Commentary Archive

August 2008
28	U.S. 2Q'08 GDP Growth Revised Sharply Higher
28	U.S. Initial Unemployment Insurance Claims Dipped
27	Italy: Consumer Confidence Rebounds but Remains Very Weak
27	U.S. Durable Goods Orders Surged Again
26	Latest Ifo Confidence Indicator Continues To Fall. Expectations At Recession Levels
26	Consumer Confidence Up in August
26	U.S. New-Home Sales Off By Two-Thirds from Peak
26	Case-Shiller Home Price Index Down 15.9%
26	OFHEO House Price Index Down 4.8% Y/Y
26	U.S. Chain Store Sales Ticked Up
26	U.S. Gasoline Prices Fell Further
25	Spain’s PPI Surges
25	GDP in the United Kingdom Flat in the Second Quarter
25	Chicago Fed Index Slightly Weaker in July
25	U.S. Existing Home Sales Highest Since February
22	Euro Area Export Trends are Lagging
22	Euro Orders Continue to Plunge
21	U.S. Leading Indicators Dragged Down by Building Permits, Jobless Claims
21	Philadelphia Fed Index: Less Weakness
21	U.S. Initial Jobless Claims Ease for a Second Week
21	Despite a Bump Up in July UK Retail Sales Trends Remain Poor
21	Euro-PMIs Flatten Out
20	Japan Sector Indices are Weakening…
20	French Orders Show Some Life But Still Negative Trend
20	Reduced Oil Demand Is Pushing Down on Prices
20	Mortgage Applications Edge Lower; Credit Spreads Evince High Risk
19	German PPI is Still Soaring: 27 Year High Pace
19	U.S. PPI Up 1.2%; Big Increases Widespread
19	Declines in Euro and Oil Price Improve ZEW Indicator of Expectations
19	U.S. Housing Starts Sag Back to Low
18	UK's "Rightmove" House Price Index in Second Year-to-Year Decline
18	Home Builders’ Survey Shows Tentative Signs of Stabilization
15	Michigan Consumer Sentiment Rose Slightly Early in August
15	U.S. Industrial Production Rose
15	U.S. Empire State Index Slightly Positive
14	EMU GDP in Clear Downtrend and Declining Across the Board
14	U.S. CPI Up 0.8% in July, Y/Y by 5.6%. Boost from Gasoline Prices Now Easing
14	U.S. Initial Claims for Unemployment Insurance Dipped
13	EMU IP is FLAT
13	U.S. Business Inventory Gain the Strongest Since January Distorted by Oil Prices
13	U.S. Total Import Prices Jumped Again
13	Euro Headline Inflation is Unruly; Core Setting Down
13	U.S. Retail Sales Dipped As Expected, Internet & Catalogue Sales Jumped
13	Japan’s GDP Slows and Contracts
12	Japanese Consumer Confidence In July Lowest Ever Recorded: Retail Sales Stagnant
12	U.S. Gasoline Prices Down Again and Still The Lowest Since Late-May
12	U.S. Chain Store Sales Lost Steam
12	JOLTS: Job Openings Stable in June, Hires Up
12	U.S. Small Business Optimism Fell Further
12	U.S. Trade Deficit Again Unexpectedly Narrowed As Exports Surged
11	Evidence of Slow Down in Emerging Markets Coming to the Fore
11	French IP is Losing Momentum Across Sectors
8	OECD Indicators Do Not Point to Good News
8	Japan’s Economy Watcher’s Index Plunges
8	U.S. 2Q Productivity Growth Weakened, Costs Still Under Control
7	U.S. Consumer Credit Growth Stable in June, Still Stable With 2007
7	U.S. Pending Home Sales Unexpectedly Rose
7	Germany’s Weakness in IP Does Not Stand Alone
7	German IP Falls Sharply in Quarter Despite Rise in June
7	U.S. Unemployment Insurance Claims Rose Further
6	Japan LEI Falls
6	German MFG Orders Have Turned Horrifically Weak
6	U.S. Mortgage Applications Down By One-third
5	FOMC Left Funds Rate at 2.00% - The Balance of Factors
5	Retail Trade in the Euro Area and the European Union
5	EMU PPI Surges Again
5	U.S. ISM Non-Manufacturing Index Ticked Up
5	U.S. Gasoline Prices Lowest Since Late-May
5	U.S. Chain Store Sales Held the High Ground
4	Some Recent Data From New Zealand
4	Challenger Layoffs Near Recent High
4	U.S. Factory Inventories Up With Oil Prices
4	U.S. Income Gain Modest after May Surge
4	U.S. Light Vehicle Sales Lowest Since 1992
1	Manufacturing PMIs: Falling in Concert in Europe
1	U.S. Construction Spending Fell in June, Stable This Year
1	German Retail Sales Wither
1	ISM Index Roughly About Stable M/M But Still Up From Recent Lows
1	U.S. Payrolls Down, Jobless Rate Up

