Economy.com Daily Update: October 28, 2016

Today's Economy

The model deserves a B for the U.S. third quarter.

Numerous challenges will restrain Latin American energy production.

A move to debtor status would not signal economic weakness.

Sobyeans leave an impression on the third quarter and could be an issue in the fourth.

Commentary

Trends remained weak, and BoJ easing was still insufficient.

Inflation declines in Peru and Uruguay.

Euro zone GDP for the third quarter likely grew at a broadly steady pace.

Asian central banks will likely maintain monetary policy settings in November.

Today's Economic Indicators

France
GDP
2016Q3: 0.2%
First numbers indicated that France's GDP increased 0.2% q/q in the three months to September after it slid 0.1% in the previous quarter.

France
Household Consumption Survey
Sep. 2016: -0.2%
French household consumption fell 0.2% month over month in September after it ticked up 0.7% in August.

France
Producer Price Index
Sep. 2016: -1.7%
Although annual producer price deflation in France is easing, producer prices fell 1.7% y/y in September, following a revised 1.8% drop in the previous month.

Euro Zone
Business and Consumer Sentiment
Oct. 2016: 106.3
The euro zone's economic sentiment indicator improved to 106.3 in October from 104.9 in September.

Russian Federation
Monetary Policy
Oct. 2016: 10%
Bank of Russia kept the key policy rate unchanged at its meeting Friday, at 10%.

Chile
Employment
Sep. 2016: 6.8%
The national unemployment rate averaged 6.8% in the July-September period, up from 6.4% a year earlier.

Chile
Manufacturing Production
Sep. 2016: 1.4%
The national industry advanced a little in September but still underperformed.

Chile
Retail Sales
Sep. 2016: 7.4%
Retail sales rebounded strongly in September, rising 7.41% y/y after a mere 0.23% gain in the previous month.

United States
Employment Cost Index
2016Q3: 0.6%
The labor market continues to tighten but still has room to improve.

United States
GDP
2016Q3: 2.9%
After three quarters of weak GDP growth, the U.S. economy rebounded by this measure in the third quarter.

United States
University of Michigan Consumer Sentiment Survey
Oct. 2016: 87.2
The final October University of Michigan consumer sentiment report showed a drop in sentiment to 87.2, losing 4 points from September, and dropping to its lowest level since September 2015.

United States
ECRI Weekly Leading Index
October 21: 138.6
The ECRI Weekly Leading Index fell in the week ended October 21, dropping to 138.6 from 139.6.