The Economist - USA (2020-05-16)

Economic data

Gross domestic product Consumer prices Unemployment Current-account Budget Interest rates Currency units

% change on year ago % change on year ago rate balance balance 10-yr gov't bonds change on per $ % change

latest quarter* 2020† latest 2020† % % of GDP, 2020† % of GDP, 2020† latest,% year ago, bp May 13th on year ago

United States 0.3 Q1 -4.8 -3.8 0.3 Apr 0.6 14.7 Apr -1.9 -14.0 0.6 -176 -

China -6.8 Q1 -33.8 1.0 3.3 Apr 4.6 3.7 Q1§ 0.8 -5.5 2.0 §§ -115 7.09 -3.1

Japan -0.7 Q4 -7.1 -5.2 0.4 Mar -0.1 2.5 Mar 3.4 -6.9 nil -8.0 107 1.9

Britain -1.6 Q1 -7.7 -8.7 1.5 Mar 1.0 4.0 Jan†† -2.1 -14.1 0.3 -95.0 0.82 -6.1

Canada 1.5 Q4 0.3 -4.3 0.9 Mar 0.7 13.0 Apr -3.9 -7.2 0.6 -112 1.41 -5.0

Euro area -3.3 Q1 -14.4 -6.0 0.4 Apr 0.3 7.4 Mar 1.6 -5.9 -0.5 -45.0 0.92 -3.3

Austria 1.0 Q4 1.1 -6.0 1.6 Mar 0.4 4.5 Mar 0.1 -5.5 -0.1 -37.0 0.92 -3.3

Belgium -2.8 Q1 -14.7 -7.9 0.6 Apr 0.8 5.3 Mar -1.4 -7.7 nil -42.0 0.92 -3.3

France -5.4 Q1 -21.4 -8.8 0.4 Apr 0.4 8.4 Mar -0.8 -9.9 nil -35.0 0.92 -3.3

Germany 0.5 Q4 0.1 -6.1 0.8 Apr 0.8 3.5 Mar 4.7 -6.1 -0.5 -45.0 0.92 -3.3

Greece 0.5 Q4 -2.7 -6.0 -1.4 Apr -0.4 16.1 Feb -2.9 -5.2 2.1 -147 0.92 -3.3

Italy -4.8 Q1 -17.7 -7.0 nil Apr -0.2 8.4 Mar 1.3 -7.0 1.8 -89.0 0.92 -3.3

Netherlands 1.6 Q4 1.6 -7.0 1.2 Apr 0.5 3.8 Mar 4.5 -5.0 -0.3 -46.0 0.92 -3.3

Spain -4.1 Q1 -19.4 -6.0 -0.7 Apr -0.5 14.5 Mar 0.8 -7.3 0.8 -13.0 0.92 -3.3

Czech Republic 1.8 Q4 1.9 -5.9 3.2 Apr 1.5 2.0 Mar‡ -0.9 -4.2 0.7 -111 25.4 -9.7

Denmark 2.2 Q4 2.3 -4.5 nil Apr 0.4 4.1 Mar 5.3 -6.0 -0.3 -32.0 6.88 -3.5

Norway 1.1 Q1 -6.0 -6.0 0.8 Apr 0.2 3.5 Feb‡‡ 1.2 -2.5 0.4 -128 10.1 -13.7

Poland 3.3 Q4 1.2 -2.9 3.4 Apr 3.0 5.7 Apr§ -0.8 -4.4 1.3 -152 4.22 -9.2

Russia 2.1 Q4 na -5.2 3.1 Apr 4.2 4.7 Mar§ 1.7 -3.1 6.0 -228 73.7 -11.3

Sweden 0.5 Q1 -1.2 -3.7 -0.4 Apr 0.7 7.1 Mar§ 2.9 -3.1 nil -25.0 9.79 -1.7

Switzerland 1.5 Q4 1.3 -4.2 -1.1 Apr -0.4 3.3 Apr 6.5 -4.0 -0.5 -23.0 0.97 4.1

