| Today's Economy
Hurricane Harvey’s U.S. Cost: An Update Initial projections have been revised lower as more precise damage figures come in. Sentiment Is Driving Up the ISM Survey The rising index's implications for U.S. manufacturing growth may be less than they appear. A Modest Gain for U.S. Construction Spending New data shifted the mix of growth in Q3, but GDP is still tracking 2.8%. Economic Briefing: On the Sunny Side Japan's Tankan survey hit a decade high in Q3; South Korea's trade surplus was a record in September. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Chartbook: Harvey and Irma Make Waves Fed Chair Janet Yellen appeared comfortable pushing forward with gradual rate hikes. U.S. Weekly Highlights and Preview, September 29, 2017 Hurricanes likely hurt the labor market in September. Europe Weekly Highlights and Preview, 29 September, 2017 Spain’s central government was doing all in its power to prevent the Catalonia independence vote. Japan Outlook: Another Vote on Abenomics Despite a cyclical recovery in 2017, the general election and North Korea heighten downside risks. » VIEW MORE COMMENTARY
Today's Economic Indicators
United States
Semiconductor Billings
Aug. 2017: 4.0%
Global semiconductor sales continue to reach new highs. Germany
Lending by Banks
Aug. 2017: 4.2%
German bank lending to the private sector rose further in August. Italy
Unemployment
Aug. 2017: 11.2%
Italy's unemployment rate dropped to 11.2% in August from 11.3% in July. Russian Federation
GDP
2017Q2: 2.5%
Russian GDP grew 2.5% year over year in the second quarter of 2017, according to Rosstat, with the economy finishing the first half of the year at 1.5% year over year. Euro Zone
Unemployment
Aug. 2017: 9.1%
Against expectations of a further drop, the euro zone’s unemployment rate remained steady at 9.1% in August, its lowest reading since February 2009. Peru
Consumer Price Index
Sep. 2017: 2.9%
The consumer price index for the Lima metropolitan area fell 0.02% from August to September, bringing inflation on a year-ago basis to 2.9%, a hair below the central bank’s 3% target ceiling. Brazil
Foreign Trade
Sep. 2017: US$5.18 bil
Brazil’s trade surplus slid for a fourth consecutive month in September, but remained fairly large. United States
Construction Spending (C30)
Aug. 2017: 0.5%
Total construction spending increased 0.5% in August , outperforming the 0.2% consensus estimate and falling just below our forecast of a 0.6% increase. World
Moody's Analytics Survey of Business Confidence
September 29: 29.6
Global business confidence shows no sign of wavering, consistent with a global economy that is expanding just above its potential. United States
ISM Manufacturing Index
Sep. 2017: 60.8
U.S. manufacturing conditions are improving as the global economy has strengthened and the U.S. dollar has depreciated. Thailand
Industrial Production
Aug. 2017: 3.7%
Industrial production in Thailand grew 3.7% y/y in August, following a 3.4% gain in July (after revisions). United Kingdom
Consumer Confidence
Sep. 2017:
Australia
Monetary Policy
Oct. 2017:
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