| Today's Economy
Economic Roundup: Layoffs Decline but Remain Alarmingly High With people exhausting their benefits, continuing claims dropped sharply last week. LatAm Daily Briefing: A Bit Less Gloomy Colombia consumer expectations improved somewhat. Europe Daily Briefing: Stimulus in the Pipeline for the BoE The minutes of the bank's meeting made no mention of Brexit risks. Asia-Pacific Daily Briefing: New Zealand's Deepest Economic Slump Australia's unemployment rate fell in August, and the Bank of Japan stood pat in September. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Holiday Sales Should Outperform the Economic Environment The risks remain very high. Global Outlook: A Divergent Recovery China’s V-shape rebound sets itself apart, but downside risks predominate. Australia's Unstoppable Used-Vehicle Prices The meteoric rise in wholesale prices has taken place as Aussie unemployment has reached its highest point in 20 years. Peru Outlook: Andean Tiger by the Tail Latin America's star pupil faces a daunting road to recovery. » VIEW MORE COMMENTARY
Today's Economic Indicators
Japan
Monetary Policy
Sep. 2020: ¥80 tril.
The Bank of Japan expectedly kept its monetary settings unchanged in September; the short-term interest rate was held at -0.1%. Euro Zone
Consumer Price Index
Aug. 2020: -0.2%
Final numbers confirmed that euro zone consumer prices fell by 0.2% y/y in August following a 0.4% increase in July. United Kingdom
Monetary Policy and Minutes
Sep. 2020: 0.1%
That the Bank of England stood pat in September didn’t come as a surprise, but the minutes of the meeting were certainly less dovish than forecast. United States
Jobless Claims
September 12: 860,000
Initial claims for unemployment insurance benefits fell 33,000 to 860,000 in the week ended September 12, but this should be taken with a grain of salt. United States
Philadelphia Fed Survey
Sep. 2020: 15.0
Factory activity expanded in September in the Third Federal Reserve District, albeit at a marginally weaker pace than last month. United States
New Residential Construction (C20)
Aug. 2020: 1.416 mil
The U.S. housing market has been red hot, but it appears to have cooled some in August. Canada
ADP Canada National Employment Report
Aug. 2020: -205,433
The Canadian job market remains in the doldrums but is showing signs of improvement. United States
Monthly GDP
Jul. 2020: 1.9%
The U.S. economy continues to bounce back from the COVID-19 crisis, but growth has moderated. United States
State and Local Government Tax Revenue
2020Q2: -29.0%
The impact of the recession on state coffers is coming into sharper focus. United States
St. Louis Fed Financial Stress Index
September 11: -0.14
The St. United States
Natural Gas Storage Report
September 11: 89 bil cubic feet
The rise in natural gas inventories surpassed analyst predictions, a negative for gas prices. Japan
Consumer Price Index
Aug. 2020:
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