Turkey 6.0 Q4 na -5.4 10.9 Apr 11.4 13.6 Feb§ -1.9 -6.3 12.8 -809 6.98 -12.9

Australia 2.2 Q4 2.1 -4.2 2.2 Q1 1.6 6.2 Apr -2.5 -6.8 1.0 -77.0 1.54 -6.5

Hong Kong -2.9 Q4 -1.3 -2.3 2.3 Mar 1.2 4.2 Mar‡‡ 1.5 -3.6 0.6 -106 7.75 1.3

India 4.7 Q4 4.9 0.3 5.8 Mar 3.4 23.5 Apr -0.4 -6.1 6.1 -129 75.5 -6.5

Indonesia 3.0 Q1 na 1.0 2.7 Apr 1.3 5.0 Q1§ -1.5 -5.4 7.8 -19.0 14,885 -3.1

Malaysia 0.7 Q1 na -1.0 -0.2 Mar 0.4 3.9 Mar§ 2.4 -6.1 2.9 -92.0 4.33 -3.9

Pakistan 3.3 2019** na -1.6 8.5 Apr 7.4 5.8 2018 -1.6 -10.2 8.3 ††† -515 161 -12.3

Philippines -0.2 Q1 -18.9 -0.1 2.2 Apr 1.5 5.3 Q1§ -0.7 -7.5 3.4 -243 50.3 3.7

Singapore -2.2 Q1 -10.6 -6.0 nil Mar 0.4 2.4 Q1 19.3 -7.5 0.8 -134 1.42 -3.5

South Korea 1.3 Q1 -5.5 -1.8 0.1 Apr 0.5 4.2 Apr§ 6.1 -4.3 1.4 -48.0 1,224 -3.0

Taiwan 1.5 Q1 -5.9 -1.9 -1.0 Apr -1.0 3.8 Mar 12.0 -5.3 0.5 -25.0 29.9 3.9

Thailand 1.6 Q4 1.0 -5.6 -3.0 Apr 0.2 1.0 Mar§ 3.4 -6.6 1.0 -107 32.1 -1.3

Argentina -1.1 Q4 -3.9 -9.0 48.4 Mar‡ 45.2 8.9 Q4§ -0.3 -6.1 na -464 67.5 -32.6

Brazil 1.7 Q4 2.0 -5.5 2.4 Apr 3.7 12.2 Mar§‡‡ -2.3 -12.0 2.6 -431 5.92 -32.6

Chile -2.1 Q4 -15.5 -4.8 3.4 Apr 3.4 8.2 Mar§‡‡ -5.4 -10.5 2.6 -131 820 -15.4

Colombia 3.4 Q4 1.9 -2.7 3.5 Apr 1.9 12.6 Mar§ -5.1 -5.4 5.9 -60.0 3,906 -15.6

Mexico -1.6 Q1 -6.2 -9.5 2.1 Apr 2.8 3.3 Mar -2.3 -4.7 6.0 -218 24.3 -21.0

Peru 1.8 Q4 0.6 -3.6 1.7 Apr 1.5 7.6 Mar§ -2.6 -12.7 3.9 -129 3.43 -2.9

Egypt 5.6 Q4 na 1.4 5.9 Apr 5.2 8.0 Q4§ -4.0 -11.1 na nil 15.8 8.4

Israel 3.8 Q4 4.6 -3.2 nil Mar -1.1 3.4 Mar 2.3 -11.5 0.8 -112 3.53 1.1

Saudi Arabia 0.3 2019 na -4.1 1.4 Mar 0.6 5.7 Q4 -7.4 -12.8 na nil 3.76 -0.3

South Africa -0.5 Q4 -1.4 -4.0 4.1 Mar 4.0 29.1 Q4§ -2.5 -10.3 9.4 90.0 18.5 -22.5

Source: Haver Analytics. *% change on previous quarter, annual rate. †The Economist Intelligence Unit estimate/forecast. §Not seasonally adjusted. ‡New series. **Year ending June. ††Latest 3 months. ‡‡3-month moving

average. §§5-year yield. †††Dollar-denominated bonds.

