US: Resilient Productivity and Contained Labor Costs Support Disinflation
Nonfarm business labor productivity (output per hour) rose 1.4% at an annualized rate in the second quarter of 2026 and 2.2% from the same quarter a year earlier...
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Hyperscalers: How Much Is Too Much?
Just 10 of the most relevant companies among the so-called hyperscalers in the United States are set to invest close to a total of USD 1 trillion in...
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How AI Is Impacting Macroeconomics: The Cases of Taiwan, South Korea, Singapore, Ireland and the Netherlands.
Markets appear increasingly uneasy about the impact of hyperscalers’ outsized demand for resources on long-term interest rates. The challenge seems more significant in the United States than in...
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Latam Ex Brazil – A Favorable Outlook for the Years Ahead
In this report we present assessments and outlooks for the economies of Argentina, Colombia, Chile, Mexico, Paraguay and Peru. For a financial market that is mostly focused on...
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US: Core PPI and Import Prices Reinforce Cost Pressures
Import prices fell 0.4% in July (after -0.3% in June) but are up 5.9% over 12 months. The monthly decline came from fuel (-7.2%, the largest since May...
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US – CPI: Inflation Is Not Rising, but Remains High and Far from Target
The Consumer Price Index (CPI) rose 0.1% in July (seasonally adjusted), after falling 0.4% in June, and decelerated to 3.4% over 12 months (from 3.5%). The core index...
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US: Productivity Reinforces the Profit Expansion Cycle
The productivity and labor cost indicators show a dynamic that is favorable for the Fed, in thatit is characterized by labor cost pressures that are virtually nonexistent from...
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Brazil – Weekly: 27/07 to 31/07
Although short-term inflation remains favorable, rising oil prices and worsening long-term inflation expectations continue to limit the scope for further interest rate cuts in Brazil.
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One World, Five Cycles: How Brazil, the U.S., Europe, China, and Japan Are Following Different Paths
The world's major economies are no longer moving through a synchronized business cycle. Instead, structural forces, AI-driven innovation, and oil price shocks are pushing Brazil, the United States,...
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