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Economic Roundup: Goods Producers Facing Headwinds The latest data on U.S. construction spending and the ISM Manufacturing Survey were soft. LatAm Daily Briefing: Mexico’s First Female President Faces Economic, Security Challenges After her historic win, Claudia Sheinbaum must tackle a variety of critical issues. ECB Preview: Cuts Will Start, but Will They Continue? Though the newest data are not supportive of the move, we expect the central bank to cut interest rates on Thursday. Mexico Elects Its First Female President Claudia Sheinbaum will confront immediate challenges at the outset of her administration, not only in terms of the economy but also in politics and social issues. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Chartbook: Inflation Holds Steady The Fed’s preferred measure of inflation advanced 0.2% in April, keeping the annual rate unchanged from the previous month and still above target. U.S. Weekly Highlights and Preview, May 31, 2024 The May employment report is likely to show a second straight month of moderating job growth after an impressive first quarter. Europe Weekly Highlights and Preview, 31 May, 2024 A 25-basis point interest rate cut is widely expected from the ECB next week. Asia-Pacific Weekly Highlights and Preview, 31 May, 2024 Australia's March-quarter GDP likely grew just 0.2% from the December quarter. » VIEW MORE COMMENTARY
Today's Economic Indicators
Indonesia
Consumer Price Index
May. 2024: 2.8% y/y
Indonesia’s headline inflation cooled a little in May to 2.8% y/y from April’s 3% print. Austria
GDP
2024Q1: 0.2% q/q
Austrian GDP growth ticked slightly upwards to 0.2% quarter on quarter. Chile
Monthly Economic Activity Indicator
Apr. 2024: 3.5% y/y
Economic activity recovered in April thanks to the seasonality of the Easter week, which added a few more working days in the month. Peru
Consumer Price Index
May. 2024: 2% y/y
The consumer price index in metropolitan Lima—a barometer of price pressures at the national level in Peru—hit the central bank’s target on the nose in May. United States
Construction Spending (C30)
Apr. 2024: -0.1% m/m
Construction spending in the U.S. was estimated at a seasonally adjusted annualized rate of $2.099 trillion in April. World
Moody's Analytics Survey of Business Confidence
May 31: 15.6
Global business sentiment posted a solid gain in the last week of May. United States
ISM Manufacturing Index
May. 2024: 48.7
In line with our expectations, U.S. manufacturing activity contracted again in May. South Korea
Consumer Price Index
May. 2024:
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