July 2008
31	U.S. Help-Wanted Advertising Ticked Up
31	Chicago Purchasing Managers' Barometer Improved Again, Prices Surged
31	U.S. Initial Claims for Jobless Insurance Surged Again
31	U.S. Employment Cost Index Increase Eased in 2Q
31	HICP Continues to Shoot the Moon
31	U.S. 2Q'08 GDP Growth Improved Due to Foreign Trade
30	Rapid Fall Off in EU Indices - Especially for Services
30	Japan’s Real Retail Sales Fall Sharply
30	U.S. Gasoline Prices Down Again With Lower Crude Costs
30	ADP Report: July Payrolls Rose With Service Sector Hiring
29	IFO Detail Shows Spreading Weakness
29	Consumer and Business Confidence in The Netherlands, France and Slovakia
29	U.S. Chain Store Sales Surged To New High
29	Consumer Confidence Ticked Up During July
29	Case-Shiller Home Price Index Down 15.8%
28	Italy’s Retail Sector Hits the Skids
28	UK Real Estate Agents Report Declines In House Prices And More Difficulties In Making A Sale
25	U.S. New-Home Sales Dipped in June, Decline Stabilizing?
25	Michigan Consumer Sentiment Better Than Expected in July
25	Excluding Energy German Export and Import Prices Break Through 2% Mark
25	France’s Insee Services Indicator Plunges as Weakness Spreads
25	U.S. Durable Goods Orders Rose. Less Transportation Orders Jumped
24	The MFG and Services PMIs Simply are Dropping Rapidly
24	U.S. Existing Home Sales Drift Down
24	U.S. Initial Unemployment Insurance Claims Shoot Back Up
23	Euro Area Orders Drop Sharply in May
22	Japan’s All-Industries Index is Still Very Upbeat
22	Italian Consumer Confidence Takes a Dive
22	OFHEO House Price Fell Slightly in May, Down 4.8% Year to Year
22	U.S. Chain Store Sales Up Modestly
22	U.S. Gasoline Price Fell a Nickel, Crude Down $5.00
21	Producer Price Inflation in Five European Countries
21	U.S. Leading Economic Indicators Dipped
21	Chicago Fed Index Improved Somewhat
18	French and Italian Orders Scream WEAKNESS!!
18	Philadelphia Fed Index Stable & Low, Prices Surged
18	U.S. NAHB Housing Market Index Fell To A Record Low
17	Italy’s Trade Shows Deeper Deficit
17	MAPI Business Outlook Survey At A Six Year Low
17	U.S. Housing Starts Rebound All Multi-Family
17	U.S. Initial Claims for Jobless Insurance Up Moderately
16	Euro Area HICP Sees Core Decelerate
16	U.S. Industrial Production Up in June
16	U.S. Consumer Price Index Jumped 1.1%, Y/Y Gain The Most Since 1991
15	U.S. Empire State Index Remained Negative
15	U.S. Gasoline Price Held at $4.11 per Gallon
15	U.S. Business Inventories' Trend Growth Slower
15	ZEW Components Weak Expectations Are a Disaster
15	U.S. Retail Sales Rose Just Slightly in June
15	U.S. PPI Surged Again
14	UK Losses Grip on PPI Inflation
14	Euro Area IP Trends Point Lower
11	U.S. June Budget Surplus Up, FYTD Deficit More Than Doubled
11	Michigan Consumer Sentiment Up Slightly
11	U.S. Total Import Prices Surged Again
11	OECD LEIs Getting Ever Weaker…
11	U.S. May Trade Deficit Narrowed Unexpectedly
10	Europe is Taking a Turn for the Worse…
10	U.S. Initial Jobless Insurance Claims Dropped With Holiday, Trend Up
9	Euro-Growth is a Tick Weaker in 2008-Q1
9	JOLTS: May Job Openings Up Minimally - Hires Plunged
8	German Industrial Output Now Points Clearly Lower – All Sectors Soften
8	British Chambers Of Commerce Economic Survey Pointing To Recession?
8	U.S. Chain Store Sales Nudged Up
8	U.S. Pending Home Sales Reversed Most of the April Improvement
8	U.S. Gasoline Price Reached $4.10 per Gallon
8	U.S. Small Business Optimism Stable, Near 1975 Low
7	UK IP Trends Turn Lower
7	Industrial Production Declines More Than Expected in Germany And U.K.: Increases in Norway
7	U.S. Gasoline Prices Up - Driving Down
3	U.S. ISM Non-Manufacturing Index Lowest Since January, Pricing Power Surged
3	U.S. Initial Claims for Unemployment Insurance Surged
3	Service Sectors Are Weakening Across Europe
3	U.S. Payrolls Fell for Sixth Month, Jobless Rate Stable at 5.5%
2	PPI Inflation Trends Continue Strong in the Euro Area
2	Challenger Layoffs Fell in June, Trend Up Strongly
2	U.S. Factory Inventories Rose With Shipments
2	Markit Indices Continue to Show MFG Declines in Euro Area
2	ADP Report: June Private Sector Payrolls Down, Earlier Figures Revised Up
1	U.S. Vehicle Sales in June Lowest Since 1993
1	Inflation in the Euro Area, the Unemployment Rate in Germany and the ECB
1	U.S. Construction Spending Down in May, 2008 Leveled
1	U.S. Chain Store Sales Nudged Up
1	ISM Factory Sector Index Improved Slightly, Again
1	U.S. Gasoline Price Reached $4.10 per Gallon

