Economic Calendar

In Brazil, interest rate decisions are taken by The Central Bank of Brazil's Monetary Policy Committee (COPOM). The official interest rate is the Special System of Clearance and Custody rate (SELIC) which is the overnight lending rate.

The Chicago Fed National Activity Index (CFNAI) is designed to gauge overall economic activity and related inflationary pressure. The CFNAI is based on a weighted average of 85 existing monthly indicators of national economic activity. It has an average value of zero and a standard deviation of one. Since economic activity tends toward trend growth rate over time, a positive reading corresponds to growth above trend and a negative reading corresponds to growth below trend.

In South Korea, the Composite Consumer Sentiment Index (CCSI) measures the level of optimism that consumers have about the performance of the economy. The index is based on a survey of around 2200 households. The CCSI is computed as a sum of six variables, including current living standards, prospective household income and prospective spending. A CCSI above 100 indicates an improving outlook and below 100 a deteriorating outlook.

In Australia, interest rates decisions are taken by the Reserve Bank of Australia's Board. The official interest rate is the cash rate. The cash rate is the rate charged on overnight loans between financial intermediaries, is determined in the money market as a result of the interaction of demand for and supply of overnight funds.

In Australia, interest rates decisions are taken by the Reserve Bank of Australia's Board. The official interest rate is the cash rate. The cash rate is the rate charged on overnight loans between financial intermediaries, is determined in the money market as a result of the interaction of demand for and supply of overnight funds.

In Australia, interest rates decisions are taken by the Reserve Bank of Australia's Board. The official interest rate is the cash rate. The cash rate is the rate charged on overnight loans between financial intermediaries, is determined in the money market as a result of the interaction of demand for and supply of overnight funds.

In the United States, the authority to set interest rates is divided between the Board of Governors of the Federal Reserve (Board) and the Federal Open Market Committee (FOMC). The Board decides on changes in discount rates after recommendations submitted by one or more of the regional Federal Reserve Banks. The FOMC decides on open market operations, including the desired levels of central bank money or the desired federal funds market rate.

The preliminary estimate of the ADP National Employment Report reflects weekly changes in private employment and includes a four-week moving average of total private employment variation.

The S&P Cotality Case-Shiller 20-City Composite Home Price Index measures changes in residential house prices in 20 metropolitan regions in the United States: Atlanta, Boston, Charlotte, Chicago, Cleveland, Dallas, Denver, Detroit, Las Vegas, Los Angeles, Miami, Minneapolis, New York, Phoenix, Portland, San Diego, San Francisco, Seattle, Tampa and Washington D.C.

A sale of the new house occurs with the signing of a sales contract or the acceptance of a deposit. The house can be in any stage of construction: not yet started, under construction, or already completed. New home sales account for about 10 percent of the US housing market. New single-family home sales are extremely volatile month-to-month and preliminary figures are subject to large revisions because they are mostly drawn from building permits data.

A sale of the new house occurs with the signing of a sales contract or the acceptance of a deposit. The house can be in any stage of construction: not yet started, under construction, or already completed. New home sales account for about 10 percent of the US housing market. New single-family home sales are extremely volatile month-to-month and preliminary figures are subject to large revisions because they are mostly drawn from building permits data.

In the United States, the authority to set interest rates is divided between the Board of Governors of the Federal Reserve (Board) and the Federal Open Market Committee (FOMC). The Board decides on changes in discount rates after recommendations submitted by one or more of the regional Federal Reserve Banks. The FOMC decides on open market operations, including the desired levels of central bank money or the desired federal funds market rate.

Stocks of crude oil refer to the weekly change of the crude oil supply situation.

In South Korea, the Business Survey Index (BSI) in the manufacturing sector measures the level of optimism that business leaders have about the performance of the economy in the current month and their outlook for the following month. The Index is based on the survey of around 2800 companies in fifteen areas including sales, inventories, production facilities, prices, labor force and profitability. For each of the indicators measured, the net difference between the number of positive responses and the number of negative responses is computed. The BSI above 100 indicates an improving outlook and below 100 a deteriorating outlook.

In Australia, construction output refers to the quarter-over-quarter change in the value of construction work done, including building and engineering for both the private and public sectors.

Inflation Rate MoM measures month over month change in the price of goods and services.

In Australia, the most important categories in the consumer price index are housing (23 percent of the total weight), food and non–alcoholic beverages (17 percent), transport (11 percent), furnishings, household equipment and services (9 percent), alcohol and tobacco (9 percent), recreation and culture (9 percent), health (7 percent) and insurance and financial services (6 percent). Clothing and footwear, education and communication account for remaining 10 percent of total weight.

In Australia, the trimmed mean CPI is the weighted average of the central 70% of price changes in the Consumer Price Index (CPI) basket, after excluding the 15% of items with the largest increases and decreases. By removing extreme price movements, this measure provides a clearer view of underlying inflation trends in the Australian economy.

In Australia, the trimmed mean CPI is the weighted average of the central 70% of price changes in the Consumer Price Index (CPI) basket, after excluding the 15% of items with the largest increases and decreases. By removing extreme price movements, this measure provides a clearer view of underlying inflation trends in the Australian economy.

The Confederation of British Industry's (CBI) monthly retail sales balance is a gauge of retail sales versus a year ago. The reading is compiled from a survey of about 150 retail and wholesale companies. It includes measures of sales activity across the distributive trades. It is a leading indicator of consumer spending. The figure is the difference between the percentage of retailers reporting an increase in sales and those reporting a decrease.

MBA 30-Year Mortgage Rate is average 30-year fixed mortgage lending rate measured during the reported week and backed by the Mortgage Bankers Association.

Personal consumption expenditures (PCE) is the primary measure of consumer spending on goods and services in the U.S. economy. 1 It accounts for about two-thirds of domestic final spending, and thus it is the primary engine that drives future economic growth. PCE shows how much of the income earned by households is being spent on current consumption as opposed to how much is being saved for future consumption. PCE also provides a comprehensive measure of types of goods and services that are purchased by households. Thus, for example, it shows the portion of spending that is accounted for by discretionary items, such as motor vehicles, or the adjustments that consumers make to changes in prices, such as a sharp run-up in gasoline prices.

Corporate profits represents the portion of the total income earned from current production that is accounted for by U.S. corporations. It is one of the most closely watched U.S. economic indicators, as it provides a summary measure of corporate financial health and thus serves as an essential indicator of economic performance.

Personal Income refers to the income that persons receive in return for their provision of labor, land, and capital used in current production, plus current transfer receipts less contributions for government social insurance.

In the United States, the Personal Consumption Expenditure Price Index provides a measure of the prices paid for domestic purchases of goods and services. While the Consumer Price Index assumes a fixed basket of goods and uses expenditure weights that do not change over time for several years, the Personal Consumption Expenditure Price Index uses a chain index and resorts on expenditure data from the current period and the preceding period (known as Fisher Price Index).

Durable Goods Orders Excluding Transportation refer to new orders placed with manufacturers for delivery of hard goods in the future excluding transportation orders.

Durable Goods Orders refer to new orders placed with manufacturers for delivery of hard goods which meant to last at least three years.

The GDP Deflator measures the change in prices of final goods and services and it is considered as a key indicator for inflationary pressures, that provides insight into the future direction of monetary policy.

In the United States, the Personal Consumption Expenditure Price Index provides a measure of the prices paid for domestic purchases of goods and services. While the Consumer Price Index assumes a fixed basket of goods and uses expenditure weights that do not change over time for several years, the Personal Consumption Expenditure Price Index uses a chain index and resorts on expenditure data from the current period and the preceding period (known as Fisher Price Index).

On the expenditure side, personal consumption expenditures accounts for 68 percent of total GDP out of which purchases of goods constitute 23 percent and services 45 percent. Private investment accounts for 16 percent of GDP and government consumption and investment for 18 percent. As the value of goods exported (13.5 percent) is lower than the value of goods imported (16.5 percent), net exports subtracts 3 percent from the total GDP value.

Stocks of crude oil refer to the weekly change of the crude oil supply situation.

Stocks of gasoline refers to the weekly change of the gasoline supply situation.

In the United States, the authority to set interest rates is divided between the Board of Governors of the Federal Reserve (Board) and the Federal Open Market Committee (FOMC). The Board decides on changes in discount rates after recommendations submitted by one or more of the regional Federal Reserve Banks. The FOMC decides on open market operations, including the desired levels of central bank money or the desired federal funds market rate.

In Switzerland, interest rate decisions are taken by the Swiss National Bank. The official interest rate is the SNB policy rate. The SNB seeks to keep the secured short-term Swiss franc money market rates close to the SNB policy rate. SARON is the most representative of these rates today. As of 13 June 2019, the SNB policy rate replaced the target range for the three-month Swiss franc Libor (London Interbank Offered Rate) previously used in the SNB's monetary policy strategy. The reason for this adjustment was that the Libor was becoming less relevant as the most important reference rate owing to the absence of the underlying money market transactions. From 6 September 2011 to 15 January 2015, the main focus of implementation was on the minimum exchange rate of CHF 1.20 per euro, which the SNB enforced during this period. On 18 December 2014, the SNB decided to impose an interest rate of -0.25% on sight deposit account balances. With the announcement of a negative interest rate, the Libor target range used then was taken into negative territory for the first time, and extended to its usual width of 1 percentage point. On 15 January 2015, the SNB lowered the interest rate on sight deposits to -0.75% and moved the target range downwards to between -1.25% and -0.25%. Negative interest has applied since 22 January 2015 and currently corresponds to the SNB policy rate.