80 The EconomistMay 16th 2020

Commodities

TheEconomist commodity-price index % change on

2015=100 May 5th May 12th* month year

DollarIndex

AllItems 102.7 105.7 2.7 -3.8

Food 94.4 94.6 2.6 4.6

Industrials

All 110.5 116.0 2.8 -9.4

Non-foodagriculturals 86.1 86.3 -0.3 -19.0

Metals 117.7 124.9 3.4 -7.1

SterlingIndex

Allitems 125.9 130.8 4.9 0.7

EuroIndex

Allitems 105.1 107.8 3.6 -0.9

Gold

$ peroz 1,698.9 1,709.0 -1.3 31.8

Brent

$ perbarrel 31.1 30.1 1.2 -57.9

Sources:Bloomberg; CME Group; Cotlook; Datastream from Refinitiv;

Fastmarkets;FT; ICCO; ICO; ISO; Live Rice Index; LME; NZ Wool

Services;Thompson Lloyd & Ewart; Urner Barry; WSJ. *Provisional.

Markets

% change on: % change on:

Index one Dec 31st index one Dec 31st

In local currency May 13th week 2019 May 13th week 2019

United States S&P 500 2,820.0 -1.0 -12.7

United States NAScomp 8,863.2 0.1 -1.2

China Shanghai Comp 2,898.1 0.7 -5.0

China Shenzhen Comp 1,822.9 1.8 5.8

Japan Nikkei 225 20,267.1 3.3 -14.3

Japan Topix 1,474.7 3.0 -14.3

Britain FTSE 100 5,904.1 0.9 -21.7

Canada S&P TSX 14,503.2 -2.2 -15.0

Euro area EURO STOXX 50 2,810.5 -1.2 -25.0

France CAC 40 4,345.0 -2.0 -27.3

Germany DAX* 10,542.7 -0.6 -20.4

Italy FTSE/MIB 17,183.4 0.1 -26.9

Netherlands AEX 512.2 1.3 -15.3

Spain IBEX 35 6,631.4 -0.6 -30.6

Poland WIG 45,431.7 2.5 -21.4

Russia RTS, $ terms 1,110.4 -0.1 -28.3

Switzerland SMI 9,631.6 0.6 -9.3

Tu r ke y BIST 100,159.1 1.6 -12.5

Australia All Ord. 5,513.7 0.9 -18.9

Hong Kong Hang Seng 24,180.3 0.2 -14.2

India BSE 32,008.6 1.0 -22.4

Indonesia IDX 4,554.4 -1.2 -27.7

Malaysia KLSE 1,397.1 1.5 -12.1

Pakistan KSE 33,693.0 -0.1 -17.3

Singapore STI 2,572.0 -0.8 -20.2

South Korea KOSPI 1,940.4 0.6 -11.7

Taiwan TWI 10,938.3 1.5 -8.8

Thailand SET 1,294.6 1.2 -18.1

Argentina MERV 37,842.8 10.8 -9.2

Brazil BVSP 77,772.2 -1.6 -32.7

Mexico IPC 36,394.6 -1.6 -16.4

Egypt EGX 30 10,396.3 1.0 -25.5

Israel TA-125 1,394.6 nil -13.7

Saudi Arabia Tadawul 6,721.2 1.0 -19.9

South Africa JSE AS 50,152.1 0.6 -12.1

World, dev'd MSCI 1,998.5 -0.5 -15.3

Emerging markets MSCI 909.2 1.2 -18.4

US corporate bonds, spread over Treasuries

Dec 31st

Basis points latest 2019

Investment grade 263 141

High-yield 819 449

Sources: Datastream from Refinitiv; Standard & Poor's Global Fixed

Income Research. *Total return index.

Formorecountriesandadditionaldata,visit

Economist.com/indicators

Economic & financial indicators