The Day at a Glance | July 21 2023
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*June´s leading indicator for the US logged a monthly -0.7% figure, below the consensus estimate of -0.6%.
*The National Survey of Construction Companies, carried out by the INEGI, pointed out that companies increased their production value by 7.8% m/m in May, bringing the annual reading to 18.2%.
*Sales of previously owned homes in the US dropped to 4.16 million in June.
*Preliminary consumer confidence data in the Eurozone advanced more than expected (-15.8e.) in July, reaching -15.1 points, its highest reading since February of last year.
*On Friday, granaries in southern Ukraine were targeted in a Russian missile attack, destroying tons of crops. In response to this, Ukrainian President, Volodymyr Zelensky, accused Russia of attempting to destabilize the global food market. Additionally, the United Nations Secretary General warned that this attack will have an impact “beyond Ukraine” in terms of food prices.
Economic environment
The leading indicator in the US for June logged a -0.7% monthly figure, below the consensus estimate of -0.6% m/m. With this reading, the negative streak that began in April of last year stretched out even further. Within the indicator, all components logged either negative or null variations, except for the stock market prices category, which increased by 0.20% m/m, and consumer goods orders, which recorded a marginal increase (0.01%).
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