Economy.com Daily Update: November 10, 2022

Today's Economy

The U.S. consumer price index rose 0.4% in October, less than we or the consensus anticipated.

October's CPI report will not alter the Fed's near-term plans.

Worldwide investment-grade corporate bonds see a 30% dip.

Solid growth boosts this year’s numbers, but a slowdown next year seems likely.

Commentary

The economic expansion is highly vulnerable to anything that might go wrong.

This is the first in a three-part series on European fiscal rules from inception to the next round of reform.

If the U.S. economy enters a recession next year, don’t expect a divided government to provide economic support.

Republicans are poised to sweep both the House and Senate on Election Day.

Today's Economic Indicators

Netherlands
Industrial Production
Sep. 2022: 1.7% m/m
Industrial production in the Netherlands experienced a 1.7% m/m seasonally adjusted rebound in September.

Canada
RPS House Price Index
Oct. 2022:

Denmark
Consumer Price Index
Oct. 2022: 10.1% y/y
Danish CPI rose 10.1% y/y in October, up from 10% y/y in September.

Finland
Industrial Production
Sep. 2022: 1.3% m/m
Finland’s industrial production expanded by 1.3% month over month after an upwardly revised 0.6% increase in August.

Norway
Consumer Price Index
Oct. 2022: 7.5% y/y
Norwegian CPI came in at 7.5% y/y, rising from 6.9% in September.

Austria
Industrial Production
Sep. 2022: -1.6% m/m
Total Austrian industrial production fell by 1.6% on a monthly basis in September after a sharp rebound of 4.1% in August, supporting our view that the August recovery was temporary.

Italy
Industrial Production
Sep. 2022: -1.8% m/m
After two consecutive months of rises, Italy’s industrial production fell by 1.8% m/m in September, even though the headline index remained more than 1% above pre-pandemic levels.

Ireland
Consumer Price Index
Oct. 2022: 9.2% y/y
Irish inflation increased again in October to 9.2% after dropping two months in a row to 8.2% in September.

Brazil
Consumer Price Index
Oct. 2022: 6.47% y/y
Brazil’s inflation continued to decline quickly in October as prices continued to moderate significantly.

United States
Jobless Claims
November 05: 225,000
U.S. initial claims for unemployment insurance remain historically low but are starting to creep higher as economic uncertainty increases.

United States
Consumer Price Index
Oct. 2022: 0.4% m/m
Consumers got more relief than expected on the inflation front in October, despite a rise in gasoline prices.

United States
St. Louis Fed Financial Stress Index
November 04: -0.58
The St.

United States
MBA Delinquency Rates
2022Q3: 3.45%
Mortgage delinquency rates dropped 19 basis points to 3.45% in the third quarter, according to the Mortgage Bankers Association's survey.

United States
NAR Metro Prices
2022Q3: 8.6% y/y
The median price of an existing single-family home is up 8.6% from a year earlier, according to the National Association of Realtors.

Belgium
Industrial Production
Sep. 2022: 0.7% y/y

United States
Natural Gas Storage Report
November 04: 79 bil cubic feet
Last week’s build in natural gas fell short of analyst predictions, but this report is unlikely to sway prices too noticeably.

Mexico
Monetary Policy
Nov. 2022: 10%
Mexico’s central bank continued to tighten monetary conditions as inflation remains high.

United States
Treasury Budget
Oct. 2022: -$87.8 bil
October marks the beginning of fiscal 2023.

Malaysia
GDP
2022Q3: