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Economic Roundup: Job Openings Cool According to April's JOLTS report, openings fell to just 8.1 million, the lowest level since 2021. U.S. High-Frequency GDP Update The 1.9% annualized growth in the second quarter would mark a modest acceleration. OPEC Abandons Dream of $100 Oil The cartel's production cuts are proving unsustainable. LatAm Daily Briefing: LatAm’s Deteriorating Fiscal Health Deficits climbed across the region in 2023. » VIEW MORE TODAY'S ECONOMY
Commentary
The Netherlands Outlook: Underlying Strength Prospects for the economy are positive with household consumption the main driver of growth. Assessing the Impact of Homeowners Insurance on House Prices and Affordability Moody’s Analytics will incorporate costs of insurance and property taxes into its house price forecasting models. New Zealand Budget Review: Budget Plays It by the Book The budget has delivered on key commitments, but a weaker economy has pushed back the return to surplus. U.S. Chartbook: Inflation Holds Steady The Fed’s preferred measure of inflation advanced 0.2% in April, keeping the annual rate unchanged from the previous month and still above target. » VIEW MORE COMMENTARY
Today's Economic Indicators
Switzerland
Consumer Price Index
May. 2024: 1.4%
Switzerland’s CPI inflation rate was stable at 1.4% year over year in May. Germany
Unemployment
May. 2024: 5.9%
Germany’s unemployment rate held steady at 5.9% in May, unchanged for six consecutive months. Brazil
GDP
2024Q1: 2.5% y/y
Brazil’s economy advanced in positive territory in the first quarter, although growth remained moderate as the domestic market still faced the monetary brake imposed to bring inflation to target. Australia
Datium Insights - Moody’s Analytics Used Vehicle Price Index
May. 2024: -7.2% y/y
In May, the used-vehicle price index in Australia recorded its first year-over-year decrease since the beginning of the year. While prices are already 7.2% lower than last year, month-over-month prices fell 3%, in contrast to a slight 0.1% increase observed in April. United States
Factory Orders (M3)
Apr. 2024: 0.7% m/m
U.S. factory orders climbed 0.7% in April, in line with our forecast. United States
Job Openings and Labor Turnover Survey
Apr. 2024: 8,059 ths
The April JOLTS report confirms our narrative of a strong yet loosening labor market. United States
Vehicle Sales - BEA
May. 2024: 15.9 mil, SAAR
In May, U.S. new light vehicle sales increased slightly, reaching 15.9 million SAAR, marking the highest monthly sales figures this year and representing 2.5% growth compared with the same period last year. South Korea
GDP
2024Q1:
Philippines
Consumer Price Index
May. 2024:
Australia
GDP
2024Q1:
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