| Today's Economy
Economic Roundup: Recalibration The FOMC opted for an aggressive 50-basis point cut to start the easing cycle. Europe Daily Briefing: A Step Away From Target Inflation rates in the euro zone and the U.K. reached 2.2% y/y in August. Asia-Pacific Daily Briefing: Japanese Core Private Machinery Orders Slip A 0.1% m/m fall in August went against the market consensus for a 0.5% increase. Economic Roundup: Builders Feel Better, Not Good After months of declines, the NAHB housing market index ticked up in September. » VIEW MORE TODAY'S ECONOMY
Commentary
Boeing Strike Spells Modest Economic Turbulence The walkout by more than 33,000 workers could lead to meaningfully slower growth for the Puget Sound region. Canada Risk Matrix: Labor Strikes Back The specter of strikes raises concern over supply-chain disruptions. Taiwan Risk Matrix: Out of the Woods Household spending should rise in 2025. U.S. Banking Conditions Tracker: Easier Endgame An easing of capital requirements comes in response to energetic feedback from banks, business groups and lawmakers on the potential impact of the original proposal. » VIEW MORE COMMENTARY
Today's Economic Indicators
United States
Moody's CMBS Delinquency Tracker
Aug. 2024: 6.47%
The Moody’s Delinquency Tracker total delinquency rate rose 11 basis points to 6.47% in August. United Kingdom
Consumer Price Index
Aug. 2024: 2.2% y/y
In August, consumer price inflation was 2.2%, unchanged from July. Indonesia
Monetary Policy
Sep. 2024: 6.00%
Bank Indonesia cut its BI-rate by 25 basis points to 6% at its September meeting. Austria
Consumer Price Index
Aug. 2024: 2.3% y/y
In August, Austria's CPI fell to 2.3% year over year from 2.9% in July, marking its lowest reading since April 2021. India
Foreign Trade
Aug. 2024: -US$29.7 bil
India's merchandise trade deficit widened in August to $29.7 billion from $23.5 billion in July. Euro Zone
Consumer Price Index
Aug. 2024: 2.2% y/y
The euro zone’s HICP inflation rate was confirmed at 2.2% y/y this August, down from 2.6% in July. United States
MBA Mortgage Applications Survey
September 13: 14.2%
Declining rates are juicing mortgage activity. United States
New Residential Construction (C20)
Aug. 2024: 1.356 mil, SAAR
U.S. residential construction increased in August. Canada
International Transactions in Securities
Jul. 2024: C$11.0 bil
Foreign investors purchased C$11 billion of Canadian securities on net in July, while Canadians reduced their acquisitions of foreign securities to C$4.5 billion following a C$16.4 billion investment in June. United States
State and Local Government Tax Revenue
2024Q2: 8.1% y/y
Growth in state tax revenues accelerated sharply in the second quarter of 2024, with revenues rising 8.1% from the same period a year earlier. United States
Oil Inventories
September 13: 417.5 mil barrels
Oil inventories had a draw of 1.6 million barrels in the week ended September 13, a larger draw than the consensus estimate of 1 million barrels. United States
FOMC Monetary Policy
Sep. 2024: 4.75% to 5.00%
For the first time since early 2020, the Federal Open Market Committee announced a cut to its main policy rate. Argentina
GDP
2024Q2: -1.7% y/y
The Argentine economy contracted 1.7% y/y in the second quarter as the new government's aggressive stabilization program continued to dampen domestic demand. United States
Treasury International Capital Flows
Jul. 2024: $135.4 bil
Net long-term international capital flows rose $135.4 billion in July, compared with net inflows of $80.5 billion in June. Brazil
Monetary Policy
Sep. 2024:
New Zealand
GDP
2024Q2:
Australia
Employment Situation
Aug. 2024:
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