June 2008
30	EMU Inflation Goes Ballistic - Over 4%; Ceiling Still is 2%
30	Consumer Confidence in the U.K. Close to All Time Low
30	Chicago Purchasing Managers' Barometer Slightly Improved
27	EU and Country Sentiment Indices Falling Except for Italy
27	Global and EMU Money Supply Slows…but Gradually
27	Michigan Consumer Sentiment Down Even Further
27	U.S. Income Surged Due to Stimulus Payment
26	French Household Confidence is Diving
26	Italy’s Biz Confidence Drops; Resides in Bottom Third of its Range
26	U.S. Initial Claims for Unemployment Insurance Unchanged
26	U.S. Existing Home Sales Flat for Several Months
26	Italy: Retail Sales Follows Consumer Confidence Lower
26	EMU Orders Post Surprising Strength in April
26	U.S. 1Q'08 GDP Revised Up Minimally, Profits Revised Down
25	FOMC Left Fed Funds Rate Unchanged at 2.00%
25	UK CBI Sales/Order Survey Improves Slightly but Still Shows Decline
25	French Business Confidence is FLAT On the Month Outlook is Buoyant!
25	U.S. New-Home Sales Near The Lowest Since 1991
25	U.S. Durable Goods Orders Unchanged in May; Downtrend Underscores Factory Sector Woes
24	Italy’s Consumer Confidence Backs Off Again
24	UK Mortgage Approvals By Banks Continue To Fall
24	U.S. Gasoline Price Stable at $4.08 per Gallon
24	Consumer Confidence in June Again Fell Surprising Hard
24	IFO Business Sentiment Reading is Still Sinking
24	Case-Shiller Home Price Index Off 17.8% Since Peak
23	PPI Pressures Begin to Spread in Germany
23	Chicago Fed Index Still Gives A Recession Signal
23	German Business Confidence Weakens
23	U.S. Bankruptcies Surge and the 2005 Procedure
19	All Industry Index Advances and Shows Resilience
19	UK Retail Sales Surge in 22-Yr High Gain
19	Philadelphia Fed Index Slipped, Prices Surged
19	U.S. Initial Claims for Unemployment Insurance Slipped
18	Japan’s LEI - Unrevised but Still Downbeat
18	UK Prices Pressures Mount for Industry
18	U.S. Current Account Deficit Slightly Deeper in 1Q'08
17	U.S. Industrial Output Fell Unexpectedly in May
17	U.S. PPI Increase Largest Since November, Gain in Core Prices Eased
17	U.S. Gasoline Price Still Above $4.00
17	Two Surveys Of German Economic Sentiment Show Significant Declines
17	U.S. Housing Starts Lowest Since 1991
16	U.S. NAHB Housing Market Index Down A Bit Further
16	Italian Labor Costs Up Sharply In First Quarter
16	EMU HICP Spurts as ‘Core’ Edges Higher
16	U.S. Empire State Index Negative Again
13	Readings Drop in May: Index to 96.6 in Bottom Quarter of Rank Range
13	Michigan Consumer Sentiment Still in Freefall
13	U.S. Consumer Price Index Acceleration Driven by Energy
12	EMU Area IP Growth Confirms the Strength Across Countries
12	U.S. Business Inventories Rose, Recent Trend Growth Slower
12	U.S. Total Import Prices Surge Quickest Since 1990
12	U.S. Retail Sales Firmed
12	U.S. Initial Unemployment Insurance Claims Up
11	French Inflation Continues to Escalate Over the Top
11	JOLTS: April Job Openings & Hires Rose, Trend Down Hard
10	EMU Industrial Production Held Firm in April
10	Inflation and Monetary Policy in Denmark, Norway and Sweden
10	U.S. Chain Store Sales Recovered
10	U.S. Gasoline Price Crested $4.00
