Economy.com Daily Update: November 18, 2024

Today's Economy

The U.S. economic calendar is light this week, but several key housing indicators are on the docket.

After last year’s recession, domestic demand boosts the economy’s outlook.

Can prices go back down after high inflation?

Gazprom's suspension of natural gas exports to the country could affect electricity exports.

Commentary

Labor strikes and tariff risks are back in focus.

Election results at home and abroad may see turbulent times ahead.

The 25-basis point rate cut this month should add to builder confidence, but this will be partially mitigated by weak mortgage activity.

Industrial output falls in Colombia, while the unemployment rate rises in Peru.

Today's Economic Indicators

United States
Moody's CMBS Delinquency Tracker
Oct. 2024: 6.94%
The Moody’s Delinquency Tracker total delinquency rate edged up 6 basis points to 6.94% in October.

Hong Kong SAR (China)
Employment Situation
Oct. 2024: 3.1%
Hong Kong’s seasonally adjusted unemployment rate ticked up to 3.1% for the August-to-October period.

Euro Zone
External Trade
Sep. 2024: €12.5 bil
The euro zone’s not seasonally adjusted balance of trade in goods came in at €12.5 billion in September, up from €10.5 billion in the same month a year earlier.

Chile
GDP
2024Q3: 2.3% y/y
After a hiccup in the previous period, Chile’s economy advanced in the third quarter, propelled by industry, commerce and services.

Canada
Housing Starts
Oct. 2024: 241 ths
Canada's housing market showed mixed signals in October.

Canada
International Transactions in Securities
Sep. 2024: C$29.3 bil
Foreign investors added C$29.3 billion in Canadian securities to their portfolios in September, the largest monthly investment since April.

World
Moody's Analytics Survey of Business Confidence
November 15: 28.9
Business sentiment has taken on a brighter hue across the globe.

United States
NAHB Housing Market Index
Nov. 2024: 46
Homebuilder confidence edged up 3 points to 46 in November, according to the National Association of Home Builders’ Housing Market Index.

Colombia
GDP
2024Q3: 2.0% y/y
The Colombian economy expanded at a measured pace in the third quarter of 2024 amid slowing inflation and less-restrictive monetary conditions.

United States
Treasury International Capital Flows
Sep. 2024: $216.1 bil
Net long-term international capital flows were $216.1 billion in September, an increase from net inflows of $108.8 billion in August.

Malaysia
Foreign Trade
Oct. 2024: