| Today's Economy
Economic Roundup: Harvey, Irma, Debt Ceiling, ECB, Oh My It may be wishful thinking, but there is some talk of eliminating the debt ceiling. President Trump Strikes a Fiscal Deal With Congress The U.S. Senate passed legislation addressing the debt limit and federal government funding alongside hurricane relief. Initial Claims Spike After Harvey Filings will remain elevated over the next couple of weeks, and Irma could push them even higher. Webinar Replay: The Economic Impact of Hurricane Harvey The toll on U.S. GDP won't be enormous unless there are significant disruptions to the energy industry. » VIEW MORE TODAY'S ECONOMY
Commentary
Hurricane Harvey’s Effect on U.S. Energy Sector The storm and its aftermath have lifted oil and gas prices. Global Outlook: Broad Improvement, Eyes on Risk The stronger U.S. dollar and rising domestic demand should lift the global economy this year. U.S. Chartbook: Hurricane Harvey Adds Uncertainty Storm impact will likely reduce Q3 GDP growth but boost Q4. U.S. Weekly Highlights and Preview, September 1, 2017 Harvey's economic cost is quickly rising. » VIEW MORE COMMENTARY
Today's Economic Indicators
France
Foreign Trade
Jul. 2017: -€6bil
France’s trade deficit widened to €6 billion in July from the upwardly revised deficit of €4.8 billion in June. Germany
Industrial Production
Jul. 2017: 0.0%
German industrial production held steady at the start of the third quarter, after a 1.1% m/m drop in June. Euro Zone
GDP
2017Q2: 0.6%
The euro zone's real GDP expanded by 0.6% q/q in the second quarter, in line with preliminary estimates, and up from 0.5% in the first stanza. OECD
Composite Leading Indicators
Jul. 2017: 100.1
The OECD composite leading indicator held steady at 100.1 for the third month in a row. Euro Zone
Monetary Policy
Sep. 2017: 0.0%
As widely expected, the European Central Bank didn’t make any changes to its interest rate or balance sheet policies. Chile
Foreign Trade
Aug. 2017: US$597.2 mil
August was a strong month for Chilean trade. Canada
Building Permits
Jul. 2017: -3.5%
The value of Canadian building permits declined 3.5% to C$7.9 billion in July, causing year-ago growth to fall to 12.4% from 24.8% in June. United States
Moody's Analytics Beige Book Index
Aug. 2017: 127.8
The Moody's Analytics Beige Book Index came in with a rating of 128 for September’s edition of the Federal Reserve report, cooling off for the second consecutive Beige Book. United States
Jobless Claims
September 02: 298,000
The labor market remains in good health despite a jump in new filings. United States
Productivity and Costs
2017Q2: 1.5%
Second quarter productivity growth looks a little better, but the trend remains poor. Mexico
Consumer Price Index
Aug. 2017: 6.66%
Mexico’s inflation escalated in August as prices rose. United States
St. Louis Fed Financial Stress Index
September 01: -1.51
Financial stress conditions softened in the week ending September 1, hitting -1.51 (down 0.03 point), decreasing for the first time in five weeks. Canada
Purchasing Managers' Index
Aug. 2017: 56.3
The seasonally adjusted Ivey Purchasing Managers' Index hit 56.3 in August, down from 60 in July, but it is the 15th consecutive monthly reading above 50. United States
Quarterly Services Survey
2017Q2:
The report bodes well for revisions to the second quarter consumer spending. United States
Natural Gas Storage Report
September 01: 65 bil cubic feet
The build in natural gas inventories closely matched analyst expectations, which will have little effect on gas prices. United States
Oil Inventories
September 01: 462.4 mil barrels
A larger than expected increase in crude oil inventories will put downward pressure on oil prices. China
Foreign Trade
Aug. 2017:
Japan
GDP
2017Q2:
Australia
Housing Finance
Jul. 2017:
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