| Today's Economy
Europe Daily Briefing: France's GDP Numbers Are Nothing to Fret Over A downward revision was always a possibility after the dismal March production figures; Q2 will be better. Looking Better for Q2 U.S. GDP We are now tracking 3.4% at an annualized rate. New U.S. Bank Rules Well Timed for Munis Classifying munis as HQLA will increase muni demand just when issuers need it most. U.S. Q1 GDP Revised Down, but Forecast Still Points Up Revisions to intellectual property investment suggest productivity growth could eventually improve. » VIEW MORE TODAY'S ECONOMY
Commentary
Mexico’s Election: The Race for the Presidency The country will vote for either continuation or change in politics and economics. No Paradox in U.S. Manufacturing's Productivity Funk There are good reasons for the slowdown. U.S. Chartbook: Economy Is on Track, Never Mind the Noise The Fed will tolerate a modest and temporary overshoot of its 2% inflation target. U.S. Weekly Highlights and Preview, May 25, 2018 Will April showers bring May flowers for the labor market? » VIEW MORE COMMENTARY
Today's Economic Indicators
Japan
Consumer Confidence
May. 2018: 43.8
Japanese consumers perked up somewhat in May, with the consumer confidence index edging up to 43.8 from 43.6 in the prior month. France
GDP
2018Q1: 0.2%
As we feared, first quarter GDP growth in France was revised down to only 0.2% q/q, from an initial estimate of 0.3%, slowing sharply from a 0.7% gain in the fourth quarter. France
Household Consumption Survey
Apr. 2018: -1.5%
French household consumption declined by 1.5% m/m in April, following a 0.2% rise in March, undershooting both the consensus and our expectations. Germany
Retail Sales
Apr. 2018: 2.3%
German retail sales recovered at the start of the second quarter. Spain
Retail Sales
Apr. 2018: -0.3%
Retail sales disappointed in April. Germany
Unemployment
May. 2018: 5.2%
Germany’s seasonally adjusted unemployment rate fell to a record low of 5.2% in May from 5.3% in the previous month. Euro Zone
Business and Consumer Sentiment
May. 2018: 112.5
The euro zone's economic confidence indicator extended its slide in May proving April’s stabilization short-lived. United States
MBA Mortgage Applications Survey
May 25: -2.9%
Mortgage applications have maintained their descent, even as mortgage rates decreased. Brazil
GDP
2018Q1: 1.2%
Brazil’s economy moderated in the first quarter, additionally affected by the seasonality of Easter. United States
ADP National Employment Report
May. 2018: 178,000
The labor market is strong but slowing as the current expansion reaches historic lengths. United States
Advance Wholesale and Retail Inventories
Apr. 2018: 0.0%
Wholesalers are still taking a breather, but retail inventories are bouncing back. United States
International Trade in Goods - Advanced
Apr. 2018: -$68.2 bil
The advance goods deficit narrowed in April, but the decline was small and the details largely negative. Canada
Balance of International Payments
2018Q1: -C$19.5 bil
Canada's seasonally adjusted current account deficit widened by C$3 billion in the first quarter to C$19.5 billion. Canada
Industrial Product and Raw Materials Price Indexes
Apr. 2018: 0.5%
The Industrial Product Price Index increased 0.5% in April, primarily because of higher prices for energy and petroleum products. United States
GDP
2018Q1: 2.2%
U.S. Canada
Monetary Policy
May. 2018: 1.25%
Monetary policymakers are embracing the wait-and-see approach. United States
Beige Book
May. 2018:
The Federal Reserve’s May Beige Book, covering economic activity from mid-April through early May, indicates that economic activity expanded moderately across districts over the reporting period, with a few changes in the pace of growth. United States
Agricultural Prices
Apr. 2018: -2.2%
Agricultural prices decreased 2.2% in April because of a retreat in the livestock production index. South Korea
Retail Sales
Apr. 2018:
United Kingdom
Consumer Confidence
May. 2018:
Japan
Industrial Production
Apr. 2018:
China
Manufacturing PMI
May. 2018:
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