In the United States, the authority to set interest rates is divided between the Board of Governors of the Federal Reserve (Board) and the Federal Open Market Committee (FOMC). The Board decides on changes in discount rates after recommendations submitted by one or more of the regional Federal Reserve Banks. The FOMC decides on open market operations, including the desired levels of central bank money or the desired federal funds market rate.

In South Korea the interest rates decisions are taken by the Bank of Korea’s (BOK) Monetary Policy Committee. The official interest rate is the Bank of Korea Base Rate which was changed from overnight call rate on March 2008.

In Australia, interest rates decisions are taken by the Reserve Bank of Australia's Board. The official interest rate is the cash rate. The cash rate is the rate charged on overnight loans between financial intermediaries, is determined in the money market as a result of the interaction of demand for and supply of overnight funds.

In Japan, interest rates are set by the Bank of Japan's Policy Board in its Monetary Policy Meetings. The BoJ's official interest rate is the discount rate. Monetary Policy Meetings produce a guideline for money market operations in inter-meeting periods and this guideline is written in terms of a target for the uncollateralized overnight call rate.

In the Euro Area, benchmark interest rate is set by the Governing Council of the European Central Bank. The primary objective of the ECB’s monetary policy is to maintain price stability which is to keep inflation below, but close to 2 percent over the medium term. In times of prolonged low inflation and low interest rates, ECB may also adopt non-standard monetary policy measures, such as asset purchase programmes. The official interest rate is the Main refinancing operations rate.

Mexico's main exports are manufactured products (88 percent of total shipments) , followed by oil and oil products (7 percent), the agricultural sector with (4 percent). Main imports are: metallic products, machinery and equipment (59 percent of total purchases), oil products (12 percent) and agricultural goods (3 percent). The country's top trading partner is the United States (72 percent of total exports and 38 percent of total imports). Others include: China, Japan and Germany. In 2022, trade between Mexico and the United States reached USD 738 billion, with Mexico posting a surplus of near USD 208 billion.

In Brazil, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

Initial jobless claims refer to the number of people who have filed for unemployment benefits with their state's unemployment agency for the first time during a specific reporting period, typically on a weekly basis. .

The United States has run uninterrupted trade deficits since 1976, driven largely by robust demand for imported industrial inputs, capital goods and consumer products. In 2025, trade flows were notably influenced by the introduction of new tariffs. Imports surged to record levels in the first half of the year as firms rushed to secure goods before higher duties took effect. Later in the year, however, import growth slowed considerably, indicating that tariffs were starting to dampen demand. For the year as a whole, the US recorded a goods trade deficit of just above $1.2 trillion, little changed from 2024 but still among the largest gaps seen since 1960. The biggest bilateral deficits were with the European Union ($218.8 billion), especially Ireland and Germany, followed by China ($202.1 billion), Mexico ($196.9 billion), Vietnam ($178.2 billion), Taiwan ($146.8 billion), Thailand ($71.9 billion), Japan ($63.9 billion), India ($58.2 billion), South Korea ($56.4 billion), Canada ($46.4 billion), Switzerland ($34.3 billion) and Malaysia ($30.8 billion).

The Wholesale Inventories are the stock of unsold goods held by wholesalers. Inventories are a key component of gross domestic product changes. A high inventory points to economic slowdown in the US, while a low reading points to a stronger growth.

Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).

In Japan, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

In the United States, the authority to set interest rates is divided between the Board of Governors of the Federal Reserve (Board) and the Federal Open Market Committee (FOMC). The Board decides on changes in discount rates after recommendations submitted by one or more of the regional Federal Reserve Banks. The FOMC decides on open market operations, including the desired levels of central bank money or the desired federal funds market rate.

In Japan, housing starts refers to the year-on-year change in volume of new housing construction started.

In Japan, the Monthly Consumer Confidence survey data is collected by direct visit and covers about 4,700 households consisting of more than two persons. The questionnaire covers four subjects: consumer perceptions of overall livelihood, income growth, employment and willingness to buy durable goods. For each subject an index based on the respondents’ evaluation of what they consider the prospects to be over the next six months is created. The Consumer Confidence Index is the simple average of the four consumer perception indexes. A score above 50 indicates optimism, below 50 shows lack of confidence and 50 indicates neutrality.

The Nationwide house price index is an indicator of trends in UK house prices. The index is calculated based on owner occupier house purchase transactions involving a mortgage. Buy to let and cash purchases are not included.

The Nationwide house price index is an indicator of trends in UK house prices. The index is calculated based on owner occupier house purchase transactions involving a mortgage. Buy to let and cash purchases are not included.