10	U.S. Small Business Optimism Near 1975 Low
10	U.S. Trade Deficit Deeper in April, Prior Deficits Revised Shallower
9	More Discouraging News From Japan: Economic Indicators Pointing To Recession And Economy Watchers Continue Gloomy
9	German Trade Surplus Bulges Again in April
9	OECD CLIs Point to Further Slowing Except Japan
9	German Industrial Output Trends Head Lower
9	U.S. Pending Home Sales in April Rose Unexpectedly
6	U.S. Jobless Rate of 5.5% Highest Since 2004, Payrolls Fell A Fifth Month
5	German Orders Lose Their Froth Faster Than Day-old Beer
5	U.S. Mortgage Foreclosures Rose Further
5	U.S. Household Net Worth Down Again
5	U.S. - Rise in Initial Unemployment Insurance Claims Leveled Out
4	EMU Retail Spending and Plans Continue to Roll Over
4	ADP Report: May Private Sector Payrolls Rose
4	U.S. ISM Non-Manufacturing Index Fell in May; Prices Rose
4	U.S. Light Vehicle Sales Down in May; Truck Sales Lowest Since 1996
4	U.S. Productivity Growth Revised Up; Unit Labor Costs Rose Moderately
4	Challenger Layoffs Highest Since 2005
3	Strong First Quarter Growth In The Euro Area, Particularly In Germany
3	U.S. Factory Inventories Slipped in April
3	GDP Growth Revised Up: Path Holds Steady
3	U.S. Gasoline Price Higher ... Demand Lower
3	U.S. Chain Store Sales Slid
2	U.S. Construction Spending Down Again
2	Far East Inflation And Easy Monetary Policies Mean Negative Real Interest Rates In The Area
2	EMU MFG Weakens but Pace of Decline Slows
2	ISM Factory Sector Index Rose Unexpectedly; Level Still Indicates Contraction

May 2008
30	Japan Industrial Sector in Steep Slowdown…or Worse
30	German Retail Sales by Sector
30	Michigan Consumer Sentiment Still the Lowest Since 1980
30	U.S. Income & Spending Rose Moderately in April; Real Income Flat
29	Japan’s Sales Wither After a Spike
29	EU Index is Still Sinking Fast…Inflation in EMU Still High
29	U.S. Help-Wanted Advertising Remained at a Record Low
29	U.S. Initial Claims for Jobless Insurance Ticked Up
29	U.S. 1Q'08 GDP Revised Up Slightly, Profits Rose
28	German Export and Import Prices Show Mixed Trends: Pick Your Horizon
28	French Household Confidence Remains in Steep Fall
28	U.S. April Durable Goods Orders Off Less Than Expected, Rose Excl. Transportation
28	U.S. Gasoline Prices Near $4.00 per Gallon, Crude Oil Doubled
28	U.S. Chain Store Sales Weak Again
27	INSEE Biz Indicator is Weakening
27	European Consumer And Business Confidence Indicators Released Today
27	Consumer Confidence in May Fell Unexpectedly Hard
27	U.S. New Home Sales & Prices Recovered in April
27	Case-Shiller Home Price Index Declined Again
23	Belgian Bank Index Drops With Some Mixed Sectors
23	Here’s a Real FLASH: The Euro Area is Weak and Weakening
23	U.S. Existing Home Sales % Decline Eased
22	U.S. Home Prices Fell Further
22	U.S. Initial Unemployment Insurance Claims Fell
22	Italy: Confidence, Still Weak, Makes Sharp Jump
21	Germany’s IFO in Surprise Rise
21	U.S. Inflation Pressures -- Demand-Pull, Cost-Push & Money
20	ZEW Indicator: Current Conditions In Germany Up, Expectations Down--Current Conditions In Euro Area Down, Expectations Up
