| Today's Economy
Economic Roundup: The Fed Sticks to Script with Second Rate Cut As expected, the FOMC announced an additional 25-basis point rate cut. Europe Daily Briefing: Cuts for the Brits The Bank of England has cut interest rates to 4.75%. LatAm Daily Briefing: Chile’s Economic Fluctuation The recent pattern of inconsistent quarterly growth has stymied attempts to make accurate forecasts. Germany's Political Upheaval The ruling coalition's collapse triggers economic uncertainty as early elections loom. » VIEW MORE TODAY'S ECONOMY
Commentary
Is the Euro Zone's Unemployment Rate Unsustainably Low? A record-low unemployment rate mostly reflects synchronized labour markets around the euro zone. U.S. Election Recap Trump, Senate Republicans win big and the House has yet to be determined. Trump Take Two The former U.S. president's reelection and the likely Republican sweep of the Senate and House will result in meaningful changes to economic policy and, thus, the economic outlook. Europe Braces for Impact of U.S. Elections A second Trump presidency will weigh on Europe's economic growth. » VIEW MORE COMMENTARY
Today's Economic Indicators
Sweden
Monetary Policy
Nov. 2024: 2.75%
Sweden’s Riksbank went ahead with a larger-than-expected rate cut at its November 7 meeting. Germany
Industrial Production
Sep. 2024: -2.5% m/m
Industrial production dropped 2.5% in September compared with the previous month. Norway
Monetary Policy
Nov. 2024: 4.5%
The Norges Bank kept its policy rate at 4.5% during its November 7 meeting. Euro Zone
Retail Sales
Sep. 2024: 0.5% m/m
The euro zone’s retail sales rose 0.5% month over month in September, which followed a large upward revision to August’s performance from 0.2% to 1.1%. Spain
Industrial Production
Sep. 2024: 0.5% m/m
Spain’s industrial production expanded 0.5% month over month in September in seasonally adjusted and calendar-adjusted terms. Ireland
Consumer Price Index
Oct. 2024: 0.7% y/y
Ireland’s consumer price inflation held steady at 0.7% in October, marking two consecutive months that headline inflation has dipped below 1%. Mexico
Consumer Price Index
Oct. 2024: 4.76% y/y
Annual inflation rebounded in October as volatile prices were affected by seasonal shortages and weather conditions, interrupting two months of decline. United Kingdom
Monetary Policy and Minutes
Nov. 2024: 4.75%
At the November meeting, the Bank of England lowered the policy rate 25 basis points to 4.75%, in line with our baseline, the consensus, and financial market expectations. United States
Jobless Claims
November 02: 221,000
In the week ended November 2, U.S. initial claims for unemployment insurance came in low again. United States
Productivity and Costs
2024Q3: 2.2%, q/q, SAAR
U.S. labor productivity increased 2.2% annualized in the third quarter, according to the Bureau of Labor Statistics’ preliminary estimate. United States
Bankruptcy Filings
2024Q3: 14.9% y/y
Consumer finances remain strong, but with pockets of weakness that are pushing up bankruptcy filings. United States
Wholesale Trade (MWTR)
Sep. 2024: -0.2% m/m
In September, wholesale inventories fell 0.2% after a 0.2% increase in August. United States
St. Louis Fed Financial Stress Index
November 01: -0.31
The St. United States
MBA Delinquency Rates
2024Q3: 3.92%
Mortgage delinquency rates declined for the first time in four quarters, according to the Mortgage Bankers Association. United States
NAR Metro Prices
2024Q3: 3.1% y/y
According to the National Association of Realtors, the median price of an existing single-family home climbed 3.1% from a year ago. United States
Natural Gas Storage Report
November 01: 69 bil cubic feet
Last week’s rise in natural gas stocks was slightly higher than analysts predicted, so this report could weigh on prices somewhat. Argentina
Industrial Production - Advance
Sep. 2024: -6.1% y/y
Industrial output shrank by 6.1% in September compared with the previous year, following a 6.8% decline in August. United States
FOMC Monetary Policy
Nov. 2024: 4.50% to 4.75%
Following September’s half-point cut, the rate-setting Federal Open Market Committee lowered the federal funds rate by a further 25 basis points. United States
Consumer Credit (G19)
Sep. 2024: $6.0 bil
The stock of consumer credit outstanding expanded by $6 billion in September, well short of consensus expectations for a $14.5 billion gain. Malaysia
Industrial Production
Sep. 2024:
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