Economy.com Daily Update: January 8, 2020

Today's Economy

Trump's comments suggest tensions with Iran could ease but remain a risk.

Damage to stores and stoppages along transport routes contributed to scarcity of consumer goods.

German factory orders fell in November, and foreign demand slumped.

Poor infrastructure is exacerbating the damage and disruption.

Commentary

After a year of stagnation in 2019, the economy will see mild growth.

The new year will bring new challenges, but the economy has entered on a solid footing.

The president's re-election chances improved slightly over the last month.

The focus this week will be on the December employment report.

Today's Economic Indicators

Japan
Consumer Confidence
Dec. 2019: 39.1
Japan's consumer confidence continued to defy predictions of a deterioration in consumer sentiment, as the aggregate confidence index improved to 39.1 in December, the highest reading in the last six months and up from 38.7 in November.

Euro Zone
Business and Consumer Sentiment
Dec. 2019: 101.5
Euro zone business and consumer sentiment increased slightly to 101.5 in December from 101.2 in November as the headwinds facing the euro zone economies slowly diminished.

Chile
Consumer Price Index
Dec. 2019: 3.0%
Annual inflation in Chile continued to increase in December as prices remained under some pressure.

United States
MBA Mortgage Applications Survey
January 03: 13.5%
Mortgage applications rose 13.5% over the week of January 3, with both the refinance index and purchase index moving up.

United States
ADP National Employment Report
Dec. 2019: 202,000
The labor market ended 2019 on a high note.

United States
Oil Inventories
January 03: 431.1 mil barrels
An unexpected increase in crude oil inventories will be a weight on prices.

United States
California Manufacturing Survey
2020Q1:

China
Foreign Trade
Dec. 2019:

Argentina
Industrial Production - Advance
Nov. 2019: -4.5%
Argentina's industrial output contracted 4.5% y/y in November, not seasonally adjusted, after shrinking 2% y/y in the previous month.

United States
Consumer Credit (G19)
Nov. 2019: $12.5 bil
Consumer credit growth slowed in November, rising $12.5 billion.

Australia
Foreign Trade
Nov. 2019:

China
Consumer Price Index
Dec. 2019:

China
Producer Price Index
Dec. 2019: