| Today's Economy
Economic Roundup: Bounce Back Given temporary effects that kept October’s payroll change subdued, November's gain was expected. Geopolitical Risk Calendar: French Government Collapse Also, South Korea’s President Yoon Suk Yeol faces an impeachment vote Saturday. Canada Weekly: Makin' A List, Checkin' It Twice A tax break on holiday goods comes as the government faces pressure on its finances. Europe Daily Briefing: The Olympic Jump Consumers and government drove euro zone growth in the third quarter. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Weekly Highlights and Preview, December 6, 2024 We expect no major surprises on the inflation front, but the final push toward the Federal Reserve’s 2% inflation target will be a bumpy one. Latin America Weekly Highlights and Preview, December 6, 2024 Inflation is low in Peru, static in Uruguay. U.S. Jobs Report Cont’d: Bounce Back Given temporary effects that kept October’s payroll change subdued, November's gain was expected. Global Consequences of Trump Tariff Proposals This is a wrap-up of our continuing analysis. » VIEW MORE COMMENTARY
Today's Economic Indicators
Japan
Consumption Activity Index
Oct. 2024: -0.4% m/m
The Bank of Japan’s real consumption activity index, adjusted for travel, fell 0.4% month over month in October, a larger drop than we had expected. Germany
Industrial Production
Oct. 2024: -1% m/m
Industrial production fell by a further 1% in October compared with the previous month. Euro Zone
GDP
2024Q3: 0.4% q/q
Third-quarter GDP growth in the euro zone was confirmed at 0.4% q/q, up from 0.2% in the second. Italy
Retail Sales
Oct. 2024: -0.5% m/m
In October, Italy’s retail sales fell by 0.5% month over month, worse than our forecast of a 0.2% drop, as both food and nonfood spending came in lower than expected. Chile
Consumer Price Index
Nov. 2024: 4.17% y/y
As expected, Chile’s annual inflation trended down as consumer prices moderated after a significant rebound in the previous month. Canada
Labor Force Survey
Nov. 2024: 6.8%
Despite a solid gain in total employment, the unemployment rate jumped higher in November as hiring could not keep pace with a wave of new job seekers. United States
Employment Situation
Nov. 2024: 227,000 m/m
As expected, the November employment report marked a significant improvement after hurricanes and strikes weighed on October job growth. United States
University of Michigan Consumer Sentiment Survey
Dec. 2024: 74.0
The University of Michigan consumer sentiment index posted its fifth straight gain in December, though all the gains have been small. Canada
Purchasing Managers' Index
Nov. 2024: 52.3
The Ivey Purchasing Managers’ Index ticked up to 52.3 from 52 in November. Argentina
Industrial Production - Advance
Oct. 2024: -2.0% y/y
Industrial output shrank by 2% in October compared with the previous year, following a 6% decline in September. United States
Consumer Credit (G19)
Oct. 2024: $19.2 bil
The stock of consumer credit outstanding expanded by $19.2 billion in October, well above consensus expectations for an $11 billion gain. Colombia
Consumer Price Index
Nov. 2024:
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