| Today's Economy
One Fed Meeting, Two Interpretations Markets saw the FOMC meeting as dovish, but we lean hawkish. Europe Daily Briefing: The Next BoE Rate Hike Should Come in May We still think that the MPC has enough reasons to stand pat. Political Crisis in Peru Looms Larger The president's resignation will dampen consumer and business confidence. Asia-Pacific Daily Briefing: Australia's Solid Labour Market The Phillips curve has flattened, so wage growth is less responsive to the low unemployment rate. » VIEW MORE TODAY'S ECONOMY
Commentary
Latin America Economic Preview: 26-30 March Unemployment rebounds in Brazil and Chile, and declines in Mexico. BoE Preview: The Central Bank Has Excuses to Stand Pat Despite January's strong U.K. labour market report, all other economic indicators have been weak lately. Down the Rabbit Hole An all-out trade war could cost millions of jobs. U.S. Regional Outlook: Constraints Emerging The benefits of growth in this late stage of the business cycle are accruing to most areas. » VIEW MORE COMMENTARY
Today's Economic Indicators
United Kingdom
Retail Sales
Feb. 2018: 1.5%
U.K. retail sales rose by only 1.5% y/y in February, the same increase as in January and below our expectations of 2.2%. United States
Jobless Claims
March 17: 229,000
The labor market engine is running smoothly. United States
State Personal Income
2017Q4: 1.1%
State personal income advanced by a meager 3.1% in 2017. United States
FHFA Purchase-Only House Price Index
Jan. 2018: 7.3%
The Federal Housing Finance Agency Purchase-Only House Price Index jumped up 7.3% in January on a year-ago basis, which is much faster than the previous month's increase. United Kingdom
Monetary Policy and Minutes
Mar. 2018: 0.5%
As expected, the Bank of England stood pat at its March meeting and left the bank rate unchanged at 0.5%. United States
Conference Board Leading Indicators
Feb. 2018: 0.6%
The outlook for the U.S. economy continues to brighten. United States
St. Louis Fed Financial Stress Index
March 16: -1.12
Financial stress conditions declined for the first time in three weeks, despite a down week on Wall Street. United States
Natural Gas Storage Report
March 16: -86 bil cubic feet
The drawdown in natural gas inventories was roughly in line with industry analyst expectations, which will have little effect on gas prices. United States
Kansas City Fed Manufacturing Survey
Mar. 2018: 17
Manufacturing activity is expanding at a solid pace in the Kansas City Fed's region. Argentina
Retail Sales Index
Jan. 2018: 21.0%
The index that tracks nominal sales at Buenos Aires’ largest shopping centers increased 21% y/y in January, after 20.2% in the previous month. Japan
Consumer Price Index
Feb. 2018:
Uruguay
GDP
2017Q4:
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