| Today's Economy
Economic Roundup: The Aftermath of Pulled-Forward Demand Tariff front-loading is over, causing U.S. retail sales to slide in May. Global Model Enhancements: Country-Specific Tariff Levers We have added country-specific tariff rates to the global model. Europe Daily Briefing: Mixed Messages European sentiment surges in June, but geopolitical risks have risen in the Middle East. Asia-Pacific Daily Briefing: Bank of Japan Stands Pat The bank will slow the pace of bond purchase reductions. » VIEW MORE TODAY'S ECONOMY
Commentary
Composition of Inflation Has Been Painful for U.S. Consumers They are shifting their spending in response. AI Is Beating the Odds AI is the one area defying the global slowdown in cross-border investment. Canada Risk Matrix: Housing Markets Turn More Pessimistic Early signs of strain in Canada's housing market could exacerbate a growth downturn. Trade War Tracker: Framework of a Plan Terms were agreed to in London as part of a “framework” for trade moving forward between the U.S. and China. » VIEW MORE COMMENTARY
Today's Economic Indicators
Hong Kong SAR (China)
Employment Situation
May. 2025: 3.5%
In the three months to May, Hong Kong's seasonally adjusted unemployment rate averaged 3.5%, a 0.1-percentage point increase from the prior month’s print. Canada
International Transactions in Securities
Apr. 2025: -C$9.4 bil
In April, Canadian investors added C$4.1 billion in foreign securities to their portfolios while foreign investors reduced their holdings of Canadian securities by C$9.4 billion. United States
Import and Export Prices
May. 2025: 0.0 % m/m
U.S. import prices were unchanged in May from the prior month, as lower fuel prices were offset by growth in nonfuel prices. United States
Retail Sales
May. 2025: -0.9%, m/m
Retail sales retreated in May, but this is simply the end of all the forward buying that occurred early this spring in anticipation of the tariffs, and nothing more. United States
Industrial Production
May. 2025: -0.2% m/m
In May, U.S. industrial production ticked down 0.2%. United States
Business Inventories (MTIS)
Apr. 2025: 0.0% m/m
Business inventories were unchanged at 0% in April, on par with the consensus forecast of 0%. United States
NAHB Housing Market Index
Jun. 2025: 32
Homebuilder confidence soured in June, with the National Association of Home Builders’ Housing Market Index falling 2 points to 32. Chile
Monetary Policy
Jun. 2025:
Japan
Machinery Orders
Apr. 2025:
Japan
Foreign Trade
May. 2025:
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