| Today's Economy
Economic Roundup: All Eyes on the U.S. Labor Market We expect a strong bounce back from weak job growth in October. Europe Daily Briefing: No Confidence France's government is collapsing in yet another show of political upheaval this year. LatAm Daily Briefing: Brazil’s Overheating Economy Policymakers must act to control forces that are sending the economy into overdrive. Final Thoughts Ahead of November U.S. Employment We look for the economy to have added 215,000 jobs, on net, last month. » VIEW MORE TODAY'S ECONOMY
Commentary
France's Government Falls Prime Minister Michel Barnier lost a no-confidence vote on Wednesday after a divisive budget debate. Discourse on DOGE (Part One) U.S. President-elect Trump plans to commission an advisory board to curtail excess government spending and regulation. Europe Chartbook: Bad Month for Purchasing Managers The euro zone composite PMI fell back into contractionary territory in November. U.S. Chartbook: Another Cut on the Horizon Recent data give the Fed confidence to trim interest rates again this month. » VIEW MORE COMMENTARY
Today's Economic Indicators
France
Industrial Production
Oct. 2024: -0.1% m/m
France's industrial production fell 0.1% month on month in October, following an upwardly revised 0.8% drop in September. Taiwan (China)
Consumer Price Index
Nov. 2024: 2.1% y/y
Taiwan’s inflation jumped to 2.1% y/y in November from October’s 1.7%, exceeding both our expectations and consensus forecasts. Spain
Industrial Production
Oct. 2024: 0.5% m/m
Spain’s industrial production expanded 0.5% month over month in October in seasonally adjusted and calendar-adjusted terms. Euro Zone
Retail Sales
Oct. 2024: -0.5% m/m
The euro zone’s retail sales fell 0.5% month on month in October, fully reserving September’s diametrically opposed increase. Ireland
GDP
2024Q3: 3.5% q/q
GDP in Ireland remains volatile, driven by multinational activity. United States
Challenger Report
Nov. 2024: 57,727
Layoff announcements ticked up mildly in November but remain low by historical standards. United States
Jobless Claims
November 30: 224,000
U.S. initial claims for unemployment insurance remain quite low. United States
International Trade (FT900)
Oct. 2024: -$73.8 bil
U.S. imports fell by more than exports in October, narrowing the U.S. trade deficit in goods and services to $73.8 billion from a revised $83.8 billion in September. The value of both exported and imported services increased, but the value of traded goods fell across almost all major categories of exports and imports. United States
Moody's Analytics Beige Book Index
Dec. 2024: 22.2
The Moody’s Analytics Beige Book Index rose in December to 22.2, up from 16.7 in the last report. Canada
International Merchandise Trade
Oct. 2024: -C$ 0.92 bil
Canada's merchandise exports increased 1.1% in October, while imports rose 0.5%. United States
St. Louis Fed Financial Stress Index
November 29: -0.61
The St. United States
Monthly GDP
Oct. 2024: 0.6% m/m
According to the Moody’s Analytics monthly estimate, U.S. real GDP increased 0.6% in October. United States
Natural Gas Storage Report
November 29: -30 bil cubic feet
Last week’s draw in natural gas inventories fell short of analyst expectations, which could put some slight downward pressure on gas prices. Brazil
Foreign Trade
Nov. 2024: US$7.03 bil
The country’s trade balance reported a surplus in November as exports remained subdued again as in the previous months. Philippines
Industrial Production
Oct. 2024:
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