In Switzerland, the KOF Swiss Economic Institute economic barometer measures the level of optimism that people who run companies have about the performance of the economy and how they feel about their organizations’ prospects. The KOF economic barometer is based on a multi-sectoral design with three modules. The 2014 version comprises 219 indicator variables, which are combined based on statistically determined weights. The most important module is GDP, which excludes construction and banking sectors and accounts for more than 90% of Swiss GDP.

In the Euro Area, the Economic sentiment indicator is a composite measure (average=100) that calculates the confidence level among: manufacturers (40 percent of the index); service providers (30 percent); consumers (20 percent); retailers (5 percent) and constructors (5 percent).

In India, industrial production measures the output of businesses integrated in industrial sector of the economy. Manufacturing is the most important sector and accounts for 78 percent of total production. The biggest segments within Manufacturing are: basic metals (13 percent of total production); coke and refined petroleum products (12 percent); chemicals and chemical products (8 percent); food products (5 percent); pharmaceuticals, medicinal chemical and botanical products (5 percent); motor vehicles, trailers and semi-trailers (5 percent); machinery and equipment n.e.c. (5 percent); other non-metallic mineral products (4 percent); and textiles, electrical equipment and fabricated metal products (3 percent each). Mining accounts for 14 percent of total output; and electricity accounts for 8 percent.

Manufacturing production measures the output of businesses operating in the manufacturing sector. In India, manufacturing accounts for 78 percent of total industrial output. The biggest segments are: basic metals (13 percent of total production); coke and refined petroleum products (12 percent); chemicals and chemical products (8 percent); food products (5 percent); pharmaceuticals, medicinal chemical and botanical products (5 percent); motor vehicles, trailers and semi-trailers (5 percent); machinery and equipment n.e.c. (5 percent); other non-metallic mineral products (4 percent); and textiles, electrical equipment and fabricated metal products (3 percent each).

GDP Annualized Growth Rate shows the gdp growth that would be registered if the quarter-on-quarter rate of change were maintained for a full year. On the expenditure side, household consumption is the main component of GDP and accounts for 58 percent of its total use, followed by gross fixed capital formation (22 percent) and government expenditure (19 percent). Exports of goods and services account for 32 percent of GDP while imports account for 33 percent, subtracting 1 percent of total GDP. Non-profit institutions serving households' final consumption expenditure and investment in inventories account for the remaining 2 percent.

In Canada, Monthly GDP MoM measures the change in the value of the goods and services produced by the country's economy compared to the previous month.

In Canada, Monthly GDP MoM measures the change in the value of the goods and services produced by the country's economy compared to the previous month.

Canada's economy is diversified and highly developed. Foreign trade is responsible for about 45 percent of the nation's GDP and the United States is by far the largest trade partner. On the expenditure side, household consumption is the main component of GDP and accounts for 58 percent of its total use, followed by gross fixed capital formation (22 percent) and government expenditure (19 percent). Exports of goods and services account for 32 percent of GDP while imports account for 33 percent, subtracting 1 percent of total GDP. Non-profit institutions serving households' final consumption expenditure and investment in inventories account for the remaining 2 percent.

The Chicago PMI (ISM-Chicago Business Barometer) measures the performance of the manufacturing and non-manufacturing sector in the Chicago region. The Index is computed from five weighted raw indexes: Production (0.25), New Orders (0.35), Order Backlog (0.15), Employment (0.10), and Supplier Deliveries (0.15) and then seasonally adjusted to support month-to-month comparisons. A reading above 50 indicates an expansion; below 50 represents a contraction; while 50 indicates no change. Chicago PMI is released one day before the ISM Manufacturing Index.

The Index of Consumer Expectations focuses on three areas: how consumers view prospects for their own financial situation, how they view prospects for the general economy over the near term, and their view of prospects for the economy over the long term. Each monthly survey contains approximately 50 core questions, each of which tracks a different aspect of consumer attitudes and expectations. The samples for the Surveys of Consumers are statistically designed to be representative of all American households, excluding those in Alaska and Hawaii. Each month, a minimum of 500 interviews are conducted by telephone.

Nonfarm payrolls is an employment report released monthly, usually on the first Friday of every month, and heavily affects the US dollar, the bond market and the stock market. Current Employment Statistics (CES) program from the U.S. Department of Labor Bureau of Labor Statistics, surveys about 141,000 businesses and government agencies, representing approximately 486,000 individual work sites, in order to provide detailed industry data on employment, hours, and earnings of workers on nonfarm payrolls.

In the United States, the authority to set interest rates is divided between the Board of Governors of the Federal Reserve (Board) and the Federal Open Market Committee (FOMC). The Board decides on changes in discount rates after recommendations submitted by one or more of the regional Federal Reserve Banks. The FOMC decides on open market operations, including the desired levels of central bank money or the desired federal funds market rate.

In the United States, the authority to set interest rates is divided between the Board of Governors of the Federal Reserve (Board) and the Federal Open Market Committee (FOMC). The Board decides on changes in discount rates after recommendations submitted by one or more of the regional Federal Reserve Banks. The FOMC decides on open market operations, including the desired levels of central bank money or the desired federal funds market rate.

In Japan, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities.

In Japan, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.

In New Zealand, the business confidence index is designed to provide a snapshot of business opinions regarding the expected future state of their business and economy overall. The survey covers around 700 respondents. The Net index is calculated by subtracting the percentage number of businesses that expect that the economic situation improves from the number that expect decline.

In China, the Non-Manufacturing purchasing managers index survey is based on data collected from a representative panel of 1200 enterprises from the non-manufacturing sector. The survey includes ten questions on business activity, new orders, new export orders, in hand orders index, stock, intermediate input price, subscription price, employment, supplier delivery time, and business activities expectation. For each question, the diffusion index is calculated. As there’s no integrated PMI, the business activity index is usually used to reflect the overall changes in non-manufacturing sector. A PMI reading above 50 percent indicates expansion from the previous month, while below 50 indicates contraction.

The RatingDog China General Manufacturing PMI, compiled by S&P Global, is based on monthly surveys of around 650 manufacturers across sectors and company sizes, weighted by GDP contribution. Conducted in the second half of each month, the survey tracks changes from the prior month using a diffusion index, where readings above 50 signal improvement and below 50 signal deterioration. The headline PMI is a weighted average of five components: New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%, inverted), and Stocks of Purchases (10%). Results are seasonally adjusted, with only adjustment factors subject to revision, not the original survey data. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

In Australia, corporate profits refers to the net operating profit or loss before income tax and extraordinary items and is net of capital profits or losses arising from the sale of businesses' own capital goods and dividends received.

The most important and the fastest growing sector of Indian economy are services. Trade, hotels, transport and communication; financing, insurance, real estate and business services and community, social and personal services account for more than 60 percent of GDP. Agriculture, forestry and fishing constitute around 12 percent of the output, but employs more than 50 percent of the labor force. Manufacturing accounts for 15 percent of GDP, construction for another 8 percent and mining, quarrying, electricity, gas and water supply for the remaining 5 percent.

In Brazil, interest rate decisions are taken by The Central Bank of Brazil's Monetary Policy Committee (COPOM). The official interest rate is the Special System of Clearance and Custody rate (SELIC) which is the overnight lending rate.

The Dallas Fed Manufacturing Index measures the performance of manufacturing sector in the state of Texas. The index is derived from a survey of around 100 business executives and tracks variables such as output, employment, orders and prices. A reading above 0 indicates an expansion of the factory activity compared to the previous month; below 0 represents a contraction; while 0 indicates no change. Texas produces around 9.5 percent of manufacturing output in US. The state ranks second behind California in factory production and first as an exporter of manufactured goods.

Capital Spending in Japan refers to a year-on-year change in capital investments of private profit-making corporations with capital of 10 million yen or over. The survey includes all industries except finance and insurance.

The IHS Markit South Korea Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 400 manufacturing companies. The Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

In Australia, Dwelling Approvals MoM show the monthly change in the number of total dwelling units approved, including building activity carried out on existing buildings.

The RatingDog China General Manufacturing PMI, compiled by S&P Global, is based on monthly surveys of around 650 manufacturers across sectors and company sizes, weighted by GDP contribution. Conducted in the second half of each month, the survey tracks changes from the prior month using a diffusion index, where readings above 50 signal improvement and below 50 signal deterioration. The headline PMI is a weighted average of five components: New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%, inverted), and Stocks of Purchases (10%). Results are seasonally adjusted, with only adjustment factors subject to revision, not the original survey data. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

In Switzerland, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.

In Switzerland, the procure.ch Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey to executives on their procurement expectations for the following month. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.

In the UK, mortgage lending refers to monthly changes of total sterling net secured lending to individuals and housing associations.

Mortgage approvals for house purchase refers to the firm offers of lenders to advance credit secured on specific dwellings to their customers. It covers approvals that are fully secured on residential property by a first mortgage. It includes existing borrowers transferring their existing mortgage to another property, lending to first-time purchasers and lending for buy-to-let purposes.

Consumer credit (excluding student loans) is defined as borrowing by UK individuals to finance current expenditure on goods and/or services excluding loans issued by the Student Loans Company. Consumer credit (excluding student loans) is split into two components; credit card lending and ‘other’ lending (mainly overdrafts and other loans/advances).

In Euro Area, the inflation rate is calculated using the weighted average of the Harmonised Index of Consumer Price (HICP) aggregates. The main components of the HICP are: food, alcohol and tobacco (21 percent of the total weight), energy (11 percent), non-energy industrial goods (27 percent) and services (42 percent). The HICP aggregates are computed as the weighted average of each country’s HICP components. The weight of a country is its share of household final monetary consumption expenditure in the total of the country’s group. The local HICPs are supplied to the Eurostat by the National Statistical Institutes.

