| Today's Economy
No Sign of U.K. Wage Growth Yet Nominal wages failed again to gain pace in Q3, and the outlook is bleak. Bashing the U.S. Yield Curve The flattened curve may not be telling us as much as it used to. Don't Blame Amazon for the Lack of U.S. Inflation If inflation falls short of the Fed's target over the next few years, blame core services. Few Surprises in October U.S. CPI A December rate hike is nearly a slam dunk. » VIEW MORE TODAY'S ECONOMY
Commentary
Tax Reform Wild Card We assess the impact on the economy of both the U.S. House and Senate proposals. U.S. Regional Outlook: Even More Help Wanted The Amazon HQ2 sweepstakes highlights the power of logistics and tech. Forecaster's Mailbag: Singles' Day and China's Consumption Patterns The retail phenomenon doesn't represent a shift to a higher marginal propensity to spend. U.S. Chartbook: Labor Lifts, Lending Shifts Lenders’ standards for businesses are loosening as the labor market increasingly turns in workers’ favor. » VIEW MORE COMMENTARY
Today's Economic Indicators
France
Consumer Price Index
Oct. 2017: 1.2%
France's annual harmonised inflation accelerated to 1.2% in October from 1.1% in September. United Kingdom
Unemployment
Oct. 2017: 4.3%
As expected, U.K.’s unemployment rate remained steady at 4.3% in the September quarter, its lowest since 1975. Euro Zone
External Trade
Sep. 2017: €26.4 bil
The euro zone’s external trade surplus expanded in September to €26.4 billion, after it decreased to a revised €15.5 billion in August. United States
MBA Mortgage Applications Survey
November 10: 3.1%
Mortgages were on the upswing last week after holding steady in the prior week. Peru
Unemployment
Oct. 2017: 6.2%
The jobless rate in the Lima metropolitan area ticked down in the three months ended in October, shaving 20 basis points to 6.2%. Canada
New Motor Vehicle Sales
Sep. 2017: 7.6%
The number of new motor vehicles sold rose by 1.8% from August to 190,581 in September, with the increase in sales of new trucks more than making up for the decline in sales of new passenger cars. United States
NY Empire State Manufacturing Survey
Nov. 2017: 19.4
New York manufacturers continue to grow, according to the latest Empire State Manufacturing Survey. United States
Retail Sales
Oct. 2017: 0.2%
Retail sales growth slowed dramatically in October, at least in part as payback for the huge gain in September. United States
Consumer Price Index
Oct. 2017: 0.1%
Trend growth in U.S. consumer prices hasn’t been overly impressive recently, but the immediate implications for monetary policy are not significant, as the Federal Reserve is looking through the recent softness. United States
Business Inventories (MTIS)
Sep. 2017: 0.0%
Hurricane Irma made its mark on September stockpile growth, but in all, business inventories still contributed positively to third quarter output. United States
Oil Inventories
November 10: 459.0 mil barrels
Crude oil inventories increased by 1.9 million barrels in the week ended November 10; they were expected to have declined by as much. Colombia
GDP
2017Q3: 2.0%
The Colombian economy continued to expand at below capacity in the third quarter amid a contraction in oil and mining and manufacturing output. United States
Treasury International Capital Flows
Sep. 2017: $ 80.9 bil
Net long-term inflows were strong for a second successive month in September. Australia
Employment Situation
Oct. 2017:
Philippines
GDP
2017Q3:
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