Economy.com: Daily Update
| Friday, September 06, 2024 |
| Today's Economy
Economic Roundup: Good, Not Great Though better than last month, August’s payroll estimate again undershot expectations. Geopolitical Risk Calendar: Federal Funding Countdown Commences Budget negotiations take top priority as the October 1 deadline looms. Europe Daily Briefing: Feeling Faint Euro zone GDP ekes out growth in the second quarter, but domestic demand falters. Asia-Pacific Daily Briefing: Philippine Industrial Production Gathers Steam Industrial output climbed 5.3% y/y in July. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Weekly Highlights and Preview, September 6, 2024 Although the labor market is cooling, concerns that the bottom is falling out are misguided. Canada Outlook: BoC Aims to Jump-Start Growth Policymakers will continue cutting interest rates as concerns shift from inflation to growth. Domestic Demand Momentum Disappoints in Euro Zone This year was meant to be a story of consumption-driven recovery, but you would struggle to see it in the detailed GDP data. Latin America Weekly Highlights and Preview, September 6, 2024 The months-long trend of rising inflation continues in Chile and Uruguay. » VIEW MORE COMMENTARY
Today's Economic Indicators
Japan
Consumption Activity Index
Jul. 2024: 0.3% m/m
The Bank of Japan’s real consumption activity index adjusted for travel rose by 0.3% m/m in July, broadly matching our expectations. France
Industrial Production
Jul. 2024: -0.5% m/m
France's industrial production dropped 0.5% month on month in July, partly reversing the 0.8% rise in June. Germany
Industrial Production
Jul. 2024: -2.4% m/m
A sharp 2.4% fall in industrial output in July adds to growing concerns about the German economy. Italy
Retail Sales
Jul. 2024: 0.5% m/m
Italy’s retail sales exceeded expectations in July, as they were up by 0.5% month over month versus the forecast of a 0.1% increase. Euro Zone
GDP
2024Q2: 0.2% q/q
The euro zone’s GDP rose 0.2% quarter over quarter in the second quarter, slowing from a 0.3% rise in the first quarter. Chile
Consumer Price Index
Aug. 2024: 4.74% y/y
Inflation continued to trend up in August for the fifth consecutive month as some prices are subject to realignments caused by an adjustment in electricity tariffs. Canada
Labor Force Survey
Aug. 2024: 6.6%
The August Labor Force Survey indicated a minor decrease in Canada's employment rate, despite a slight rise in total employment. United States
Employment Situation
Aug. 2024: 142,000 m/m
The U.S. labor market is cooling, though fears that the bottom is falling out are misguided. Canada
Purchasing Managers' Index
Aug. 2024: 48.2
The Ivey Purchasing Managers’ Index dropped off in August, falling from 57.6 to 48.2. Colombia
Consumer Price Index
Aug. 2024:
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