20	U.S. Chain Store Sales Fell a Third Straight Week
20	Chicago Fed Index Continues to Indicate Recession
20	U.S. Gasoline Prices Up to $3.79 per Gallon. "Seasonal" Will Raise The CPI Report
20	U.S. PPI Gain Eased Last Month, Core Prices Firmed
19	Inflation in Germany: Real Wages and Unit Labor Costs
19	BOF Industry Indicator Continues to Drop
19	U.S. Leading Economic Indicators Again Up Slightly
16	Michigan Consumer Sentiment Lowest Since 1980
16	Export Trends Are Faltering in Europe As Imports Sustain
16	U.S. Housing Starts April Rise Due to Multi-Family, Single-Family at 27 Year Low
15	U.S. Initial Claims for Unemployment Insurance Ticked Up
15	U.S. Empire State Index Slipped
15	Philadelphia Fed Index Recovered, Expectations Up Sharply
15	U.S. Industrial Output Fell Hard Last Month
14	U.S. Small Business Optimism Recovered Slightly, Pricing Pressure Strong
14	U.S. Consumer Price Index Under Control in April
14	OECD Indicators Show Faltering Growth Prospects
13	Rising Inflation And Slowing Economy: A Dilemma For UK's Monetary Policy Committee On June 8
13	U.S. Business Inventory Gain Slowed, Retail Inventories Fell
13	U.S. Chain Store Sales Fell Hard Last Week
13	U.S. Total Import Prices Surged, Ex. Oil They Jumped As Well
13	U.S. Retail Sales Fell in April, Nonauto Sales Firmer
12	U.S. April Budget Surplus Down, 2008 FYTD Deficit Nearly Doubled
12	Japan’s Economy Watcher’s Index Turns Lower Again
12	Italy’s Manufacturing Output Slips and EMU Tops Out
12	Inflation in Eastern Europe
9	France: With Consumer and Intermediate Goods Output Weakening… Can Capital Goods Be Far Behind?
9	U.S. Trade Deficit Narrowed Unexpectedly in March
8	German Order Trends are Mostly Cycling Lower
8	IP Trends in Germany Begin to Decay
8	U.S. Consumer Credit Growth Up in March, Stable With 2007
8	U.S. Initial Jobless Insurance Claims Dip
7	U.S. Pending Home Sales Again Fell in March, As Expected
7	U.S. Productivity Growth Firm, Unit Labor Costs Contained
6	EMU Service Sector Makes Erratic Recovery in April
6	Trade Balances for Czech Republic, Malaysia and Australia
6	U.S. Gasoline Prices Stable at $3.61 per Gallon, WTI Crude Down
6	U.S. Chain Store Sales Dipped Last Week
5	So How Strong is the Euro?
5	Appreciation to Come in the Exchange Rates in the Gulf States ???
5	U.S. April ISM Non-Manufacturing Index Improved, Trend Still Lower
2	The NTC MFG Index/Indices Continue to Drop
2	French PPI Sees Gathering Momentum
2	German Retail Sales Show Some Life in Q1
2	U.S. Higher Gasoline Prices Weigh on Light Vehicle Sales
2	U.S. Payrolls Declined For Fourth Straight Month, Unemployment Slipped
1	U.S. Construction Spending Off Sharply
1	Challenger Layoffs Surged
1	U.S. Real DPI Flat in March, Trend Growth Reduced
1	ISM Factory Sector Index Unchanged, Prices Surged
1	Both NTC/CIPS and CBI Index Show Withering UK MFG/Industrial Sector
1	U.S. Initial Claims for Unemployment Insurance Back Up

April 2008
30	EU Indices in Steady State Decline…
30	FOMC Lowers Fed Funds Rate by 25 Basis Points
30	U.S. Employment Cost Index Steady At 0.8% Quarterly Increase
30	ADP Report: April Private Sector Payrolls Again Rose Slightly
30	U.S. 1Q'08 GDP Stable at 0.6%, Two Quarter Growth At Recession Level
29	Household Confidence in Near Free Fall in France
29	CBI Sales and Order Trends Weaken
29	Case-Shiller Home Price Index Posts 10.7% y/y Decline
29	Consumer Confidence Fell in April, As Expected
29	Italian Business Confidence
29	U.S. Gasoline Prices Rose Another Dime to $3.60 per Gallon
29	U.S. Chain Store Sales Recovered Last Week
28	Italy’s Biz Confidence Continues to Sink
28	French Service Sector Outlook and Climate Gauges Slip
28	Brazil's Current Account Deficit Widens
25	German Export and Import Inflation Trends Blunted in March
25	Michigan Consumer Sentiment Lowest Since 1982
24	IFO Weakness: A New Trend Lower or a ‘Mild’ Offset to a Spurious Jump?
24	U.S. Help-Wanted Advertising Fell to a Record Low
24	U.S. Durable Goods Orders Dipped Unexpectedly
24	U.S. New Home Sales & Prices Drop
24	U.S. Initial Claims for Jobless Insurance Lowest Since February
23	Italy’s Retail Sales Growth Remains Stunted
23	Euro Area Orders Stabilize: A Leading or Misleading Statistic?
23	Belgian National Bank Index Signals Euro-Trouble Ahead
23	The U.S. Export Boom: Where Do They Go?
22	The European Union: Fourth Quarter Balance of Payments
22	U.S. Gasoline Prices Top $3.50 per Gallon
22	U.S. Chain Store Sales Slip
22	U.S. Existing Home Sales Fell, Prices Rose
21	Japan MFG and Services Indices Diverge
21	Producer and Consumer Price Inflation in the CIS Area
21	Chicago Fed Index Indicates Recession
18	German PPI Spurts in March
17	U.S. Leading Economic Indicators Up Slightly
17	Japan’s IP is Revised Sharply Higher: Still Growth Trends are Mixed
17	EMU Trade Deficit Shoots Back Into Surplus
17	Philadelphia Fed Index Down Again
17	MAPI Business Outlook Survey Fell Again
17	U.S. Initial Unemployment Insurance Claims Up
16	Already High, Euro Area Inflation is Revised Up
16	U.S. Industrial Output Up 0.3% Last Month
16	U.S. NAHB Housing Market Index Remained Low But Stable
16	U.S. Housing Starts Weaker Than Expected
16	U.S. CPI Total Rose An Expected 0.3%
15	U.K. RICS Survey at All-time Low for House Prices
15	For The ECB Inflation Fears Outweigh Investors' Worries
15	U.S. Chain Store Sales Rose Again Despite Record Gasoline Prices
15	U.S. Empire State Index Stabilized
15	U.S. PPI Soared
14	U.K. PPI Prices Soar in March
14	Euro Area IP Looses Some Momentum
14	U.S. Business Inventories Up
14	Rice Statistics in Haver Databases
14	U.S. March Retail Sales Remained Weak
11	Michigan Consumer Sentiment Down Yet Again
11	OECD LEIs Show Continued Slowdown Signal
11	U.S. Total Import Prices Surged, Ex. Oil Jumped
11	U.S. March Budget Deficit Shallower, 2008 FYTD Deeper
10	French and Italian IP: Both Strong in 2008-Q1
10	U.S. Trade Deficit Surprisingly Deeper in February
10	U.S. Initial Jobless Insurance Claims Fell Sharply
9	German Trade Picture Produces a Higher Surplus on Weak Imports
9	UK Output: Suddenly on the Mend
9	JOLTS: Job Openings & Hire Rates Still in Decline
9	U.S. Pending Home Sales Fell As Expected in February
