S&P 5007,650.50+0.17%

NASDAQ 10029,644+0.67%

Shanghai Composite3,936.40+0.63%

Hang Seng24,906+0.63%

Nikkei 22565,019+1.38%

NIFTY 5023,402+0.24%

IDX Composite6,423.51-0.27%

DAX25,304-1.60%

FTSE 10010,659-1.45%

CAC 408,065.02-1.49%

S&P/TSX Composite35,807-0.19%

KOSPI6,991.66+1.41%

TAIEX47,719+1.14%

Brent Crude$98.12-5.54%

WTI Crude$94.63-5.65%

Gold$4,389-0.81%

Silver$66.52-0.06%

Copper$6.72+1.58%

Aluminum$3,446.75+0.42%

Iron Ore$97.57+0.15%

Soybeans$1,311.50+0.61%

Natural Gas$2.89-0.93%

S&P 5007,650.50+0.17%

NASDAQ 10029,644+0.67%

Shanghai Composite3,936.40+0.63%

Hang Seng24,906+0.63%

Nikkei 22565,019+1.38%

NIFTY 5023,402+0.24%

IDX Composite6,423.51-0.27%

DAX25,304-1.60%

FTSE 10010,659-1.45%

CAC 408,065.02-1.49%

S&P/TSX Composite35,807-0.19%

KOSPI6,991.66+1.41%

TAIEX47,719+1.14%

Brent Crude$98.12-5.54%

WTI Crude$94.63-5.65%

Gold$4,389-0.81%

Silver$66.52-0.06%

Copper$6.72+1.58%

Aluminum$3,446.75+0.42%

Iron Ore$97.57+0.15%

Soybeans$1,311.50+0.61%

Natural Gas$2.89-0.93%

United StatesIndependent weekly intelligence

The US economy, one lens at a time.

Growth, prices, jobs, policy rates, trade, fiscal flows, and business activity for the United States—each category read on its own terms, with consistent multi-year history.

Last updated: Sep 20, 2026

Indicators

Charted series

Lenses

Economic themes

History

2–3Y

Per-series context

Compare with Canada

📈

Growth

🇺🇸

US GDP Growth

Apr 2026 · United States

1.5 % QoQ

▼ 0.6 vs prev 2.1 % QoQ

US real GDP grew at a 1.5% annualised pace in Q2 2026, following 2.1% in Q1. Quarterly estimates remain subject to revision. Source: BEA via FRED (A191RL1Q225SBEA).

💹

Inflation

🇺🇸

US CPI (SA Index)

Aug 2026 · United States

3.71 % YoY

▲ 0.17 vs prev 3.54 % YoY

The seasonally adjusted CPI index rose 3.71% year over year in August, up from 3.54% in July. This calculation uses FRED CPIAUCSL and can differ from the BLS headline rate based on unadjusted prices. Source: BLS via FRED (CPIAUCSL).

🇺🇸

US PPI Inflation

Aug 2026 · United States

5.41 % YoY

▲ 0.61 vs prev 4.8 % YoY

US producer prices for final demand increased 5.41% year over year in August, up from a revised 4.80% in July. Source: BLS via FRED (PPIFIS).

👷

Employment

🇺🇸

US Initial Jobless Claims

Sep 12, 2026 · United States

196 K

▼ 10 vs prev 206 K

US initial jobless claims fell to 196K in the week ended September 12 from 206K the week before. Source: US Department of Labor via FRED (ICSA).

🇺🇸

US Unemployment Rate

Aug 2026 · United States

4.1 %

▲ 0 vs prev 4.1 %

The US unemployment rate held at 4.1% in August, unchanged from July, as payroll growth rebounded. Source: BLS via FRED (UNRATE).

🇺🇸

US Nonfarm Payrolls

Aug 2026 · United States

162 K MoM

▲ 141 vs prev 21 K MoM

US nonfarm payrolls rose 162K in August after a revised 21K gain in July, a sharp rebound that exceeded expectations while unemployment held at 4.1%. Source: BLS via FRED (PAYEMS).

