| Today's Economy
Economic Roundup: Connecting the Dots The dot plot shows the fed funds rate at 0.625% at the end of 2023, compared with 0.1% in March. LatAm Daily Briefing: Uneven Progress on Vaccinations Disparity is on full display. Capital Market View: Inflation and Rates Not Sinking Stocks Transitory inflation is keeping rates low, and this creates upside risks for equities. Europe Daily Briefing: U.K. Inflation Heats Up The Bank of England likely won't make any major changes to policy until 2022. » VIEW MORE TODAY'S ECONOMY
Commentary
This Week in the COVID-19 Recovery Inflation expectations have picked up from their pandemic lows, but this is a feature and not a bug. U.S. Federal Outlook: The Rise and Fall of Pandemic Relief Support from fiscal policy out of Washington has been highly supportive to households and businesses but will start to fade in the coming months. Global Vaccine Tracker: G-7 Leaders Step Up The economic benefits of a globally inoculated population are enormous. Africa Outlook: A Challenging Road Ahead A slow vaccine rollout will cause problems for the continent's recovery. » VIEW MORE COMMENTARY
Today's Economic Indicators
China
Fixed Asset Investment
May. 2021: 15.4% y/y
China's fixed asset investment increased 15.4% year to date in May, cooling from the 19.9% rise in the prior month. China
Industrial Production
May. 2021: 8.8 % y/y
Industrial production increased by 8.8% y/y in May, below expectations of just above 9%. China
Retail Sales
May. 2021: 12.4% y/y
Retail sales in China accelerated in May, as the seasonally adjusted monthly growth improved to 0.81% from 0.25% in the prior month. United Kingdom
Consumer Price Index
May. 2021: 2.1% y/y
U.K. prices continued to climb in May, with the CPI rising to 2.1% y/y from 1.5% y/y in April. United States
MBA Mortgage Applications Survey
June 11: 4.2%
Mortgage applications grew 4.2% in the week of June 11 following three weeks of consecutive declines. United States
New Residential Construction (C20)
May. 2021: 1.572 mil, SAAR
U.S. residential construction data for May came in a touch weaker than expected. United States
Import and Export Prices
May. 2021: 1.1% m/m
The U.S. continues to import inflation, but this should prove transitory, as higher energy prices and supply chain issues are boosting import prices. Canada
Consumer Price Index
May. 2021: 3.6%
The normalization of prices hit hard during the pandemic, and combined with base effects, it pushed the rate of inflation higher in May. Canada
Wholesale Trade
Apr. 2021: 0.4%
Wholesale sales edged up by 0.4% in April, following a 2.8% increase in March. United States
Oil Inventories
June 11: 466.7 mil barrels
Another large oil inventory decline should help support already-high prices. Singapore
Foreign Trade
May. 2021:
United States
FOMC Monetary Policy
Jun. 2021: 0% to 0.25%
The Federal Reserve didn’t alter its description of U.S. inflation, as it still views the acceleration as transitory, but there was a big shift in the dot plot. Argentina
Consumer Price Index
May. 2021: 48.8% y/y
The statistics office’s national consumer price index increased 3.3% in May, up from 1.5% a year earlier. Brazil
Monetary Policy
Jun. 2021:
New Zealand
GDP
2021Q1:
Australia
Employment Situation
May. 2021:
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