| Today's Economy
Europe Daily Briefing: Euro Zone Labour Market Will Soften The unemployment rate rose to 8.1% in August, and the outlook isn't rosy. LatAm Daily Briefing: A Bleak Debt Picture Massive fiscal stimulus heightens longer-term risks in the region. Asia-Pacific Daily Briefing: South Korea's September Surge in Exports The sustainability of trade will be tested by renewed restrictions. Net High-Yield Downgrades Plunge The second quarter’s record-high 369 fell to the third-quarter tally that may be no greater than 25. » VIEW MORE TODAY'S ECONOMY
Commentary
Updated Costs of Western U.S. Wildfires We estimate $8.3 billion in property damage from fires in California, Oregon and Washington. Japan Outlook: Challenges Ahead for the New Prime Minister The unexpected resignation of Shinzo Abe marks a turning point with potential to steer macroeconomic policy in new directions. How Long Could a U.S. Recovery Take? Historical data imply a recovery to pre-pandemic employment would take two to nine years. U.S. Chartbook: Bleak Employment Indicators at Odds With Rosy Housing Data In a light calendar week of economic data, housing indicators shine bright. » VIEW MORE COMMENTARY
Today's Economic Indicators
Italy
Unemployment
Aug. 2020: 9.7%
Italy's economy added 83,000 jobs in August, building on July’s 85,000 increase. Euro Zone
Unemployment
Aug. 2020: 8.1%
The euro zone’s jobless rate edged up to 8.1% in August from an upwardly revised 8% in July, in line with our expectations. Chile
Monthly Economic Activity Indicator
Aug. 2020: -11.3%
Chile’s economic activity continued to recover in August as the reopening advanced, though the annual rate was still negative and the monthly rate moderated significantly. United States
Challenger Report
Sep. 2020: 118,804
Job cut announcements edged higher, rising from 115,762 in August to 118,804 in September. United States
Jobless Claims
September 26: 837,000
Weekly initial jobless claims declined in the week ended September 26 to 837,000, just slightly ahead of our forecast. United States
Personal Income
Aug. 2020: -2.7%
August was the first month in which critical sources of CARES Act income support expired or all but faded away. United States
PCE Deflator
Aug. 2020: 0.3%
Deflation fears continue to ease as the PCE deflator came in right at the Moody's Analytics forecast of 0.3% for August. United States
Personal Spending
Aug. 2020: 0.7%
Real consumer spending increased 0.7% in August, which comes on the heels of a 1.1% gain in July. Canada
Building Permits
Aug. 2020: 1.7%
The construction industry's two-track recovery continues as residential building permits push higher, while intentions for new nonresidential construction remain depressed. Peru
Consumer Price Index
Sep. 2020: 1.8%
Inflation in Peru remains subdued despite a greater than expected jump in consumer prices in September. United States
ISM Manufacturing Index
Sep. 2020: 55.4
Though the ISM manufacturing survey disappointed in September, it remains comfortably above its neutral threshold of 50. United States
Construction Spending (C30)
Aug. 2020: 1.4%
U.S. construction put in place surprised to the upside in August. United States
St. Louis Fed Financial Stress Index
September 25: 0.00
The St. United States
Natural Gas Storage Report
September 25: 76 bil cubic feet
The rise in natural gas inventories was a hair below analyst predictions, which will put minimal upward pressure on prices. Japan
Employment Situation
Aug. 2020:
Singapore
GDP - Advanced
2020Q3:
Australia
Retail Sales
Aug. 2020:
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