| Today's Economy
Economic Roundup: New Tariffs Cast Shadow on Solar Panel Imports The U.S. imposed levies as high as 3,521% on units from select Asian nations. LatAm Daily Briefing: IMF Downgrades Growth Projections Amid the trade war, the multilateral organization now sees the region growing 1.9% in 2025, down from its previous projection of 2.5%. Europe Daily Briefing: Trade War Gloom Euro zone consumer confidence is in a predictable Liberation Day slump. Economic Roundup: Market Pain Deepens U.S. equity markets fell sharply Monday, while long-term interest rates rose and the dollar weakened. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Inflation Tracker: Expectations and Goods Prices Turn Upward U.S. CPI and PCE inflation will slow in the first half of 2025, benefiting from base effects, before accelerating again as tariffs increase. Euro Zone Inflation Tracker: Heading Lower Given the significant presence of base effects in the March release, we expect a rebound in the inflation rate as those effects unwind in April. U.K. Risk Matrix: Struggling to Catch a Break Along with almost every other country in the world, the U.K. now finds itself swept up in U.S. President Trump’s trade war. U.S. Outlook: Trade War Scenarios The extraordinary uncertainty and even chaos created by the global trade war for businesses, consumers and investors is already weighing on spending, hiring and investment decisions. » VIEW MORE COMMENTARY
Today's Economic Indicators
Hong Kong SAR (China)
Employment Situation
Mar. 2025: 3.2%
In the three months to March, Hong Kong's seasonally adjusted unemployment rate averaged 3.2%, unchanged from the prior month’s print. Canada
Industrial Product and Raw Materials Price Indexes
Mar. 2025:
United States
Philadelphia Fed Nonmanufacturing Survey
Apr. 2025: -26.7
The sharp contraction in service-sector activity continued in April, according to the latest Nonmanufacturing Business Outlook Survey from the Philly Fed. United States
Richmond Fed Manufacturing Survey
Apr. 2025: -13
In April, Fifth District manufacturing activity weakened again. Argentina
Economic Activity Indicator
Feb. 2025: 5.7% y/y
The statistics office’s monthly economic output index (a proxy for GDP) increased 5.7% year on year in February after 6.7% in the previous month. South Korea
Consumer Sentiment Index
Apr. 2025:
China
Monetary Policy
Apr. 2025:
China's panel banks left their one- and five-year loan prime rates at 3.1% and 3.6%, respectively, in April. » VIEW MORE ECONOMIC INDICATORS | 
