| Today's Economy
Misleading Read on U.S. Wages Weakness in median usual weekly earnings in Q4 won't stick; annual data show a clear acceleration. Mother Nature Boosts U.S. Industrial Production Colder weather was likely behind the 5.6% increase in utility output. The More Things Change, the More They Stay the Same Worries that the recession permanently changed the U.S. labor market were misguided. Economic Briefing: Aussie Appetite for Housing Is Not Over Yet Uncertainty across Asia caused stocks and currencies to decline. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Chartbook: Fundamentals Are Sound The labor market remains solid as holiday retail sales exceed expectations. Fed's Policy Framework Options: Nominal GDP Targeting Persistently low inflation raises the odds of a change before the next recession. U.S. Regional Outlook: Strength in the Late Stage No states are in recession, and this year should be a good year nearly all around the country. Brazil Outlook: Second-Year Recovery The economy will accelerate and inflation will stay around target. » VIEW MORE COMMENTARY
Today's Economic Indicators
Euro Zone
Consumer Price Index
Dec. 2017: 1.4%
Euro zone annual harmonized inflation decelerated to 1.4% in December, in line with the preliminary estimates, from 1.5% in the previous month. United States
MBA Mortgage Applications Survey
January 12: 4.1%
Mortgage applications rose again last week, even though interest rates were up. Russian Federation
Foreign Trade
Nov. 2017: $11.5 bil
Russia’s trade balance made strong gains in November. United States
Industrial Production
Dec. 2017: 0.9%
Industrial production surprised to the upside in December, rising 0.9%, beating both the consensus forecast and our above-consensus projection. Canada
Monetary Policy
Jan. 2018: 1.25%
The Bank of Canada raised the target for its overnight policy rate as recent employment data proved too good to ignore. United States
NAHB Housing Market Index
Jan. 2018: 72
Homebuilder sentiment inched down 2 points to 72 in January. United States
Median usual weekly earnings
2017Q4: 0.9%
There isn’t any reason to be concerned about the weakness in wage growth in the fourth quarter, as it won’t stick. United States
Moody’s Analytics Policy Uncertainty Index
January 12: 102.1
Policy uncertainty continues to increase, but we don’t believe the immediate economic costs are significant. United States
Beige Book
Jan. 2018:
The Federal Reserve’s Beige Book, covering economic activity from late November through the end of the year, suggests that economic activity expanded at a modest to moderate rate in nearly all districts, while the Dallas district experienced a robust increase. United States
Treasury International Capital Flows
Nov. 2017: $57.5 bil
Net long-term inflows increased in November. Australia
Employment Situation
Dec. 2017:
China
Fixed Asset Investment
Dec. 2017:
China
GDP
2017Q4:
China
Industrial Production
Dec. 2017:
China
Retail Sales
Dec. 2017:
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