| Today's Economy
Economic Roundup: U.S. Labor Market Is More Than Meets the Eye While the headline figures in the employment report were strong, the details were less so. Geopolitical Tracker: Fight Night on Capitol Hill The House is rushing to get the OBBBA passed before President Trump's July 4 deadline. Europe Daily Briefing: Clawing Back Growth The euro zone services sector expanded in June, pulling up the composite PMI reading. Small Businesses Appear to Be Cutting Jobs Firms with fewer than 50 employees lost 47,000 jobs in June, according to ADP. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Weekly Highlights and Preview, July 3, 2025 The U.S. economic calendar is quiet next week, with only a handful of data due for release. U.K. Outlook: First-Quarter Strength Another False Dawn Muted growth, stubborn inflation and fiscal fragility will remain the dominant themes. CRE Preliminary Trend Analysis: 2025Q2 CRE performance weakened in the second quarter of 2025. U.S. Chartbook: A Broad Cooldown Recent data show steady slowing across the economy after GDP's first-quarter decline. » VIEW MORE COMMENTARY
Today's Economic Indicators
Switzerland
Consumer Price Index
Jun. 2025: 0.1%
Switzerland’s CPI inflation rate rebounded to 0.1% y/y in June after consumer prices declined 0.1% in May. Canada
International Merchandise Trade
May. 2025: -C$ 5.86 bil
In May, Canada's merchandise exports increased 1.1% while imports fell by 1.6%. United States
Jobless Claims
June 28: 233,000
U.S. initial claims for unemployment insurance continue to move virtually sideways. United States
Employment Situation
Jun. 2025: 147,000 m/m
Despite a favorable headline reading, the labor market is clearly softening. United States
International Trade (FT900)
May. 2025: -$71.5 bil
The U.S. trade deficit in goods and services widened to $71.5 billion in May, up $11.3 billion (19%) from $60.3 billion in April (revised). United States
Factory Orders (M3)
May. 2025: 8.2% m/m
In May, U.S. factory orders jumped 8.2%. United States
St. Louis Fed Financial Stress Index
June 27: -0.70
Financial market stress declined slightly last week. United States
ISM Nonmanufacturing Index
Jun. 2025: 50.8
The U.S. services sector expanded in June after contracting slightly in May. United States
Natural Gas Storage Report
June 27: 55 bil cubic feet
Last week’s increase in natural gas exceeded analyst expectations, which could push down on gas prices. Uruguay
Consumer Price Index
Jun. 2025: 4.59% y/y
Uruguay's annual inflation rate was lower than expected, at 4.6% year over year, as prices fell by 0.09% in June. Philippines
Consumer Price Index
Jun. 2025:
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