| Today's Economy
Economic Roundup: BoE Willing to Wait The Bank of England kept its main policy rate unchanged in June. LatAm Daily Briefing: Monetary Neutrality Unlikely in 2024 As monetary restriction eases, neutrality seems out of reach. Inside Economics Podcast: Stubborn Inflation, Reluctant Fed Mark Zandi hosts a webinar on the course ahead for inflation and monetary policy. Europe Daily Briefing: A Day for Central Banks The BoE and Norges Bank kept policy rates on hold, while SNB made a cut. » VIEW MORE TODAY'S ECONOMY
Commentary
APAC Outlook: Outperforming but Underachieving The Asia-Pacific region is doing better than most, but is that enough? Assessing the Macroeconomic Consequences of Biden vs. Trump Both major candidates for U.S. president have a wide range of proposals that could have significant impacts on the economy for years to come. China’s Long-Running African Trade Paying Dividends Africa will be a growth market for Chinese industry for years to come. Global Outlook: Tick Tock A gradual and delayed monetary easing cycle will continue to cap global demand into 2025. » VIEW MORE COMMENTARY
Today's Economic Indicators
Malaysia
Foreign Trade
May. 2024: MYR10.1 bil
Malaysia’s trade performance in May was almost spot on our expectations. United States
Moody's CMBS Delinquency Tracker
May. 2024: 5.59%
The Moody’s Delinquency Tracker total delinquency rate increased 22 basis points to 5.59% in May. Indonesia
Monetary Policy
Jun. 2024: 6.25%
Bank Indonesia held is BI-rate at 6.25% at its June meeting, matching our and consensus expectations. Switzerland
Monetary Policy
Jun. 2024: 1.25%
The Swiss National Bank cut rates by 25 basis points at its June meeting, following a similar rate cut at its previous March meeting. Norway
Monetary Policy
Jun. 2024: 4.5%
The Norges Bank held its policy rate unchanged Thursday at 4.5%. Hong Kong SAR (China)
Employment Situation
May. 2024: 3.0%
Hong Kong’s seasonally adjusted unemployment rate remained at 3% for the March-to-May period, marking three straight three-month periods of no change. United Kingdom
Monetary Policy and Minutes
Jun. 2024: 5.25%
At the June meeting, the Bank of England kept the policy rate unchanged at 5.25%, in line with our baseline and financial market expectations. Mexico
Retail & Wholesale Sales
Apr. 2024: 3.2% y/y
Mexico’s household consumption rebounded in April as the month included more working days compared with the same month of 2023 when the Easter holiday was celebrated. Canada
New Housing Price Index
May. 2024: 0% y/y
New house prices in Canada edged up 0.2% in May with the biggest gains in Trois-Rivières, Calgary and Halifax. United States
Current Account
2024Q1: -$237.6 bil
The U.S. current account deficit widened by $15.9 billion to $237.6 billion in the first quarter, or 3.4% of GDP. United States
Jobless Claims
June 15: 238,000
In the week ended June 15, initial unemployment claims fell to 238,000 from 243,000 in the prior week. United States
Philadelphia Fed Survey
Jun. 2024: 1.3
The Manufacturing Business Outlook Survey from the Philly Fed suggests goods producers in the Fed’s Third District continue to hang tough. United States
New Residential Construction (C20)
May. 2024: 1.277 mil, SAAR
Residential construction slowed in May. United States
St. Louis Fed Financial Stress Index
June 14: -0.85
U.S. financial stress declined the week ended June 14, with the St. United States
NAHB Housing Market Index
Jun. 2024: 43
Homebuilder confidence edged down 2 points to 43 in June, according to the National Association of Home Builders’ Housing Market Index. United States
Oil Inventories
June 14: 457.1 mil barrels
Oil inventories had a draw of 2.5 million barrels in the week ended June 14, a smaller decline than the 4.1 million barrels the consensus expected. Japan
Consumer Price Index
May. 2024:
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