Inflation Rate MoM measures month over month change in the price of goods and services.

In Euro Area, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

In Euro Area, the core inflation rate is calculated using the weighted average of the Harmonised Index of Consumer Price (HICP) aggregates, excluding energy, food, alcohol & tobacco that face volatile price movements.

Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).

In Mexico, the Monthly Survey of Business Opinion (EMOE) measures the expectations of business executives regarding production, capacity utilization, employment and inventories, in the short, medium and long run. The survey also trials the expectations concerning the general economic environment and how it may affect business activity. The EMOE has a national coverage and it is measured on a scale of 0 to 100, where levels above 50 indicate optimism, 50 neutrality and below 50 pessimism.

Brazil is the tenth largest economy in the world and the biggest in Latin America. The services sector is the most important and accounts for 63 percent to total GDP. The biggest segments within services are: government, defense, education and health (15 percent of total GDP); other services (15 percent); wholesale and retail trade (11 percent); real estate (8 percent); and financial services (7 percent). Also, industry contributes to 18 percent of GDP, with manufacturing (11 percent) and construction (4 percent) accounting for the largest share. The agriculture and livestock sector accounts 5 percent of GDP. On the expenditure side, household consumption is the main component of GDP and accounts for 63 percent of its total use, followed by government expenditure (20 percent) and gross fixed capital formation (16 percent). Exports of goods and services account for 13 percent of GDP while imports account for 12 percent, adding 1 percent of total GDP.

Brazil is the tenth largest economy in the world and the biggest in Latin America. The services sector is the most important and accounts for 63 percent to total GDP. The biggest segments within services are: government, defense, education and health (15 percent of total GDP); other services (15 percent); wholesale and retail trade (11 percent); real estate (8 percent); and financial services (7 percent). Also, industry contributes to 18 percent of GDP, with manufacturing (11 percent) and construction (4 percent) accounting for the largest share. The agriculture and livestock sector accounts for 5 percent of GDP. On the expenditure side, household consumption is the main component of GDP and accounts for 63 percent of its total use, followed by government expenditure (20 percent) and gross fixed capital formation (16 percent). Exports of goods and services account for 13 percent of GDP while imports account for 12 percent, adding 1 percent of total GDP.

The IHS Markit Canada Manufacturing Purchasing Managers’ Index™ measures the performance of the manufacturing sector. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

The Manufacturing ISM Report On Business is based on data compiled from purchasing and supply executives nationwide. Survey responses reflect the change, if any, in the current month compared to the previous month. For each of the indicators measured (New Orders, Backlog of Orders, New Export Orders, Imports, Production, Supplier Deliveries, Inventories, Customers' Inventories, Employment and Prices), the report shows the percentage reporting each response, the net difference between the number of responses in the positive economic direction and the negative economic direction, and the diffusion index. A PMI reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally declining.

The Manufacturing ISM Report On Business is based on data compiled from purchasing and supply executives nationwide. Survey responses reflect the change, if any, in the current month compared to the previous month. For each of the indicators measured (New Orders, Backlog of Orders, New Export Orders, Imports, Production, Supplier Deliveries, Inventories, Customers' Inventories, Employment and Prices), the report shows the percentage reporting each response, the net difference between the number of responses in the positive economic direction and the negative economic direction, and the diffusion index. A PMI reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally declining.

In the United States, job openings refer to all positions that are open (not filled) on the last business day of the month. Job openings are part of the Job Openings and Labor Turnover Survey (JOLTS). The survey collects data from around 16400 nonfarm establishments including retailers and manufacturers, as well as federal, state, and local government entities in the 50 states and the District of Columbia. The JOLTS assesses the unmet demand for labor in the U.S. labor market and gained attention in 2014 as favorite labor market indicator of Federal Reserve Chair Janet Yellen.

Stocks of crude oil refer to the weekly change of the crude oil supply situation.

The Ai Group Australian Industry Index is a monthly index that measures changes in activity in Australia’s industrial sectors. It provides diffusion indices which measure rates of changes in the level of industrial activity – expansion, stability, or contraction. A positive reading indicates the activity is expanding; negative indicates contraction. The distance from 0 indicates the strength of the expansion or decline.

In South Korea, the most important categories in the Consumer Price Index are: Housing, Water, Electricity, Gas & Other Fuels (17% of the total weight) and Food & Non-alcoholic Beverages (15%). The index also includes: Restaurants & Hotels (13%), Alcoholic Beverages & Tobacco (10%), Education (11%), Health (9%), and Recreation & Culture (6%). The components with the least weights are Miscellaneous Goods & Services at 5.42%, Furnishings, Household Equipment & Routine Maintenance at 5.39%, and Clothing & Footwear at 4.86%.

