Weekly Global Overview
Week of June 29 to July 3
Global growth continues to show mixed signals between resilient consumption and moderating economic activity.
Markets entered July with lighter trading activity due to the U.S. Independence Day holiday, while economic indicators pointed to a gradual slowdown in global growth. Consumption remains resilient across several regions, although challenges related to trade, manufacturing, and industrial activity persist.
United States
- Markets ended the week on a positive note despite signs of moderation in labor markets and manufacturing activity. Consumption remains solid, although the trade deficit reached its highest level in more than a year.
Europe
- Inflation continues to moderate thanks to lower energy costs. Consumption remains resilient, although signs of industrial weakness and slower growth in the United Kingdom persist.
Japan
- Retail sales surprised to the upside, supported by wage growth, while industrial production continues a gradual, albeit fragile, recovery.
China
- The manufacturing PMI recorded its third consecutive month of expansion, driven by technology exports and artificial intelligence-related demand, despite weak domestic consumption.
Argentina
- Economic activity continues to post positive annual growth, albeit at a slower pace, supported by agriculture and mining.
Brazil
- Producer prices faced less pressure due to lower food and mining costs, partially offsetting increases in other industrial sectors.
Mexico
- Manufacturing activity and remittances continue to support economic growth, while concerns over trade and tax revenue collection are increasing.
“Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn’t, pays it.” — Albert Einstein
KEY UPCOMING EVENTS
- In the United States, the Services PMI will be released on 07/06
- In the United States, employment-related data will be released on 07/09
Monitor:
Note: Returns as of July 2 at closing
