| Today's Economy
LatAm Daily Briefing: Monetary Policy Defeats Inflation in Brazil The central bank’s restrictive actions help keep inflation under control. Europe Daily Briefing: Flash PMI Points to Slower June Growth Manufacturing output and new orders contracted in June. Asia-Pacific Daily Briefing: Singapore's Surging Inflation The Philippines hikes rates; Indonesia decides to wait. Economic Roundup: Not the Holiday We Need Savings over the three-month tax holiday would amount to less than $30 for the average driver. » VIEW MORE TODAY'S ECONOMY
Commentary
Russia-Ukraine Tracker: Four Months On The latest estimates are that Russia controls more than half of the Donetsk province. Euro Zone Monetary Policy Outlook: Multiple Doubled Hikes Coming Another ECB inflation forecast miss will lead to multiple 50-basis point hikes. U.S. Regional Winners Extend Their Lead May was a strong month for much of the nation, but employment growth stalled in smaller states. U.S. Chartbook: Breaking Inflation High oil prices, the downturn in asset markets, soaring real estate prices, and persisting inflation are weighing on the psyche of consumers. » VIEW MORE COMMENTARY
Today's Economic Indicators
Singapore
Consumer Price Index
May. 2022: 5.6% y/y
Singapore’s May CPI maintained it’s eye-watering pace, surging to 5.6% y/y in May from April’s 5.4%. Indonesia
Monetary Policy
Jun. 2022: 3.50%
Bank Indonesia kept its seven-day reverse repurchase rate unchanged at 3.5% at its June meeting. Philippines
Monetary Policy
Jun. 2022: 2.5%
Bangko Sentral ng Pilipinas raised its overnight reverse repo rate by 25 basis points to 2.5% at its June meeting, marking an expected second rate hike in two months. Norway
Monetary Policy
Jun. 2022: 1.25%
Norway’s main policy rate was raised 50 basis points from .75% to 1.25%, effective June 24th, in a unanimous decision by policy makers on the Norges Bank’s Monetary Policy and Financial Stability Committee. Taiwan (China)
Industrial Production
May. 2022: 4.5%
Taiwan’s industrial production saw 4.5% year-on-year growth in May, compared to a revised 6.4% growth in April, hitting below our expectations. Mexico
Retail & Wholesale Sales
Apr. 2022: 4.6% y/y
Retail sales advanced in April, showing signs of recovery. United States
Current Account
2022Q1: -$291.4 bil
The U.S. current account deficit widened by $66.6 billion to $291.4 billion in the first quarter of this year. United States
Jobless Claims
June 18: 229,000
U.S. initial claims for unemployment insurance fell by 2,000 to 229,000 in the week ended June 18, which includes the payroll reference period. United States
St. Louis Fed Financial Stress Index
June 17: -1.59
Financial market stress eased in the latest period. United States
Natural Gas Storage Report
June 17: 74 bil cubic feet
Working gas in underground storage rose by 74 billion cubic feet during the week ended June 17. United States
Kansas City Fed Manufacturing Survey
Jun. 2022: 12
Manufacturing activity in the Tenth District slowed further in June but remained positive. Mexico
Monetary Policy
Jun. 2022: 7.75%
The Bank of Mexico increased the magnitude of its rate hike in June, as inflation remains resilient. Argentina
GDP
2022Q1: 6.0% y/y
Argentina's economy expanded 6% y/y in the first quarter, after 8.9% y/y in the previous quarter. Argentina
Employment Situation
2022Q1: 7.0% Unemployment
According to Indec’s labor market survey, the national urban unemployment rate averaged 7% in the first quarter, compared with 10.2% a year earlier (figures are not seasonally adjusted). United States
Oil Inventories
June 17:
Japan
Consumer Price Index
May. 2022:
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