Australia's economy is dominated by the service sector (65 percent of total GDP). Yet its economic success in recent years has been based on the mining (13.5 percent of GDP) and agriculture (2 percent of GDP) as the country is a major exporter of commodities. Other sectors include: manufacturing (11 percent) and construction (9.5 percent).

Australia's economy is dominated by the service sector (65 percent of total GDP). Yet its economic success in recent years has been based on the mining (13.5 percent of GDP) and agriculture (2 percent of GDP) as the country is a major exporter of commodities. Other sectors include: manufacturing (11 percent) and construction (9.5 percent).

In Japan, interest rates are set by the Bank of Japan's Policy Board in its Monetary Policy Meetings. The BoJ's official interest rate is the discount rate. Monetary Policy Meetings produce a guideline for money market operations in inter-meeting periods and this guideline is written in terms of a target for the uncollateralized overnight call rate.

In New Zealand, interest rates decisions are taken by the Reserve Bank of New Zealand. The official interest rate is the Official Cash Rate (OCR). The OCR was introduced in March 1999 and is reviewed eight times a year by the Bank. The OCR influences the price of borrowing money in New Zealand and provides the Reserve Bank with a means of influencing the level of economic activity and inflation.

In New Zealand, interest rates decisions are taken by the Reserve Bank of New Zealand. The official interest rate is the Official Cash Rate (OCR). The OCR was introduced in March 1999 and is reviewed eight times a year by the Bank. The OCR influences the price of borrowing money in New Zealand and provides the Reserve Bank with a means of influencing the level of economic activity and inflation.

MBA 30-Year Mortgage Rate is average 30-year fixed mortgage lending rate measured during the reported week and backed by the Mortgage Bankers Association.

In Brazil, industrial production measures the output of businesses integrated in industrial sector of the economy, such as manufacturing, mining, and utilities.

The ADP National Employment Report tracks monthly changes in US private-sector employment. It is based on aggregated and anonymized payroll data from over 26 million employees and is produced by the ADP Research Institute in collaboration with the Stanford Digital Economy Lab, providing a timely and independent snapshot of labor market trends.

In Canada, benchmark interest rate is set by the Bank of Canada's (BoC) Governing Council. The official interest rate is the Overnight Rate. Since 1996 the Bank Rate is set at the upper limit of an operating band for the money market overnight rate. Previously, from March 1980 until February 1996 the Bank Rate was set at 25 basis points above the weekly average tender rate for 3-month Treasury bills.

Factory orders report is compiled from results of "Manufacturers’ Shipments, Inventories, and Orders (M3) survey" and shows the value of new factory orders for both durable (50% of total orders) and non-durable goods. The survey is usually released a week after durable goods orders report. .

In Canada, benchmark interest rate is set by the Bank of Canada's (BoC) Governing Council. The official interest rate is the Overnight Rate. Since 1996 the Bank Rate is set at the upper limit of an operating band for the money market overnight rate. Previously, from March 1980 until February 1996 the Bank Rate was set at 25 basis points above the weekly average tender rate for 3-month Treasury bills.

Stocks of crude oil refer to the weekly change of the crude oil supply situation.

Stocks of gasoline refers to the weekly change of the gasoline supply situation.

Australia has been recording consistent trade surpluses since 2017 due to rise in a resource exports like natural gas, metal ores and minerals, coal, coke and briquettes, and rural goods such as meat and cereals. The biggest trade surpluses are recorded with China, Hong Kong and Japan, and New Zealand while the biggest trade deficits are with the United States, Singapore, South Korea, Malaysia, and Thailand.

The RatingDog China General Services PMI, compiled by S&P Global, surveys around 650 service-sector companies across areas such as consumer services (excluding retail), transport, finance, insurance, real estate, and business services. Responses, collected monthly since November 2005, measure changes in activity compared with the previous month. A diffusion index is calculated, ranging from 0 to 100, with readings above 50 indicating growth. The headline figure, the Services Business Activity Index, tracks monthly changes in business activity and is comparable to the Manufacturing Output Index, though not directly to the headline manufacturing PMI. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

In Switzerland, the most important categories in the Consumer Price Index are: Housing & Energy (27%) and Healthcare (17%). Food & Non-alcoholic Beverages account for 13%; Transport for 11%; Recreation & Culture for 7%; Miscellaneous Goods & Services for 6%; Restaurants & Hotels for 6%. The index also includes: Households Goods & Services (5%), Alcoholic Beverages & Tobacco (3%), Communications (3%), Clothing & Footwear (3%), and Education (1%).

Switzerland’s is one of the wealthiest countries in the world. Key areas of the economy include micro-technology, hi-tech, biotechnology and pharmaceuticals, as well as banking and insurance know-how.

