| Today's Economy
Slow and Steady Wins the Race Europe’s energy crisis makes the case for immediate yet gradual CO2 reduction. LatAm Daily Briefing: Agricultural Prices Boost Argentinian Exports Higher prices for soybean products lead to a surge in the nation’s exports. Capital Market View: How Will Markets Respond to Even Higher Inflation? To get a sense, look at the U.S. inflation swaps. Europe Daily Briefing: Anticipating This Week’s ECB Meeting We expect no policy changes but much discussion about inflation. » VIEW MORE TODAY'S ECONOMY
Commentary
This Week in the COVID-19 Recovery Concern that high U.S. inflation will persist is understandable, but overdone. Global Outlook: Peak Growth, Rising Uncertainty The evolving virus, supply bottlenecks and inflation pressures cloud the outlook. Emerging Market View: Sticker Shock Inflation hurts more in these economies. U.S. Weekly Highlights and Preview, October 25, 2021 Our high-frequency GDP model has third-quarter growth on track for 1.4% at an annualized rate, half the consensus. » VIEW MORE COMMENTARY
Today's Economic Indicators
Singapore
Industrial Production
Sep. 2021: -3.4% y/y
Singapore’s industrial production index slipped by 3.4% y/y in September, marking the first yearly decline since October 2020. Finland
Unemployment rate
Sep. 2021: 7%
Finland’s not seasonally adjusted unemployment rate dropped to 7% in September from 7.5% a year earlier, bringing the unemployment rate in the third quarter to 6.9%, 0.7 percentage point lower than last year. Hong Kong SAR (China)
Foreign Trade
Sep. 2021: -HK$42.4 bil
Hong Kong's trade deficit widened more than expected to HK$42.4 billion in September, from HK$26.3 billion in August. United States
Philadelphia Fed Nonmanufacturing Survey
Oct. 2021: 34.3
Nonmanufacturing activity expanded at a healthy tempo in October for the Third Federal Reserve District, according to the Philly Fed's Nonmanufacturing Business Outlook Survey. United States
FHFA Purchase-Only House Price Index
Aug. 2021: 18.5% y/y
The Federal Housing Finance Agency Purchase-Only House Price Index increased 18.5% from a year earlier in August. United States
S&P CoreLogic Case-Shiller® Home Price Indexes
Aug. 2021: 19.7% y/y
House-price appreciation cooled slightly in August, as measured by the S&P CoreLogic Case-Shiller 20-City Composite Index, snapping its 13-month-long streak of quicker year-over-year price growth. United States
New-Home Sales
Sep. 2021: 800,000 SAAR
U.S. new-home sales came in better than expected in September, but rising mortgage rates will test the market in the next few months. United States
Conference Board Consumer Confidence
Oct. 2021: 113.8
U.S. consumer confidence improved in October as the number of COVID-19 cases has begun to move in the right direction. United States
Richmond Fed Manufacturing Survey
Oct. 2021: 12
Factory activity in the Richmond Federal Reserve District rebounded in October. United States
Texas Service Sector Outlook Survey
Oct. 2021: 19.6
Texas service sector activity strengthened in October. United States
Moody’s Analytics Policy Uncertainty Index
October 22:
Argentina
Retail Sales Index
Aug. 2021: 1,660% y/y
The index that tracks nominal sales at Buenos Aires’ largest shopping centers increased 1,660% y/y in August after 3,518% in the previous month. South Korea
Consumer Sentiment Index
Oct. 2021:
Australia
Consumer Price Index
2021Q3:
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