| Today's Economy
U.S. Quits Rate Has Room to Rise Confidence in the labor market is strong and more quits would be a good sign for wage growth. Inventories Now Set to Add to Q2 U.S. GDP We are raising our second quarter tracking estimate from 2.3% to 2.5%. Examining the North Korea Risk The economic implications of North Korea's actions have so far been minimal. Economic Briefing: Chinese Inflation Cools a Whisker China's Q3 GDP is tracking at 6.4% y/y, reflecting the handful of disappointing July datapoints. » VIEW MORE TODAY'S ECONOMY
Commentary
Euro Zone Labour Market May Hit a Wall Joblessness is declining, but structural problems will hold back further gains at some point. New Zealand Outlook: The Quiet Achiever Consumption will remain above trend thanks to the healthy labour market; wages are the laggard. U.S. Macro Outlook: What Could Go Wrong? Despite good prospects for the economy, political bedlam in Washington means uncertainty in the near term. U.S. Chartbook: Whither Wage Growth? July employment paves the way for the Fed to begin normalizing its balance sheet, but wage growth underwhelms. » VIEW MORE COMMENTARY
Today's Economic Indicators
Italy
Industrial Production
Jun. 2017: 1.1%
Italy’s industrial production expanded sharply in June, rising by 1.1% from May, well above our expectation of a 0.3% gain. Brazil
Consumer Price Index
Jul. 2017: 2.71%
Brazil’s inflation plunged further from the 4.5% central target in July as the economy underperformed. United States
MBA Mortgage Applications Survey
August 04: 3.0%
Mortgage applications increased last week, as most rates declined. Canada
Housing Starts
Jul. 2017: 222 ths
New construction ramped up in July. Canada
Building Permits
Jun. 2017: 2.5%
The value of Canadian building permits rose 2.5% to C$8.1 billion in June, causing year-ago growth to rise to 22.5%. United States
Productivity and Costs
2017Q2: 0.9%
Nonfarm productivity rose 0.9% at an annualized rate in the second quarter. Mexico
Consumer Price Index
Jul. 2017: 6.44%
Annual inflation keeps climbing well above the upper limit of the official target as some prices adjust upward. United States
Wholesale Trade (MWTR)
Jun. 2017: 0.7%
Stockpile growth closed the second quarter on a high note, but sales were not strong enough to drive down the inventory turnover rate. United States
Oil Inventories
August 04: 475.4 mil barrels
A much larger than expected decline in crude oil inventories will put upward pressure on prices. Philippines
Industrial Production
Jun. 2017:
New Zealand
Monetary Policy
Aug. 2017:
Japan
Machinery Orders
Jun. 2017:
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