45% in August. United States
Oil Inventories
September 27: 416.9 mil barrels
Oil inventories had a surprise build of 3.9 million barrels in the week ended September 27 after the consensus expected a draw of 500,000 barrels. United States
Vehicle Sales - BEA
Sep. 2024: 15.8 mil, SAAR
U.S. new-vehicle sales were relatively stable in September compared with the rest of the year. Russian Federation
GDP
2024Q2: 4.1% y/y
The Russian economy’s expansion slowed in the second quarter, with aggregate GDP growth decelerating to 4.1% y/y from 5.4% in the first quarter, dragged down by weakening external demand and mounting supply-side constraints, primarily concerned with the labour market, bad weather conditions reducing agricultural output, and downtime at some refineries. Australia
Foreign Trade
Aug. 2024:
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