Fri, 29 Mar 2024 14:01:48 ESTEconomy.com from Moody's Analyticshttp://www.economy.com/dismal/Chile: Retail & Wholesale Saleshttps://www.economy.com/dismal/indicators/releases/89308A5E-BEBA-4965-8E67-0B0D4CEB6B24The February retail and wholesale sales report was mixed, with retail sales falling 0.6% from January on a seasonally adjusted basis after the prior month's exceptional 3.1% gain. Despite the dip in consumer spending in February, retail sales are trending up, and the top-line index tracking retail and wholesale sales rose 3.2% on a year-ago basis, ahead of our forecast. Retail sales will continue to rebound over the course of the year as Chile's economy recovers from a near two-year recession. However, there will be bumps in the road due to lingering weakness in the broader economy. Retail spending will rise more convincingly in the second half of the year, when interest rates will turn less restrictive and real income gains will quicken. Thu, 28 Mar 2024 10:30:00 ESTBrazil: Employment Situationhttps://www.economy.com/dismal/indicators/releases/771CE944-29FC-4269-A85C-D89D68B8D7AEBrazil’s unemployment rate rose in February affected by the typical seasonal factor at the start of the year. The economy created jobs, but the amount was insufficient to absorb the additional number of job seekers. The unemployment rate increased to 7.8% in the rolling quarter ending in February from a rate of 7.6% in the previous three-month period, but down from 8.6% a year before.Thu, 28 Mar 2024 08:00:00 ESTChile: Employmenthttps://www.economy.com/dismal/indicators/releases/93418C14-7559-45EA-B36B-23864062A86AThe labor market slowly improved in February amid the incipient economic recovery. Indeed, the national unemployment rate (not seasonally adjusted) averaged 8.5% in the December-February period, slightly up from 8.4% a year earlier. The economy added 280,000 jobs compared with a year earlier in this period, still not enough to offset the increase in the labor force of about 320,000. Meanwhile, the labor force participation rate increased compared with a year earlier but remained below pre-pandemic levels. Labor market conditions will gradually improve in upcoming months, as the recovery gains momentum. Thu, 28 Mar 2024 08:00:00 ESTChile: Manufacturing Productionhttps://www.economy.com/dismal/indicators/releases/4344F484-979F-4560-8F46-7E025BBB9CD2National manufacturing production gained steam in February as the domestic market felt the relief provided by the monetary relaxation in place. All three sectors reported an annual advance. Total industry also posted additional growth. Manufacturing production reported an annual increase of 8.8% in February after a rebound of 6.5% in the previous month and a contraction of 3.5% a year before. Total industry increased 7.9% in February after advancing 3.7% in the previous month and falling 0.9% a year before.Thu, 28 Mar 2024 08:00:00 ESTMexico: Employment Situationhttps://www.economy.com/dismal/indicators/releases/E0F4A140-2900-48CD-9151-BFCE0C7329C4Mexico’s unemployment rate adjusted down in February after a seasonal rebound in January, as the economy is gaining steam and creating more temporary jobs given the positive effects of the political cycle. In February, the unemployment rate was 2.5% after 2.9% in January and 2.7% a year before. Seasonally adjusted figures contracted on a monthly basis by 0.3%.Wed, 27 Mar 2024 08:00:00 ESTMexico: Trade Balancehttps://www.economy.com/dismal/indicators/releases/EF5E677E-D786-47B4-95E5-175766B4E74CMexico’s trade balance stayed in negative territory in February even though exports and imports advanced positively in an environment of a strong peso. Exports reported double-digit growth propelled by both oil and nonoil sales. In February, the trade balance reported a deficit of $585 billion after a negative result of $4.315 billion in the previous month and a deficit of $1.889 billion a year before. In the first two months of the year, the trade balance accumulated a deficit of $4.899 billion compared with a deficit of $5.995 billion in the period of 2023.Wed, 27 Mar 2024 08:00:00 ESTArgentina: Economic Activity Indicatorhttps://www.economy.com/dismal/indicators/releases/0577A477-F8E7-4B08-898F-E8E5F9B1065BThe statistics office’s monthly economic activity index, IMAE, fell 4.3% year on year in January after declining 4.5% in the previous month. On a seasonally adjusted basis, the economic activity index declined 1.2% month on month. The key agriculture sector continued to recover in January after contracting sharply for most of 2023 due to severe drought conditions. Yet, January’s report still depicts an economy in recession amid triple-digit inflation and the implementation of an aggressive stabilization plan by the new government. Economic conditions will deteriorate in upcoming months before turning a corner in the second half of the year. Thus, we see real GDP contracting 2.9% in 2024 after falling 1.6% in 2023. Tue, 26 Mar 2024 15:00:00 EST