Today's Economy Economic Roundup: Pop in U.S. Q4 GDP Masks Weak Details Inventories played an enormous role in the gain in GDP, but sets up trouble for Q1. Capital Market View: High-Yield Spreads Widen but Issuance Remains Solid The corporate bond market is not immune to the recent tightening in the financial markets. LatAm Daily Briefing: Fiscal Challenges for New Chile President President-elect Boric will need to balance social programs with the country's debt. Europe Daily Briefing: Spanish Unemployment Falls in Q4 Spain's unemployment rate fell to its lowest since the Great Recession. » VIEW MORE TODAY'S ECONOMY
Commentary Is Opportunity Knocking for the U.S. Midwest? The stars may be aligning for parts of a region that has long been overlooked. RBA Preview: A More Abrupt Adjustment Likely Australia's central bank should not have tied policy normalisation to current wage outcomes. U.S. State and Local Outlook: Spending Ahead New hiring is the one area governments will have a tough time spending money on. Global Vaccine Tracker: Pandemic Persistence Many businesses are struggling to deliver goods and services and are curtailing activity. » VIEW MORE COMMENTARY
Today's Economic Indicators
Taiwan (China) GDP 2021Q4: 4.9% y/y Taiwan's headline economic growth in the fourth quarter of 2021 was 4.9% over the year, in line with our expectations for 4.6% growth. Spain Unemployment 2021Q4: 13.3% Spain’s unemployment rate inched down to 13.3% in the three months to December from 14.6% in the previous quarter. Hong Kong SAR (China) Foreign Trade Dec. 2021: -HK$32.8 bil Hong Kong's trade deficit widened to HKD32.8 billion in December, from HKD11.6 billion in November. Norway Unemployment rate Nov. 2021: 3.4% Norway's quarterly unemployment rate dropped to 3.4% in the last quarter of 2021. Mexico Trade Balance Dec. 2021: US$590.3 mil Mexico’s trade balance ended the year with a small surplus after consecutive deficits in the previous few months. Canada Earnings, Hours and Employment Nov. 2021: 1.9% y/y Job growth in November edged higher by 0.2% in year-ago terms after a more robust gain of 2.7% in October. United States Jobless Claims January 22: 260,000 The Omicron COVID-19 variant's grip on the U.S. labor market is beginning to loosen. United States Durable Goods (Advance) Dec. 2021: -0.9% m/m U.S. durable-goods orders fell 0.9% in December following a upwardly revised 3.2% gain (previously 2.5%). United States GDP 2021Q4: 6.9%, q/q, SAAR U.S. United States Pending Home Sales Dec. 2021: 117.7 The NAR pending home sales index fell 3.8% to 117.7 in December, adding to November’s losses, and falling back near its level reached in September. United States St. Louis Fed Financial Stress Index January 21: -0.60 Overall, financial conditions remain accommodative thanks to policy measures to support the economy. United States Natural Gas Storage Report January 21: -219 bil cubic feet Last week’s draw in natural gas stocks slightly beat analyst expectations, so this report will put modest upward pressure on gas prices. United States Kansas City Fed Manufacturing Survey Jan. 2022: 24 Manufacturing activity in the Tenth District continues to expand. Argentina Retail Sales Index Nov. 2021: 157.5% y/y The index that tracks nominal sales at Buenos Aires’ largest shopping centers increased 157.5% y/y in November after rising 443.5% in the previous month. South Korea Industrial Production Dec. 2021: South Korea Retail Sales Dec. 2021: Malaysia Foreign Trade Dec. 2021: » VIEW MORE ECONOMIC INDICATORS |