| Today's Economy
Ouch! Vehicle Sales Put Big Dent in GDP Estimate Our tracking shows third-quarter growth decelerating significantly; it is now 3.9% at an annualized rate. Capital Market View: Reading Friday’s Tea Leaves Liquidity is usually an issue going into holiday weekends and that could cause a big move in yields. LatAm Daily Briefing: Brazil’s Economy Recovers Its Pre-Pandemic Output The Brazilian economy returns to its precrisis GDP despite a second-quarter rise in COVID-19 infections. Final Thoughts Ahead of August U.S. Employment It's August, so take the under; we look for employment to have risen 500,000. » VIEW MORE TODAY'S ECONOMY
Commentary
Asia Capital Market View: Wavering Prospects The recovery faces headwinds from renewed COVID-19 outbreaks and shaken investor confidence in bond markets. Japanese Economy Struggles as Politics Heat Up The prime minister's Liberal Democratic Party may weaken even if it retains power. Canada Outlook: Home Versus Abroad Encouraging progress on the domestic front clashes with mounting downside risks globally. China Risk Matrix Update: Growing Headwinds Sustained overregulation in the private sector could undermine market efficiency and stymie innovation. » VIEW MORE COMMENTARY
Today's Economic Indicators
Switzerland
Consumer Price Index
Aug. 2021: 0.9%
Swiss inflation inched up to 0.9% y/y in August, 0.2 percentage point above July’s reading. Switzerland
GDP
2021Q2: 1.8% q/q
Swiss GDP recovered from its first quarter slump, growing by 1.8% q/q. Switzerland
Retail Sales
Jul. 2021: -2.6% y/y
Retail sales in Switzerland slumped for the fourth month in a row in July. Austria
GDP
2021Q2: 3.6% q/q
Austria’s poor performance in the first quarter was offset by stronger than average growth in the second. Ireland
GDP
2021Q2: 6.3% q/q
Irish GDP grew strongly in the second quarter of 2021, increasing by 6.3% q/q following an 8.7% increase in the first quarter. United States
Challenger Report
Aug. 2021: 15,723
Job cut announcements fell to 15,723 in August, the lowest level since 1997 and the fifth straight month with job cuts below 25,000. Brazil
Industrial Production
Jul. 2021: 1.4% y/y
The national industry continued to moderate in monthly and annual terms in July. United States
Vehicle Sales - BEA
Aug. 2021: 13.1 mil, SAAR
Annualized U.S. new-vehicle sales fell again in August. Canada
International Merchandise Trade
Jul. 2021: C$ 778 mil
In July, Canada's merchandise imports rose by 4.2% while exports increased by 0.6%. United States
Productivity and Costs
2021Q2: 2.1%, q/q, SAAR
U.S. productivity growth in the second quarter was revised downward. United States
International Trade (FT900)
Jul. 2021: -$70.1 bil
The U.S. nominal trade deficit narrowed more than we anticipated in July, a positive for third-quarter GDP growth. United States
Jobless Claims
August 28: 340,000
U.S. initial claims for unemployment insurance are improving again. United States
Factory Orders (M3)
Jul. 2021: 0.4% m/m
U.S. factory orders increased a touch less than anticipated in July, rising 0.4%. United States
St. Louis Fed Financial Stress Index
August 27: -1.00
Financial market stress edged lower last week, with the St. World
Moody's Analytics Global HPI
2021Q2: 10.5% y/y
The Moody’s Analytics Nominal World House Price Index increased by 10.5% y/y in the second quarter of 2021, following a downwardly revised 7.9% increase in the first quarter. United States
Natural Gas Storage Report
August 27: 20 bil cubic feet
The increase in gas stocks last week was just under analyst predictions, suggesting that this report will put some upward pressure on gas prices. Brazil
Foreign Trade
Aug. 2021: US$7.665 bil
Brazil's trade balance posted a surplus in August as the value of exports remains high and despite the growth of imports. » VIEW MORE ECONOMIC INDICATORS | 