| Today's Economy
Economic Roundup: A Little Less Uncertainty on Main Street Uncertainty fell to its lowest since December, as the administration has pulled back on some tariffs. U.S. High-Frequency GDP Update: Can We Call it a Comeback? We estimate 3% growth in the second quarter, but policy-induced distortions mean a nuanced reading is needed. Europe Daily Briefing: No Letter for Europe A wave of tariff letters went out from the U.S., but the euro zone is racing to get a deal. LatAm Daily Briefing: A Positive First Half Despite recent strength, the region still faces an uncertain outlook. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Inflation Tracker: Waiting and Seeing While monthly price fluctuations are less important to policy decisions today, this will soon change. U.S. Chartbook: Under the Hood June’s employment report beat expectations, but underlying details point to continued softening in the labor market. U.K. Chartbook: Exports and Employment Growth Under Strain The economy is looking weaker as 2025 progresses. Europe Weekly Highlights and Preview, 4 July 2025 Euro zone retail likely weakened in May after Easter's support in April. » VIEW MORE COMMENTARY
Today's Economic Indicators
Australia
Monetary Policy
Jul. 2025: 3.85%
The Reserve Bank of Australia held the cash rate at 3.85% in July, resisting near-unanimous market calls for a third successive cut. Netherlands
Consumer Price Index
Jun. 2025: 3.1% y/y
Dutch headline inflation fell to 3.1% y/y in June from 3.3% in May, marking the lowest rate in a year. Taiwan (China)
Consumer Price Index
Jun. 2025: 1.4% y/y
Taiwan’s consumer price inflation slowed to 1.4% y/y in June, matching our forecast and undercutting the consensus of 1.6%. Taiwan (China)
Foreign Trade
Jun. 2025: US$12.1 bil
Taiwan’s trade surplus fell slightly to $12.1 billion in June from $12.6 billion in May. United States
NFIB Small Business Survey
Jun. 2025: 98.6
As expected, the NFIB’s Small Business Optimism Index decreased slightly in June. Brazil
Retail Sales Index
May. 2025: 2.1% y/y
Brazil’s retail consumption advanced further in May, although at a rate more consistent with an economy stabilizing at around potential capacity. Chile
Consumer Price Index
Jun. 2025: 4.12% y/y
Annual inflation declined in June, although it stayed above the 4% target, reflecting demand pressures on key prices. Colombia
Consumer Price Index
Jun. 2025: 4.8% y/y
Colombia’s consumer price index increased 0.1% month on month in June, compared with a 0.32% increase a year earlier. Canada
Purchasing Managers' Index
Jun. 2025: 53.2
In June, the Ivey Purchasing Managers’ Index moved above the neutral threshold, edging up from 48.9 to 53.2. United States
Monthly GDP
May. 2025: 0.5% m/m
U.S. real GDP increased again in May. United States
Consumer Credit (G19)
May. 2025: $11.5 bil
U.S. consumer credit outstanding increased $11.5 billion in May, in line with expectations for an $11 billion gain. Argentina
Industrial Production - Advance
May. 2025: 5.8% y/y
Argentina’s manufacturing recovery advanced in May amid an improved macroeconomic environment. Australia
Datium Insights - Moody’s Analytics Used Vehicle Price Index
Jun. 2025: 6.1% y/y
China
Consumer Price Index
Jun. 2025:
China
Producer Price Index
Jun. 2025:
New Zealand
Monetary Policy
Jul. 2025:
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