Economy.com Daily Update: April 9, 2021

Today's Economy

The period had the most acquisition-related loans since 2018.

U.S. economic data remain mostly positive with the recovery expected to accelerate this year.

The output from at-home workers will determine the speed of potential GDP growth.

Rioting in Northern Ireland over the past week will bring Brexit back into the spotlight.

Commentary

COVID-19 inoculations have fallen short of goals, leaving the economy vulnerable to localized outbreaks.

In Peru, the jobless rate in the Lima metropolitan area likely hit 15.3% in the January to March rolling quarter, the highest since October.

Among the major economies, inflation pressures are mounting most in Germany.

Favourable base effects are inflating China's quarterly GDP.

Today's Economic Indicators

Malaysia
Industrial Production
Feb. 2021: 1.5% y/y
Malaysia's industrial production grew by 1.5% y/y in February, following a 1.2% increase in the previous month.

Canada
RPS House Price Index
Mar. 2021:

Switzerland
Unemployment rate
Mar. 2021: 3.3%
Switzerland’s seasonally adjusted unemployed edged down to 3.3% in March from 3.4% in the previous month.

Finland
Industrial Production
Feb. 2021: 3.4%
Finland’s industrial production expanded by 3.4% m/m in February after a downwardly revised 0.2% increase in January.

Norway
Consumer Price Index
Mar. 2021: 3.1
Norway's consumer price index softened a touch in March, printing at 3.1% y/y and -0.3% m/m.

France
Industrial Production
Feb. 2021: -4.7%
France’s headline industrial production took a tumble in February, declining by 4.7% m/m after a downwardly adjusted increase of 3.2% m/m in January.

Spain
Industrial Production
Feb. 2021: 0.0%
Spain's industrial production index remained flat in monthly terms in February, after falling by 0.8% m/m in January.

Italy
Retail Sales
Feb. 2021: 6.6% m/m
Italy’s retail sales surged by 6.6% m/m in February after falling in January, as higher consumer confidence likely boosted nonfood spending.

Germany
Industrial Production
Feb. 2021: -1.6%
German industrial production decreased by 1.6% m/m in February after January’s upwardly revised contraction of 2%.

Brazil
Consumer Price Index
Mar. 2021: 6.10% y/y
Annual inflation in Brazil accelerated in March, trending above the target’s upper limit.

Mexico
Industrial Production
Feb. 2021: -4.5% y/y
Mexico’s industry reported an annual contraction in February, as COVID-19 advanced further and affected some activities.

Canada
Labor Force Survey
Mar. 2021: 7.5%
Canada's labor market continued to improve in March.

United States
Producer Price Index
Mar. 2021: 1.0% m/m
The producer price index increased by 1% in March, fueled by outsize growth in prices of energy and transportation/warehousing.

Peru
Monetary Policy
Apr. 2021: 0.25%
The Central Reserve Bank of Peru kept rates on pause in its April meeting, leaving the reference rate unchanged at 0.25%.

Netherlands
Industrial Production
Feb. 2021: -1.6% y/y
Industrial production in the Netherlands took a step back in February as public health forced certain subsectors to reduce capacity.

United States
Moody’s Analytics & CNN Business Back-to-Normal Index
April 07: 85.9
The Moody’s Analytics & CNN Business Back-to-Normal Index took a breather this week, moving backward 0.4 point from a revised 86.3 to 85.9.

Russian Federation
Foreign Trade
Feb. 2021: US$8.3 bil
Russia’s trade balance slipped further in February.

United States
Wholesale Trade (MWTR)
Feb. 2021: 0.6% m/m
Wholesale inventories grew 0.6% in February.

United States
Semiconductor Billings
Feb. 2021: -1.0%
Global semiconductor sales totaled $39.6 billion in February.