| Today's Economy
No Truss(t) Enormous economic challenges will face the successor to Liz Truss, who is leaving after just 45 days as U.K. prime minister—the shortest-term PM ever. Economic Roundup: U.K. in Disarray Political uncertainty will weigh on U.K. financial conditions and its economic outlook. LatAm Daily Briefing: Venezuelan Migrants—No Place to Go Millions are caught between old and new homelands. Europe Daily Briefing: U.K. Is Digging Its Own Hole Prime Minister Liz Truss resigns after several weeks of failed policies and U-turns. » VIEW MORE TODAY'S ECONOMY
Commentary
Russia-Ukraine Tracker: EU Acts on Gas Crisis The commission unveiled plans to lower energy costs. U.S. Credit Outlook: Market Slows, Recession Risk Grows As inflation persists, there's concern that overextended lower-income borrowers may push up delinquency and default rates. Japan Risk Matrix: The Late Recovery Remains Fragile What could go wrong? Quite a lot, actually. U.S. Weekly Highlights and Preview, October 17, 2022 Our baseline forecast is still for the Fed to engineer a soft landing and the economy to skirt a recession. » VIEW MORE COMMENTARY
Today's Economic Indicators
Netherlands
Unemployment
Sep. 2022: 3.8%
The Dutch unemployment rate was unchanged in September, holding on to 3.8% from the previous month. Indonesia
Monetary Policy
Oct. 2022: 4.75%
Bank Indonesia raised the seven-day reverse repo rate by 50 basis points to 4.75% in October’s meeting, in line with market consensus and our expectations. Hong Kong SAR (China)
Employment Situation
Sep. 2022: 3.9%
The seasonally adjusted unemployment rate in Hong Kong dropped to 3.9% for the July-to-September period, compared with 4.1% for the June-to-August period. United States
Moody's Analytics Beige Book Index
Oct. 2022: 30.6
The Moody’s Analytics Beige Book Index fell from 61.1 in September to 30.6 in October. United States
Jobless Claims
October 15: 214,000
U.S. initial claims for unemployment insurance benefits unexpectedly fell by 12,000 to 214,000 in the week ended October 15. United States
Philadelphia Fed Survey
Oct. 2022: -8.7
According to the Philly Fed’s manufacturing survey, activity contracted from September to October, albeit at a slower pace than August to September’s reduction. United States
Existing-Home Sales
Sep. 2022: 4.71 mil, SAAR
Rising mortgage rates continue to hammer existing-home sales as housing affordability further erodes. United States
Conference Board Leading Indicators
Sep. 2022: -0.4%
Reflecting the rather downbeat sentiment regarding the state of the U.S. economy, the Conference Board Leading Economic Index fell again. United States
Natural Gas Storage Report
October 14: 111 bil cubic feet
Last week’s build in natural gas inventories yet again exceeded expectations and was larger than historical norms for this time of year. Argentina
Economic Activity Indicator
Aug. 2022: 6.4% y/y
The statistics office’s monthly economic activity index increased 6.4% year on year in August after rising 5.6% y/y in the previous month. New Zealand
Foreign Trade
Sep. 2022:
Japan
Consumer Price Index
Sep. 2022:
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