| Today's Economy
Economic Roundup: Flurry of Data to End the Week Inflation and income were up, sentiment was down, and data on spending were mixed. Canada Weekly: U.S. Road Rage The auto tariffs proposed by the U.S. would substantially shrink the Canadian auto industry. Europe Daily Briefing: U.K. Ends Year With Little Momentum Fourth-quarter GDP was 0.1% q/q, while euro zone sentiment sank more than expected. Geopolitical Risk Calendar: Countries Weigh Tariff Costs The world reacts to U.S. protectionist levies. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Weekly Highlights and Preview, March 28, 2025 After February’s lukewarm 151,000-job increase, we expect a further slowdown in March to just 100,000. U.S. Household Wealth Has Risen Strongly and Broadly Growth in wealth over the past five years has been unusually uniform across income quintiles. Europe Weekly Highlights and Preview, 28 March 2025 We expect a minor slowing in euro zone consumer price inflation for March, down to 2.2% y/y from 2.3% previously.
Detour Ahead: U.S. Auto Market Will Be Rerouted by New Tariffs U.S. consumers are asked to pony up to defend domestic auto manufacturing. » VIEW MORE COMMENTARY
Today's Economic Indicators
Thailand
Industrial Production
Feb. 2025: -3.9% y/y
Thai industrial production fell 3.9% year on year in February, an outcome worse than our forecast for a 1.7% drop and January’s revised 1.1% retreat. United Kingdom
Retail Sales
Feb. 2025: 1.0% m/m
U.K. retail sales rose by 1% month on month in February, building on an already-strong 1.4% increase in January (revised down from 1.7%). Germany
Unemployment
Mar. 2025: 6.3%
Germany’s labour market deteriorated further in March, with the unemployment rate ticking up to 6.3% and the number of unemployed rising by 26,000, following February’s shallower 5,000 increase. United Kingdom
GDP - Quarterly
2024Q4: 0.1% q/q
The revised estimate of U.K. Euro Zone
Business and Consumer Sentiment
Mar. 2025: 95.2
The euro zone’s economic sentiment indicator fell to 95.2 in March from 96.3 in February, a larger fall than we had expected. Belgium
Consumer Price Index
Mar. 2025: 2.9% y/y
In March, Belgium’s CPI inflation rate dropped to 2.9% y/y from 3.5% in February. Brazil
Employment Situation
Feb. 2025: 6.8%
Brazil’s unemployment rate continued to increase in February as the economy moderated toward more consistent rates. Mexico
Employment Situation
Feb. 2025: 2.5% Unemployment
Mexico’s unemployment rate improved in February from the previous month when it rebounded; however, in annual terms, the unemployment rate did not improve. Canada
Gross Domestic Product by Industry
Jan. 2025: 0.4% m/m
Canada's real gross domestic product expanded 0.4% in January after a 0.3% rise in December. United States
Personal Income
Feb. 2025: 0.8% m/m
Nominal personal income surged 0.8% in February, exceeding our and consensus expectations. United States
PCE Deflator
Feb. 2025: 0.3% m/m
Price pressures were a touch stronger than expected in February, according to the Federal Reserve’s preferred inflation measure. United States
Real Personal Spending
Feb. 2025: 0.1% m/m
Real consumer spending rebounded weakly in February after a sharp drop in January. Chile
Employment
Feb. 2025: 8.4%
The Chilean labor market improved in early 2025 as the economy grew steadily. United States
Moody’s Analytics House Price Index
Feb. 2025: 4.5%
House price appreciation moderated further in February, according to the Moody’s Analytics Home Price Index. United States
State Personal Income
2024Q4: 4.6%, SAAR
State personal income increased at an annualized rate of 4.6% in the fourth quarter, up from a downwardly revised 2.3% in the third quarter. United States
Regional and State Employment
Feb. 2025:
February’s regional and state employment report performed better than expected, suggesting cuts to federal employment by the Department of Government Efficiency have not yet been meaningfully captured in the monthly data. United States
University of Michigan Consumer Sentiment Survey
Mar. 2025: 57.0
The University of Michigan consumer sentiment index remains at a low level. » VIEW MORE ECONOMIC INDICATORS | 
