| Today's Economy
Massive Stimulus Softens the Blow From Real GDP's Record Dive Markets believe that the worst has passed for real GDP. Economic Roundup: Bad News, Both Old and New GDP contracted at a historic rate in the 2nd quarter, and labor market weakness has returned. LatAm Daily Briefing: Pandemic Will Erase Years of Social Advances Unemployment, and hence poverty, will soar to levels not seen in at least 15 years. Asia-Pacific Daily Briefing: Japan's Retail Sales Pick Up a Notch Retail sales improved after the state of emergency was lifted, but this is unlikely to last. » VIEW MORE TODAY'S ECONOMY
Commentary
Asia-Pacific Weekly Highlights and Preview: 31 July, 2020 The pandemic delivers a hit to South Korean trade. U.S. Consumer Outlook: They're Buying Goods Service spending will remain weak as headwinds buffet consumers. U.S. Weekly Highlights and Preview, July 27, 2020 Our preliminary forecast is for GDP to have declined around 33% at an annualized rate in the second quarter. U.S. Chartbook: A Recovery Meets Resistance Data begin showing signs that the recovery may be losing traction. » VIEW MORE COMMENTARY
Today's Economic Indicators
Germany
Unemployment
Jul. 2020: 6.4%
The German unemployment rate was unchanged at 6.4% in July, beating our expectations for a second month in a row. Italy
Unemployment
Jun. 2020: 8.8%
Italy’s employment situation worsened in June. Euro Zone
Business and Consumer Sentiment
Jul. 2020: 82.3
The euro zone's business and consumer sentiment posted another sharp increase, rising 6.5 points to 82.3. Euro Zone
Unemployment
Jun. 2020: 7.8%
The euro zone’s jobless rate edged up to 7.8% in June from an upwardly revised 7.7% in May, which is a small increase given the depth of the crisis. Canada
Earnings, Hours and Employment
May. 2020: 10.4%
As May ended, gradual reopenings started to unfold across most provinces. United States
Jobless Claims
July 25: 1,434,000
Seasonal factors are distorting weekly initial claims, but the increase in continuing claims is more concerning. United States
GDP
2020Q2: -32.9%
The collapse in U.S. United States
St. Louis Fed Financial Stress Index
July 24: -0.46
The St. United States
Natural Gas Storage Report
July 24: 26 bil cubic feet
Natural gas inventories rose by 26 billion cubic feet during the week ended July 24, slightly exceeding expectations of a 23-bcf build. South Korea
Retail Sales
Jun. 2020:
Japan
Employment Situation
Jun. 2020:
China
Manufacturing PMI
Jul. 2020:
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