Economy.com Daily Update: April 22, 2021

Today's Economy

Sales fell in March, reversing only some of the enormous jump in the second half of last year.

Brexit and COVID-19 have caused disruptions, but there are opportunities.

New daily cases have surged in the region to a record high.

Issuance in March was strong and the near-term outlook is favorable.

Commentary

Export-driven sectors are on the mend, while domestic demand is subdued.

The proposal is fiscally responsible and empowers programs already in place and shown to be effective in meeting the challenges of providing affordable housing.

Revised data for 2020 show that early predictions about U.S. regional impacts generally proved correct.

The region hosts four of the five biggest science and technology research clusters.

Today's Economic Indicators

Netherlands
Unemployment
Mar. 2021: 3.5%
The unemployment rate in the Netherlands dropped slightly to 3.5% in March.

Euro Zone
Monetary Policy
Apr. 2021: 0%
As expected, the European Central Bank’s interest rates and asset purchase programs remained unchanged after its April meeting.

Canada
New Housing Price Index
Mar. 2021: 7.9%
New-home prices measured another large gain in March, continuing their hot streak.

United States
Chicago Fed National Activity Index
Mar. 2021: 1.71
The Chicago Fed National Activity Index rebounded strongly to 1.71 in March, coming off an adjusted -1.20 in February.

United States
Jobless Claims
April 17: 547,000
U.S. initial claims for unemployment insurance benefits unexpectedly fell by 39,000 to 547,000 in the week ended April 17, putting new filings at their lowest since March 2020.

Mexico
Employment Situation
Mar. 2021: 3.9% Unemployment
Unemployment in Mexico adjusted down in March as more jobs were created as businesses reabsorbed some labor.

United States
Existing-Home Sales
Mar. 2021: 6.01 mil, SAAR
Existing-home sales fell 3.7% in March to 6.01 million units annualized, dropping back near their level reached in August.

United States
St. Louis Fed Financial Stress Index
April 16: -0.87
The St.

United States
Conference Board Leading Indicators
Mar. 2021: 1.3%
The Conference Board's Leading Economic Index increased 1.3% in March, a touch stronger than expected.

United States
Natural Gas Storage Report
April 16: 38 bil cubic feet
Last week’s increase in natural gas inventories was below analyst expectations, so this report should have a small positive effect on prices.

United States
Kansas City Fed Manufacturing Survey
Apr. 2021: 31
Manufacturing activity pressed ahead in the 10th Federal Reserve District.

Argentina
Economic Activity Indicator
Feb. 2021: -2.57% y/y
The statistics office’s monthly economic activity index dropped 2.6% y/y in February after declining 2.2% in the previous month.

South Korea
GDP
2021Q1:

Japan
Consumer Price Index
Mar. 2021: