| Today's Economy
LatAm Daily Briefing: A Chastened Congress Frames Peru's Elections Congress will reconvene at the end of this month. The U.S and China Sign the Phase One Trade Deal The agreement will do little to reverse the damage of the trade war, but it may deter escalation. Europe Daily Briefing: The BoE Can Afford to Wait Drags on December's CPI were largely one-off factors; a rebound is warranted in January. Asia-Pacific Daily Briefing: South Korea's Rising Unemployment Rate The fall in participation was overwhelmed by the fall in the number of employed in December. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Regional Outlook: Demographic Leaders Expand Their Edge The South continues to lead the way in population growth. Trade Diversion Since the U.S.-China Trade War The potential gains from trade diversion are likely to be the highest for the EU, Mexico and Taiwan. U.S. Chartbook: Winter Is Coming...Eventually Strength in the labor market and service economy is offsetting weakness in manufacturing. U.S. Weekly Highlights and Preview, January 13, 2020 If the U.S.-China deal is signed, the devil will be in the details. » VIEW MORE COMMENTARY
Today's Economic Indicators
France
Consumer Price Index
Dec. 2019: 1.6%
France's EU-harmonized inflation rate increased to 1.6% y/y in December after hitting 1.2% in November. Spain
Consumer Price Index
Dec. 2019: 0.8%
Spain’s consumer price index was up 0.8% on a year-ago basis in December. United Kingdom
Consumer Price Index
Dec. 2019: 1.3%
The U.K.’s CPI inflation fell to a below-consensus 1.3% y/y in December from 1.5% in November. Euro Zone
Industrial Production
Nov. 2019: 0.2%
Euro zone industrial production rose by 0.2% m/m in November, only partially reversing the 0.9% drop in October. Euro Zone
External Trade
Nov. 2019: €20.7 bil
The euro zone trade surplus grew to €20.7 billion in November from €18.2 billion a year earlier. Brazil
Retail Sales Index
Nov. 2019: 2.9%
Brazil's household consumption advanced in November as the economy recovered. United States
MBA Mortgage Applications Survey
January 10: 30.2%
Mortgage applications rose 30.2% over the week of January 10, with both the refinance and purchase indexes moving up. United States
NY Empire State Manufacturing Survey
Jan. 2020: 4.8
Growth in New York picked up slightly to begin the year, according to the January Empire State Manufacturing Survey. United States
Producer Price Index
Dec. 2019: 0.1%
The producer price index for final demand increased 0.1% in December, weaker than either we or the consensus anticipated. United States
Oil Inventories
January 10: 428.5 mil barrels
A much larger-than-expected decline in crude oil inventories will put upward pressure on oil prices. India
Foreign Trade
Dec. 2019: -US$11.3 bil
Coming in short of market consensus, India’s trade deficit narrowed to $11.25 billion in December from $14.49 billion a year earlier. China
Monetary Aggregates
Dec. 2019:
Argentina
Consumer Price Index
Dec. 2019: 53.8%
The statistics office’s national consumer price index increased 3.7% in December, down from 4.3% in the previous month but up from 2.6% a year earlier. United States
Beige Book
Jan. 2020:
The January edition of the Federal Reserve Beige Book indicates that economic activity increased modestly from mid-November through the end of 2019. Japan
Machinery Orders
Nov. 2019:
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