The Economist - USA (2020-11-21)

80 The EconomistNovember 21st 2020

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 Nov 18th on year ago

United States -2.9 Q3 33.1 -3.8 1.2 Oct 1.2 6.9 Oct -2.3 -14.9 0.9 -93.0 -

China 4.9 Q3 11.2 1.8 0.5 Oct 2.9 4.2 Q3§ 1.7 -5.6 3.2 §§ 14.0 6.54 7.2

Japan -5.8 Q3 21.4 -6.4 0.1 Sep 0.2 3.0 Sep 2.6 -11.3 nil -8.0 104 4.7

Britain -9.6 Q3 78.0 -10.6 0.7 Oct 0.6 4.8 Aug†† -1.5 -18.9 0.4 -33.0 0.75 2.7

Canada -13.0 Q2 -38.7 -5.8 0.7 Oct 0.7 8.9 Oct -2.1 -13.0 0.7 -78.0 1.31 0.8

Euro area -4.4 Q3 60.5 -8.3 -0.3 Oct 0.3 8.3 Sep 2.2 -9.0 -0.6 -22.0 0.84 7.1

Austria -14.3 Q2 -38.2 -6.4 1.3 Oct 1.1 5.5 Sep 1.0 -7.4 -0.4 -30.0 0.84 7.1

Belgium -5.1 Q3 50.2 -7.9 0.7 Oct 0.4 5.2 Sep -1.1 -9.7 -0.3 -33.0 0.84 7.1

France -4.3 Q3 95.4 -9.5 nil Oct 0.5 7.9 Sep -1.9 -10.7 -0.3 -29.0 0.84 7.1

Germany -4.2 Q3 37.2 -5.8 -0.2 Oct 0.5 4.5 Sep 5.5 -7.2 -0.6 -22.0 0.84 7.1

Greece -15.3 Q2 -45.4 -9.0 -1.8 Oct -1.4 16.8 Aug -2.9 -7.9 0.8 -72.0 0.84 7.1

Italy -4.7 Q3 81.8 -9.1 -0.3 Oct -0.2 9.6 Sep 2.6 -11.0 0.6 -69.0 0.84 7.1

Netherlands -2.5 Q3 34.5 -6.0 1.2 Oct 1.1 3.8 Mar 7.0 -6.0 -0.5 -34.0 0.84 7.1

Spain -8.7 Q3 85.5 -12.7 -0.8 Oct -0.3 16.5 Sep 0.5 -12.3 0.1 -36.0 0.84 7.1

Czech Republic -10.8 Q2 27.2 -7.0 2.9 Oct 3.2 2.8 Sep‡ -0.5 -7.7 1.2 -32.0 22.2 4.0

Denmark -7.6 Q2 21.1 -4.0 0.4 Oct 0.4 4.8 Sep 10.0 -6.3 -0.4 -14.0 6.27 7.5

Norway -0.2 Q3 19.7 -3.5 1.7 Oct 1.4 5.3 Aug‡‡ 1.8 -0.9 0.8 -66.0 9.00 1.2

Poland -8.0 Q2 34.5 -4.0 3.1 Oct 3.4 6.1 Sep§ 2.8 -11.3 1.2 -92.0 3.76 2.9

Russia -3.6 Q3 na -4.4 4.0 Oct 3.3 6.3 Sep§ 1.7 -4.3 6.1 -50.0 75.9 -16.0

Sweden -4.1 Q3 18.3 -3.8 0.3 Oct 0.4 8.3 Sep§ 4.5 -4.1 nil 2.0 8.58 12.1

Switzerland -8.3 Q2 -26.1 -4.1 -0.6 Oct -0.9 3.3 Oct 9.0 -4.6 -0.5 nil 0.91 8.8

Turkey -9.9 Q2 na -3.9 11.9 Oct 12.0 13.2 Aug§ -4.5 -5.1 11.9 -18.0 7.69 -25.5

Australia -6.3 Q2 -25.2 -4.4 0.7 Q3 0.7 7.0 Oct 1.1 -7.6 0.9 -28.0 1.37 7.3

Hong Kong -3.5 Q3 11.8 -5.5 -2.3 Sep 0.4 6.4 Oct‡‡ 5.4 -5.9 0.7 -98.0 7.75 1.0

India -23.9 Q2 -69.4 -9.8 7.6 Oct 6.5 7.0 Oct 0.7 -7.8 5.9 -60.0 74.2 -3.2

Indonesia -3.5 Q3 na -2.2 1.4 Oct 1.9 7.1 Q3§ -1.8 -7.1 6.2 -87.0 14,070 0.1

Malaysia -2.7 Q3 na -8.0 -1.4 Sep -1.1 4.6 Sep§ 2.1 -8.1 2.7 -78.0 4.09 1.7

Pakistan 0.5 2020** na -2.8 8.9 Oct 9.8 5.8 2018 -0.4 -8.0 9.8 ††† -148 160 -2.7

Philippines -11.5 Q3 36.0 -6.1 2.5 Oct 2.4 10.0 Q3§ 0.9 -7.8 3.0 -169 48.2 5.0

Singapore -7.0 Q3 35.4 -6.0 nil Sep -0.4 3.6 Q3 18.0 -13.9 0.9 -83.0 1.34 1.5

South Korea -1.3 Q3 7.9 -1.2 0.1 Oct 0.5 3.7 Oct§ 3.8 -5.7 1.6 -18.0 1,104 5.5

Taiwan 3.3 Q3 18.9 -0.2 -0.2 Oct -0.3 3.8 Sep 12.3 -1.5 0.3 -42.0 28.5 7.0

Thailand -6.4 Q3 28.8 -5.9 -0.5 Oct -0.8 1.9 Aug§ 3.1 -6.4 1.2 -40.0 30.3 -0.2

Argentina -19.1 Q2 -50.7 -11.3 37.2 Oct‡ 42.0 13.1 Q2§ 2.4 -9.2 na -464 80.2 -25.6

