Economy.com: Daily Update
| Today's Economy
Economic Roundup: Bank of Canada Makes the First Move The June rate cut marks the first central bank pivot among G-7 countries. LatAm Daily Briefing: Asylum Restrictions Pose New Challenges The impact of the Biden administration’s new immigration restrictions will reverberate across the region. Europe Daily Briefing: Euro Zone PPI Slowdown Core and headline producer prices point to further easing in consumer price inflation. Asia-Pacific Daily Briefing: Australia Posts Dismal Q1 GDP Result GDP grew 0.1% q/q, but the economy shrank on a per capita basis. » 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: Playing 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
France
Industrial Production
Apr. 2024: 0.5% m/m
France's industrial production increased 0.5% month on month in April after an upwardly revised 0.2% drop in March. United States
MBA Mortgage Applications Survey
May 31: -5.2%
Mortgage activity in the U.S. fell in the week ended May 31. Brazil
Industrial Production
Apr. 2024: 2% y/y
Hence, the index of industrial production reported an annual increase of 2% in April after an increase of 2.3% in the previous month, according to seasonally adjusted figures; from the previous month, production declined 0.5%. Canada
Monetary Policy
Jun. 2024: 4.75%
The pivot has begun. United States
Oil Inventories
May 31: 455.9 mil barrels
Oil inventories had an unexpected build over the week, which could put further downward pressure on prices. Uruguay
Consumer Price Index
May. 2024: 4.1% y/y
Annual inflation in Uruguay rebounded in May. United States
ISM Nonmanufacturing Index
May. 2024: 53.8
The U.S. service sector bounced back in May, according to the ISM nonmanufacturing survey. United States
Monthly GDP
Apr. 2024: -0.3% m/m
Following a mild decline in the prior month, real GDP fell 0.29% in April, according to our monthly estimate. Argentina
Industrial Production - Advance
Apr. 2024: -16.6% y/y
Industrial output in Argentina contracted 16.6% year on year in April not seasonally adjusted, after falling 21.4% in the previous month. Australia
Foreign Trade
Apr. 2024:
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