| Today's Economy
Economic Roundup: Philadelphia's Service-Sector Surge In October, nonmanufacturing activity expanded briskly in the Fed's Third District. The Great British Fiscal Standoff Public-sector borrowing is at multi-decade highs ahead of next week's October budget. Europe Daily Briefing: Difficult Decisions U.K. public borrowing in the first half of the fiscal year came in ahead of official forecasts. LatAm Daily Briefing: IMF Upgrades 2024 Outlook A revised forecast shows a small uptick in growth for the region. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Outlook: An Exceptional Economy For it to continue in this way will require the presidential election and its outcome to play out in a reasonably graceful way. Nearshoring in Mexico: The Next Chapter U.S. protectionism, lower export sophistication are the key challenges ahead. U.S. Chartbook: Feeling Good The economy is strong, supported by a robust consumer. Wealthy Led U.S. Spending Growth in 2023 Gains in wealth and remaining excess savings allowed high-income households to grow their already-dominant share of spending. » VIEW MORE COMMENTARY
Today's Economic Indicators
Hong Kong SAR (China)
Consumer Price Index
Sep. 2024: 2.2% y/y
Hong Kong's headline composite consumer price index rose 2.2% year over year in September, narrower than August’s reading of 2.5% and lower than our expectations of 2.4%. Mexico
Economic Activity Index
Aug. 2024: 0.4% y/y
Economic activity continued to lose steam in August, dragged down by the industrial weakness, mainly explained by the contractionary phase of the political transition. United States
Philadelphia Fed Nonmanufacturing Survey
Oct. 2024: 26.5
Service-sector activity expanded briskly in October, according to the latest survey from the Philly Fed. Canada
Industrial Product and Raw Materials Price Indexes
Sep. 2024: -0.6% m/m
The Industrial Product Price Index slipped 0.6% in September. United States
Richmond Fed Manufacturing Survey
Oct. 2024: -14
According to the Richmond Fed Manufacturing Survey, factory activity remained weak in the Federal Reserve’s Fifth District in October. United States
Regional and State Employment
Sep. 2024:
The regional and state employment outlooks for September confirm the steadiness of the labor market. South Korea
Consumer Sentiment Index
Oct. 2024:
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