Brazil -11.4 Q2 -33.5 -5.2 3.9 Oct 3.1 14.4 Aug§‡‡ -0.4 -15.9 2.0 -266 5.29 -20.8

Chile -9.1 Q3 22.6 -5.9 2.9 Oct 2.9 12.3 Sep§‡‡ 0.2 -8.9 2.6 -74.0 757 2.3

Colombia -9.5 Q3 39.6 -7.3 1.7 Oct 2.6 15.8 Sep§ -4.6 -8.8 5.0 -112 3,649 -5.2

Mexico -8.6 Q3 57.4 -9.1 4.1 Oct 3.4 3.3 Mar 1.8 -5.3 5.8 -115 20.2 -4.6

Peru -30.2 Q2 -72.1 -13.0 1.7 Oct 1.8 15.7 Oct§ -1.1 -9.2 4.1 -19.0 3.58 -5.9

Egypt -1.7 Q2 na 3.6 4.6 Oct 4.7 7.3 Q3§ -3.4 -9.4 na nil 15.6 3.3

Israel -1.9 Q3 37.9 -5.2 -0.8 Oct -0.6 4.7 Sep 3.6 -10.9 0.8 -9.0 3.35 3.3

Saudi Arabia 0.3 2019 na -5.2 5.8 Oct 3.4 9.0 Q2 -3.9 -10.9 na nil 3.75 nil

South Africa -17.1 Q2 -51.0 -7.7 2.9 Sep 3.5 30.8 Q3§ -2.1 -16.0 8.8 41.0 15.4 -4.2

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.

Commodities

TheEconomist commodity-price index % change on

2015=100 Nov 10th Nov 17th* month year

DollarIndex

AllItems 132.3 135.1 4.6 22.9

Food 109.8 111.6 4.9 14.4

Industrials

All 153.2 157.0 4.4 29.3

Non-foodagriculturals 108.8 111.4 4.9 13.2

Metals 166.4 170.5 4.3 33.0

SterlingIndex

Allitems 152.4 155.5 2.2 19.9

EuroIndex

Allitems 124.1 126.2 4.2 14.7

Gold

$ peroz 1,884.6 1,887.3 -1.1 28.1

Brent

$ perbarrel 43.7 43.8 1.4 -29.8

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

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 Nov 18th week 2019 Nov 18th week 2019

United States S&P 500 3,567.8 -0.1 10.4

United States NAScomp 11,801.6 0.1 31.5

China Shanghai Comp 3,347.3 0.2 9.7

China Shenzhen Comp 2,261.6 -0.1 31.3

Japan Nikkei 225 25,728.1 1.5 8.8

Japan Topix 1,720.7 -0.5 nil

Britain FTSE 100 6,385.2 nil -15.3

Canada S&P TSX 16,889.8 0.7 -1.0

Euro area EURO STOXX 50 3,482.2 0.4 -7.0

France CAC 40 5,511.5 1.2 -7.8

Germany DAX* 13,201.9 -0.1 -0.4

Italy FTSE/MIB 21,622.7 3.0 -8.0

Netherlands AEX 600.9 0.3 -0.6

Spain IBEX 35 7,981.5 2.4 -16.4

Poland WIG 52,232.2 1.9 -9.7

Russia RTS, $ terms 1,276.8 3.5 -17.6

Switzerland SMI 10,563.9 0.3 -0.5

Tu r ke y BIST 1,294.7 1.2 13.2

Australia All Ord. 6,726.5 1.1 -1.1

Hong Kong Hang Seng 26,544.3 1.2 -5.8

India BSE 44,180.1 1.3 7.1

Indonesia IDX 5,557.5 0.9 -11.8

Malaysia KLSE 1,604.8 2.2 1.0

Pakistan KSE 40,514.7 -1.7 -0.5

Singapore STI 2,788.6 2.8 -13.5

South Korea KOSPI 2,545.6 2.4 15.8

Taiwan TWI 13,773.3 3.9 14.8

Thailand SET 1,364.6 1.4 -13.6

Argentina MERV 51,295.5 -0.3 23.1

Brazil BVSP 106,119.1 1.3 -8.2

Mexico IPC 42,252.6 3.4 -3.0

Egypt EGX 30 10,989.7 -0.1 -21.3

Israel TA-125 1,486.1 1.4 -8.1

Saudi Arabia Tadawul 8,621.2 2.0 2.8

South Africa JSE AS 57,323.7 -0.5 0.4

World, dev'd MSCI 2,543.4 0.6 7.8

Emerging markets MSCI 1,207.5 2.4 8.3

US corporate bonds, spread over Treasuries

Dec 31st

Basis points latest 2019

Investment grade 153 141

High-yield 495 449

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

Research. *Total return index.

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