| Today's Economy
Economic Roundup: Awaiting August's Employment Report After a downside surprise last month, we look for employment to have grown by 180,000 in August. Final Thoughts Ahead of August U.S. Employment We expect the economy added 180,000 jobs, on net, in August. Europe Daily Briefing: A Look Under the Hood Germany's retail sales, construction PMIs and factory orders are still on shaky ground. Asia-Pacific Daily Briefing: Inflation Tumbles in the Philippines and Thailand Philippine inflation hit a seven-month low of 3.3%; Thai inflation halved in a month to 0.4% y/y. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Inflation Tracker: Another Good Month The inflation outlook is solidly positive. Don’t Get Carried Away With Yen’s Recovery The yen could yet be a punching bag for speculators. China’s ‘New Three’ Push to Boost Mining Investment in Africa Chinese FDI in Africa will also favour construction and logistics. U.S. Chartbook: Easing In for a Soft Landing With no surprises in July’s PCE deflator data, the Federal Reserve can begin normalizing interest rates this month. » VIEW MORE COMMENTARY
Today's Economic Indicators
Malaysia
Monetary policy
Sep. 2024: 3%
Bank Negara Malaysia met expectations and held its overnight policy rate at 3% at its September meeting. Taiwan (China)
Consumer Price Index
Aug. 2024: 2.4% y/y
Taiwan’s inflation took a breather, clocking in at 2.4% year over year in August, slightly cooling from 2.5% in July. Euro Zone
Retail Sales
Jul. 2024: 0.1% m/m
The euro zone’s retail sales rose 0.1% month over month in July after a 0.4% decline in June. Ireland
GDP
2024Q2: -1.0% q/q
GDP in Ireland remains volatile, driven by activity in the multinational sector. United States
Challenger Report
Aug. 2024: 75,891
Layoffs rose sharply in August, hitting their highest level since March. United States
Jobless Claims
August 31: 227,000
U.S. jobless claims continue to retreat from their recent high. United States
Moody's Analytics Beige Book Index
Sep. 2024: 19.4
The Moody’s Analytics Beige Book Index fell in September to 19.4, down from 27.8 in the prior report. United States
Productivity and Costs
2024Q2: 2.5%, q/q, SAAR
U.S. labor productivity increased 2.5% annualized in the second quarter, according to the Bureau of Labor Statistics’ second estimate. United States
St. Louis Fed Financial Stress Index
August 30: -0.63
U.S. financial market stress eased slightly to -0.63 in the week ended August 30, according to the St. United States
ISM Nonmanufacturing Index
Aug. 2024: 51.5
In August, the ISM nonmanufacturing survey ticked up slightly from July. United States
Natural Gas Storage Report
August 30: 13 bil cubic feet
Gas stocks rose by much less than analysts predicted last week, which could push up on prices somewhat. United States
Oil Inventories
August 30: 418.3 mil barrels
Oil inventories had a higher draw than anticipated, which could put some upward pressure on prices. Brazil
Foreign Trade
Aug. 2024: US$4.828 bil
Brazil’s trade account remained in positive territory in August, despite the moderation in exports and acceleration in imports. Philippines
Industrial Production
Jul. 2024:
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