| Today's Economy
Economic Roundup: Uncertainty Trumps Partisan Conflict Policy uncertainty appears to affect the economy more that partisan squabbling. Risks to U.S. Homebuilding in 2017 Mortgage rates could cause construction to get off to a slow start. Economic Briefing: Bank of Japan Stays on Hold Prospect of improving inflation environment will leave the BoJ on the sidelines in the coming months. China’s Housing Market Stabilises Tighter lending requirements have slowed price growth in Tier 1 cities. » VIEW MORE TODAY'S ECONOMY
Commentary
Netherlands Outlook: Merry and Bright The Dutch expansion will thrive thanks to firm housing and exports. Reflecting on Key Economic Questions for 2016 We got some things right, some wrong. U.S. Macro Outlook: Trump Effects Economic growth should peak by mid-2018, when tax cutting and spending increases are in full swing. U.S. Chartbook: The Fed Acts The snail's pace of interest rate hikes fails to convey the tightening that has occurred. » VIEW MORE COMMENTARY
Today's Economic Indicators
Germany
Producer Price Index
Nov. 2016: 0.1%
Producer prices rose 0.1% y/y in November, following a 0.4% drop in the previous month. Euro Zone
Balance of Payments
Oct. 2016: €28.4 bil
The euro zone's current account surplus expanded to €28.4 billion in October, seasonally adjusted, from a revised €27.7 billion a month earlier. Germany
Ifo Business Climate Index
Dec. 2016: 111.0
The German Ifo Business Climate Index rose in December following a marginal decrease in the previous two months. Japan
Monetary Policy
Dec. 2016: ¥80 tril.
The yen's recent depreciation has caused the Bank of Japan to be more optimistic about short-term growth, despite persistently weak inflation expectations. Canada
Wholesale Trade
Oct. 2016: 1.1%
Wholesale sales rose 1.1% in October, offsetting most of September's 1.5% decline. Germany
House Price Index
Nov. 2016: 10.9%
New-home prices rose 10.9% y/y in November, following an 8.9% gain in the previous month. United States
State Personal Income
2016Q3: 1.1%
Solid earnings growth helped sustain solid, albeit unspectacular, gains in state personal income during the third quarter. Mexico
Retail & Wholesale Sales
Oct. 2016: 9.3%
Retail consumption advanced solidly in October, despite slow employment. United States
State and Local Government Tax Revenue
2016Q3: 1.4%
The third quarter’s 1.4% growth in state tax revenues was tepid relative to the post-recession average. United States
Moody’s Analytics Policy Uncertainty Index
December 16: 71.4
The trend in U.S. economic policy uncertainty appears to be stabilizing but remains elevated. United States
CreditForecast.com Household Credit Report
Nov. 2016: 3.8%
Total U.S. household borrowing accelerated to 3.82% y/y growth in November, up from 2.88% in October. New Zealand
Foreign Trade
Nov. 2016: -NZ$705 mil
New Zealand’s trade balance narrows further in November due to weak imports. » VIEW MORE ECONOMIC INDICATORS | 
