Economy.com: Daily Update
| Wednesday, October 23, 2024 |
| Today's Economy
LatAm Daily Briefing: Dominican Republic's Fiscal Reform A new law intends to streamline the government’s tax structure and revenue collection. Economic Roundup: Existing-Home Sales Remain in Retreat Sales of existing homes declined in September across most U.S. regions. Europe Daily Briefing: Military Cooperation The U.K. and Germany signed a new defence agreement. Asia-Pacific Daily Briefing: Headline Inflation Fell in Singapore Core inflation rose for the second month in a row. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Employment Outlook: Orbiting, Not Landing October’s jobs report is all but certain to be negatively impacted by Hurricane Milton. China Economic Risk Matrix: Supports Arrive Last-minute supports should ensure GDP growth lands close to 5% this year. Australia Risk Matrix: No Sign of Spending Splurge Underlying inflation should slide into the target band by mid-2025. U.S. Outlook: An Exceptional Economy For it to continue in this way will require the presidential election and its outcome to play out in a reasonably graceful way. » VIEW MORE COMMENTARY
Today's Economic Indicators
Singapore
Consumer Price Index
Sep. 2024: 2.0% y/y
Singapore's inflation figures came in mixed in September. Taiwan (China)
Industrial Production
Sep. 2024: 11.2% y/y
Taiwan's industrial production jumped 11.2% in September from a year earlier as manufacturing output climbed 12.1%. United States
MBA Mortgage Applications Survey
October 18: -6.7%
U.S. mortgage activity fell again in the week ended October 18. Mexico
Retail & Wholesale Sales
Aug. 2024: -0.8% y/y
Retail consumption continued to report weakness in August, as the absence of political-electoral spending is taking a toll on consumer decisions and, consequently, on domestic demand. Canada
Monetary Policy
Oct. 2024: 3.75%
The Bank of Canada opted to go big in October. United States
Existing-Home Sales
Sep. 2024: 3.84 mil, SAAR
Existing-home sales fell again in September, declining 1% to a seasonally adjusted annual rate of 3.84 million, nearly in line with consensus expectations of 3.86 million. United States
Oil Inventories
October 18: 426.0 mil barrels
Oil inventories had a build of 5.5 million barrels in the week ended October 18, well above consensus estimates of an 800,000-barrel increase. United States
Beige Book
Oct. 2024:
According to business anecdotes collected from the 12 Federal Reserve districts, U.S. economic activity has remained relatively unchanged since early September. Argentina
Economic Activity Indicator
Aug. 2024: -3.8% y/y
The statistics office’s monthly economic output index (IMAE) fell 3.8% year on year in August after falling 0.9% in the previous month. South Korea
GDP
2024Q3:
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