| Today's Economy
Something Is About to Spook the Fed It won't be the employment data or CPI, but the Q4 ECI will not sit well with the central bank. LatAm Daily Briefing: Peru’s Inflation Sits Squarely on the Supply Side Global supply-chain issues drive inflation to a 12-year high. Q4 U.S. GDP Tracking Estimate Continues to Slide We now have fourth-quarter growth on track to rise 6.8% at an annualized rate. Omicron Didn't Hit Labor Market in December, but Watch Out in January Surging U.S. cases are going to keep people from working and delay re-entry into the labor force. » VIEW MORE TODAY'S ECONOMY
Commentary
Global Vaccine Tracker: Omicron to Bite Into Growth The economic costs are mounting, and our assumption that each passing wave of COVID-19 will be less costly could be optimistic. 2022 Economic Outlook: Time to Heal Despite it all, the U.S. economy’s ability to overcome the pandemic has been admirable. Australia Risk Matrix Update: Endemic Living Isn't Easy The Omicron variant is adding to uncertainty and downside risk. U.S. Inflation Tracker: Expect Fed to Fight China’s so-called zero-tolerance policy regarding COVID-19 clouds the outlook for supply chains and prices. » VIEW MORE COMMENTARY
Today's Economic Indicators
Japan
Consumer Confidence
Dec. 2021: 39.1
Japan’s consumer confidence index ticked down to 39.1 in December from November’s 39.2 amidst increasing concern about the impact of the Omicron variant of COVID-19. Austria
Retail Sales
Nov. 2021: 11.0% y/y
Despite an impressive yearly growth rate, Austrian retail sales worsened an already sluggish trend in November owing to the lockdowns. United States
MBA Mortgage Applications Survey
December 31: -5.6%
In the last week of 2021, mortgage applications declined 5.6%. United States
ADP National Employment Report
Dec. 2021: 807,000 m/m, ths
The job market strengthened in December as the fallout from the Delta variant was fading and the hit from Omicron had yet to begin in earnest. Canada
New Housing Price Index
Nov. 2021: 11.7% y/y
Canada
Building Permits
Nov. 2021: 6.8% m/m
Building permits had a hearty increase in November, led by residential building. United States
Moody's Analytics Inflation Expectations Pulse
January 02: 2.66%
Inflation expectations held flat in the week ended January 2, according to the Moody’s Analytics Inflation Expectations Pulse. Australia
Datium Insights - Moody’s Analytics Used Vehicle Price Index
Dec. 2021: 18.0% y/y
Australian used-vehicle price appreciation accelerated again in December. United States
Moody’s Analytics Policy Uncertainty Index
December 31: 349.5 4-wk MA
The four-week moving average in our U.S. United States
Oil Inventories
December 31: 417.9 mil barrels
A smaller-than-expected decline in oil inventories will have a negative effect on oil prices. United States
Vehicle Sales - BEA
Dec. 2021: 12.4 mil, SAAR
BEA reported U.S. new-vehicle sales dropped to 12.4 million seasonally adjusted annualized units in December. Uruguay
Consumer Price Index
Dec. 2021: 8% y/y
Inflation in Uruguay was nearly 8% in December year on year. United States
FOMC Minutes
Dec. 2021:
The minutes from the December meeting of the Federal Open Market Committee showed the central bank believed the time to begin removing policy accommodation was near, and policymakers favor interest rates over the balance sheet as the primary tool. United States
Semiconductor Billings
Nov. 2021: 1.8%
Global semiconductor sales continue to rise at a rapid pace. Colombia
Consumer Price Index
Dec. 2021:
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