| Today's Economy
Capital Market View: Money Illusion and Recession Risks We find reasons that the Fed can pull off a soft landing. LatAm Daily Briefing: Growth Outlook Weakens for the Region Rising inflation and deteriorating external factors will put the brakes on expansion. BoE Preview: Thursday’s Hike Won’t Be the Last With inflation soaring, the central bank can’t risk falling behind the curve. Germany Dodges Technical Recession in Q1 Real GDP managed a slight increase after declining late last year. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Chartbook: ECI, Not GDP, Matters Most for the Fed The Fed likely paid more attention to continued strength in the ECI, rather than the drop in GDP. Emerging Market View: Out of Acronyms, Straddling the Abyss Higher commodity prices are biting back through higher inflation. U.S. Weekly Highlights and Preview, May 2, 2022 Along with raising the target range for the fed funds rate the Fed will announce the reduction in the size of its balance sheet. What’s Going on With U.S. Defense Spending? Real spending by the Pentagon weighed on GDP growth more than expected due in large part to surging fuel costs. » VIEW MORE COMMENTARY
Today's Economic Indicators
United States
CoreLogic Home Price Index
Mar. 2022: 20.9% y/y
The CoreLogic Home Price Index rose 20.9% year over year in March, up from the 20% rate before revisions in February, and clocked in at another record high. Australia
Monetary Policy
May. 2022: 0.35%
The Reserve Bank of Australia increased the cash rate by 25 basis points to 0.35%. Germany
Unemployment
Apr. 2022: 5%
Germany’s unemployment rate held flat at 5% in April as employment finally eclipsed its pre-pandemic mark. Hong Kong SAR (China)
GDP
2022Q1: -4% y/y
The Hong Kong economy contracted more sharply than we expected in the first quarter, with real GDP contracting 4% y/y, compared to the revised 4.7% growth in the prior quarter. Euro Zone
Unemployment
Mar. 2022: 6.8%
The euro zone’s unemployment rate declined to 6.8% in March from an upwardly revised 6.9% in February, as there were 85,000 fewer unemployed workers. Belgium
Retail Sales
Mar. 2022: -4.5% m/m
Belgium's retail sales are losing ground once again. Portugal
Industrial Production
Mar. 2022: 0.5%
Portuguese industrial production increased again in March. Brazil
Industrial Production
Mar. 2022: -1.7% y/y
Brazil’s industrial contraction continued to shrink in March as production gained some steam. United States
Moody's Analytics Used Vehicle Price Indexes
Apr. 2022: 21%
The Moody’s Analytics Used-Vehicle Price Index slightly increased from March to April. United States
Factory Orders (M3)
Mar. 2022: 2.2% m/m
U.S. factory orders increased 2.2% in March following an upwardly revised 0.1% gain (previously a 0.5% decline). United States
Job Openings and Labor Turnover Survey
Mar. 2022: 7.1% openings rate
The labor market remained tight at the end of March. United States
NAR Metro Prices
2022Q1: 15.7% y/y
The median price of an existing single-family home is up 15.7% from a year earlier, according to the National Association of Realtors. United States
Semiconductor Billings
Mar. 2022: 1.1%
Global semiconductor sales had an impressive start to the year. New Zealand
Employment Situation
2022Q1:
Australia
Retail Sales
Mar. 2022:
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