🛒

Consumption

🇺🇸

US Retail Sales

Aug 2026 · United States

6.01 % YoY

▲ 0.98 vs prev 5.03 % YoY

US retail and food-services sales rose 6.01% year over year in August, compared with a revised 5.03% in July. Source: US Census Bureau via FRED (RSAFS).

🏦

Rates & Yields

🇺🇸

10Y/30Y Yield Curve

2026-09-17 · United States

+35 bp

upward sloping

10Y4.94%

30Y5.29%

the 30-year Treasury minus the 10-year Treasury, currently +35bp, so the curve slopes upward across the long end. Source: FRED (DGS10, DGS30), daily.

🇺🇸

US Fed Funds Rate

Aug 2026 · United States

3.63 %

▲ 0 vs prev 3.63 %

The effective federal funds rate held at 3.63% in August, unchanged from July. Source: Federal Reserve via FRED (FEDFUNDS).

🚢

Trade

🇺🇸

US Trade Balance

Jul 2026 · United States

-88.58 USD B

▼ 17.39 vs prev -71.18 USD B

The US goods-and-services trade deficit widened to $88.58B in July from $71.18B in June. Source: BEA via FRED (BOPGSTB).

🏛️

Fiscal

🇺🇸

US Federal Tax Receipts

Apr 2026 · United States

3,736.83 USD B

▲ 91.39 vs prev 3,645.44 USD B

US federal current tax receipts ran at a $3.737T annualised pace in Q2, up from $3.645T in Q1. Source: BEA via FRED (W006RC1Q027SBEA).

🌐

PMI

🇺🇸

US Manufacturing PMI

Aug 2026 · United States

53.9 Index

▲ 0.0 vs prev 53.9 Index

S&P Global US Manufacturing PMI, final registered 53.9 in August versus 53.9 in July. A reading above 50 signals expansion and below 50 contraction. Source: S&P Global via NAM.

🇺🇸

US Services PMI

Aug 2026 · United States

56.5 Index

▲ 1.9 vs prev 54.6 Index

S&P Global US Services PMI, final registered 56.5 in August versus 54.6 in July. A reading above 50 signals expansion and below 50 contraction. Source: S&P Global via StreetInsider.

Economic Commentary

Auto-generated United States macro notes · latest available data

AUTO

🇺🇸

US GDP Growth softened to 1.5 % QoQ in Apr 2026, retreating from 2.1 — momentum warranted monitoring.

🇺🇸

US Initial Jobless Claims declined to 196 K in Sep 12, 2026, easing from 206 — a positive macro development.

🇺🇸

US Unemployment Rate held steady at 4.1 % in Aug 2026.

🇺🇸

US CPI (SA Index) climbed to 3.71 % YoY in Aug 2026, up 0.17 from 3.54 — a headwind to watch.

🇺🇸

US PPI Inflation climbed to 5.41 % YoY in Aug 2026, up 0.61 from 4.8 — a headwind to watch.

🇺🇸

US Nonfarm Payrolls improved to 162 K MoM in Aug 2026, up from 21 — a firmer reading than before.

🇺🇸

US Fed Funds Rate held steady at 3.63 % in Aug 2026.

🇺🇸

US Trade Balance softened to -88.58 USD B in Jul 2026, retreating from -71.18 — momentum warranted monitoring.

🇺🇸

US Federal Tax Receipts improved to 3,736.83 USD B in Apr 2026, up from 3,645.44 — a firmer reading than before.

🇺🇸

US Retail Sales improved to 6.01 % YoY in Aug 2026, up from 5.03 — a firmer reading than before.

🇺🇸

US Manufacturing PMI held steady at 53.9 Index in Aug 2026.

🇺🇸

US Services PMI improved to 56.5 Index in Aug 2026, up from 54.6 — a firmer reading than before.

Commentary is auto-generated from data. Replace with your own analysis in the Blog section.