| Today's Economy
Economic Roundup: U.S. Retail Sales Pop, IP Jumps, and Fed Leaves Us Hanging Strong retail sales, industrial and production boost Q4 GDP tracking. FOMC minutes were uneventful. U.S. Supply-Chain Update: Improvement, Slowly Stress was easing at the close of 2021. Capital Market View: Earnings and Interest Rates Revised earnings expectations are causing problems in the financial markets. Q1 U.S. GDP Looking Better, for Now Some temporary supports juiced consumer spending in January, but they won't stick. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Road to Recovery: No Easy Path Inflation should moderate this year but will remain elevated, and that makes the Fed’s job extremely difficult. The U.S. Goods Addiction Is Real Year-over-year growth in goods prices is more than 12%, whereas annual services inflation is running at less than 5%. Global Vaccine Tracker: Hong Kong Battles Omicron Caseloads have been rising since a local virus cluster was first detected in late December. U.S. Chartbook: Fourth and Goal for the Fed March will be a critical month for monetary policy after CPI inflation came in above expectations. » VIEW MORE COMMENTARY
Today's Economic Indicators
Norway
GDP
2021Q4: 0.1% m/m
Norway’s GDP growth slowed significantly to 0.1% q/q in the fourth quarter from 3.9% in the third quarter. United Kingdom
Consumer Price Index
Jan. 2022: 5.5% y/y
The U.K. Euro Zone
Industrial Production
Dec. 2021: 1.2% m/m
The euro zone’s industrial production grew by 1.2% m/m in December, adding to the upwardly revised 2.4% increase in November. United States
MBA Mortgage Applications Survey
February 11: -5.4%
Mortgage application volume has fallen sharply for consecutive weeks. United States
Retail Sales
Jan. 2022: 3.8%, m/m
Retail sales soared past optimistic expectations in January as auto sales improved and there was payback for the weak December. United States
Import and Export Prices
Jan. 2022: 2.0% m/m
The incoming inflation data cement the Federal Reserve’s plan to begin raising the target range for the fed funds rate at the conclusion of its March meeting. Canada
Consumer Price Index
Jan. 2022: 5.1% y/y
The acceleration of inflation in January gives the Bank of Canada the green light to start hiking rates in March. Canada
Survey of Manufacturing
Dec. 2021: 0.7% m/m
Manufacturing continued to grow in December with yet another positive month. Canada
Wholesale Trade
Dec. 2021: 0.6% m/m
December saw wholesale sales rise by 0.6%, reaching C$7.62 billion. United States
Industrial Production
Jan. 2022: 1.4% m/m
U.S. industrial production came in stronger than either we or the consensus anticipated in January, rising 1.4%. United States
Business Inventories (MTIS)
Dec. 2021: 2.1% m/m
Business inventories increased by 2.1% from November to December. United States
NAHB Housing Market Index
Feb. 2022: 82
Homebuilder confidence inched down 1 point to 82 in February. United States
Moody's Analytics Inflation Expectations Pulse
February 13: 2.68%
Inflation expectations ticked up noticeably in the week ended February 13, according to the Moody’s Analytics Inflation Expectations Pulse. United States
Oil Inventories
February 11: 411.5 mil barrels
An unexpected increase in oil inventories will act as a weight on currently high oil prices. Singapore
Foreign Trade
Jan. 2022:
United States
FOMC Minutes
Jan. 2022:
The minutes from the January Federal Open Market Committee meeting suggest that the balance sheet runoff will be aggressive and start soon after the first increase in the target range in the fed funds rate. Japan
Machinery Orders
Dec. 2021:
Japan
Foreign Trade
Jan. 2022:
Australia
Employment Situation
Jan. 2022:
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