By the numbers: The global economy this week

Highlights of economic data released last week, from central bank policies to trade and growth trends.

February 20, 2024

Currency

U.S.: The dollar declined versus other currencies as data showed retail sales fell more than expected.

Central bank policy

U.S.: Federal Reserve Bank of Minneapolis President Neel Kashkari said two to three interest-rate cuts may be appropriate in 2024.

Employment trends

Initial jobless claims fell by 8,000 to 212,000 in the week ended February 10, 2024, the Department of Labor Found.

Growth

EUROZONE: Industrial production rose 2.6% in the euro area in December compared with November.

EUROZONE: The GDP growth rate remained stable in the euro area and rose 0.1% in the EU in the fourth quarter.

U.K.: GDP was expected to have fallen by 0.3% in the fourth quarter.

U.K.: Services output was expected to have declined 0.2% in the fourth quarter compared with the previous quarter.

U.K.: Industrial production was expected to have fallen by 1.0% in the fourth quarter compared with the previous quarter.

U.K.: Factory gate prices fell by 0.6% in the 12 months to January.

U.S.: The Producer Price Index for final demand declined 0.1% in December.

U.S.: Retail sales dropped 0.8% in January compared with December.

U.S.: Industrial production declined 0.1% in January.

Trade

EUROZONE: The euro area recorded a trade surplus in December.

U.K.: The trade deficit widened in the fourth quarter.

U.S.: Import prices rose 0.8% and export prices increased 0.8% in January.

Inflation/deflation

U.K.: The CPI rose 4.2% in the 12 months to January.

U.S.: Consumer inflation remained steady for the short- and long-term horizons in January.

U.S.: The CPI rose 0.3% and core CPI increased 0.4% in January.

Market sentiment