In Mexico, the Consumer Confidence Index (ICC) measures the current perception and future expectations that people have about their economic situation, their family and the country in general, in respect to the purchase of consumption durables and non-durables, as well as employment, inflation and savings. The index is based on a sample of 2336 households located in the 32 major cities of the country. The ICC has a base of 100 as of January of 2003, levels above 50 indicate optimism, 50 neutrality, and below 50 pessimism.

The United States is the world’s largest importer, reflecting the size and consumption strength of its economy. In 2025, US import patterns were significantly influenced by the introduction of new tariffs, which reshaped global trade flows. Still, the full effects of these measures may take time to appear in official data, as front-loaded purchases, customs processing lags, shipping delays and broader supply-chain adjustments can temporarily distort trade figures. Total US imports reached a record high of just over $4.3 trillion in 2025. Machinery and transport equipment accounted for the largest share, particularly office machines and road vehicles. These were followed by chemicals and related products, mineral fuels and lubricants, and other manufactured goods. Among major trading partners, imports from China fell by nearly 30% compared with 2024, representing about 9% of total US imports. Other key suppliers included the European Union, especially Ireland and Germany, as well as Mexico, Canada, Switzerland, Taiwan, Japan, South Korea, Vietnam and India.

The United States has recorded persistent trade deficits since 1976, largely reflecting strong demand for imported industrial supplies, capital equipment and consumer goods. In 2025, trade dynamics were significantly shaped by the rollout of new tariffs. Imports climbed to record highs in the first half of the year as businesses accelerated purchases ahead of higher duties. However, import growth slowed sharply toward year-end, suggesting that tariffs were beginning to curb demand. Overall, the US posted a trade deficit of nearly $900 billion in 2025, broadly unchanged from the previous year but still among the largest shortfalls since 1960. The widest bilateral goods deficits were with the European Union ($218.8 billion), particularly Ireland and Germany, followed by China ($202.1 billion), Mexico ($196.9 billion), Vietnam ($178.2 billion), Taiwan ($146.8 billion), Thailand ($71.9 billion), Japan ($63.9 billion), India ($58.2 billion), South Korea ($56.4 billion), Canada ($46.4 billion), Switzerland ($34.3 billion) and Malaysia ($30.8 billion).

Initial jobless claims refer to the number of people who have filed for unemployment benefits with their state's unemployment agency for the first time during a specific reporting period, typically on a weekly basis. .

The United States is the world’s second-largest exporter, yet exports of goods and services account for only about 12–13% of US GDP. In 2025, global trade flows were reshaped by the introduction of new US tariffs and retaliatory measures from trade partners. The full impact of these policies may take time to appear in official trade data, as advance buying, customs delays, shipping disruptions, and broader supply-chain adjustments can temporarily distort reported flows. US exports reached a record high of just over $3.4 trillion in 2025. Machinery and transport equipment, particularly aircraft and road vehicles, accounted for the largest share, followed by mineral fuels and lubricants, chemicals and related products, and other manufactured goods. Exports of services also increased, supported by intellectual property, financial services, and other business-related services. The US’ largest export markets included the European Union (notably the Netherlands and the UK), Canada, Mexico, China, Japan, and South Korea.

Between 1980 and 2008, Canada recorded a positive trade balance every year, with an expectation of 1991 and 1992. From 2009 onwards, the trade balance shifted to a deficit. In 2021, it switched again to a trade surplus, with energy products making the largest share of exports. The United States remains the country's biggest trading partner.

The Markit Brazil Services PMI is based on data compiled from monthly replies to questionnaires sent to purchasing executives in around 350 private service sector companies. The Index tracks variables such as sales, employment, inventories and prices. An index reading above 50 indicates an overall increase in that variable, below 50 an overall decrease. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

The Non-Manufacturing ISM Report On Business® is based on data compiled from purchasing and supply executives nationwide. Survey responses reflect the change, if any, in the current month compared to the previous month. For each of the indicators measured (Business Activity, New Orders, Backlog of Orders, New Export Orders, Inventory Change, Inventory Sentiment, Imports, Prices, Employment and Supplier Deliveries) this report shows the percentage reporting each response, and the diffusion index. An index reading above 50 percent indicates that the non-manufacturing economy in that index is generally expanding; below 50 percent indicates that it is generally declining. Orders to the service producers make up about 90 percent of the US economy.

In Japan, Household Spending MoM refers to the monthly change of consumption expenditures (on food, housing, utilities, furniture, clothing, health, education, transport, communication, leisure activities, etc.) in real terms for two-or-more-person households including agricultural, forestry and fisheries households.

In Japan, Household Spending YoY refers to the annual change of consumption expenditures (on food, housing, utilities, furniture, clothing, health, education, transport, communication, leisure activities, etc.) in real terms for two-or-more-person households including agricultural, forestry and fisheries households.