8	U.S. Small Business Optimism Lowest Since 1980
8	Japanese Economy Watchers See Improvement In Current Conditions
8	U.S. Consumer Credit Growth Eased in February
8	U.S. Chain Store Sales Rise Moderate, Gas Prices Rise Strong
7	German Industrial Production Surprises on the Upside
7	U.S. Payrolls: Areas of Strength & Weakness
4	U.S. Payrolls Down For Third Month, Unemployment Up
4	German Orders Fall in January and February - Is Euro to Blame?
3	UK Service Sector Takes a Hit in March
3	European Consumer Spending Weakens in February
3	U.S. ISM Non-Manufacturing Index Improved Again
3	U.S. Initial Claims for Jobless Insurance Rise Into Recession Zone?
2	EMU PPI Trends Press Higher…
2	U.S. Factory Inventory Rise Continued Firm
2	Challenger Layoffs Down Last Month
2	U.S. Vehicle Sales Lowest Since 2005, Gasoline Price Up
2	ADP Report: March Private Sector Payrolls Rose Slightly
1	European Economic Data Hits Blow Hot and Cold: This Time Cold: German Retail Sales
1	Japan: TANKAN Results Show Growing Concerns Among Business
1	U.S. Construction Spending Slipped; Nonresidential Activity Slackened
1	U.S. Chain Store Sales Slipped Again
1	ISM Factory Sector Index Ticked Higher But Still Was Below 50

March 2008
31	Inflation and Economic Sentiment in the Euro Area
31	Commodity Prices Surge
28	Japan’s Inflation Rate Rises but ‘Core’ Still Below ZERO Yr/Yr
28	Michigan Consumer Sentiment Fell Further
28	U.S. Real DPI Up 0.3%, Real PCE Flat, Prices Easy
27	Japan Retail Sales Show Some Life in January and Give it Back in February
27	French Service Sector Continues to Lose Momentum
27	U.S. Help-Wanted Advertising Back to Record Low in January
27	U.S. Weekly Initial Jobless Insurance Claims Dipped
27	U.S. 4Q GDP Growth Unrevised at 0.6%, Profits Fell
26	French Production Trend is Lower but Optimism is Intact
26	Biz Confidence Sinks Further in Italy
26	Germany’s IFO Index Turns Up…Again
26	EMU Orders Rise in January but Trends Point Lower
26	U.S. Durable Goods Orders Post Surprising Decline
26	U.S. New Home Sales Down Again
25	Iceland Raises Its Official Discount Rate to 15%
25	Consumer Confidence Fell Sharply
25	Case-Shiller Home Price Index Posts 10.7% y/y Decline
25	U.S. Petroleum Prices Tick Lower
25	U.S. Chain Store Sales Backpedal
24	Italy Retail Sales and Consumer Confidence Sag
24	Large Japanese Business Firms Turn More Pessimistic
24	Chicago Fed Index So Low Perhaps Indicates Recession
24	U.S. Existing Home Sales Rose Slightly. Momentum Changing?
21	Italy’s Consumer Confidence Erodes
21	French Orders in Holding Pattern With Strong Foreign Orders
21	Nonbank Dealers Borrow $29 Billion from the Fed
20	German Ex-Energy PPI Shows Disconcerting Pressure!
20	UK Retail Sales Show Unexpected Zest
20	U.S. Leading Economic Indicators Fell For Fifth Month
20	Philadelphia Fed Index Improved Slightly
20	U.S. Weekly Initial Jobless Insurance Claims Highest Since 2005
19	Japan Slips and its Assessment is Cut…
19	UK Order Books are “Full”…but for How Long?
19	Italy Orders Rise in Month but Still Faltering Trend
19	U.S. Empire State Index More Negative
19	U.S. Business Inventories Starting to Back Up
18	FOMC Lowers Fed Funds Rate by 75 Basis Points
18	Inflation Targeting in UK and CANADA
18	Italy’s Trade Deficit Widens: Complex Picture Emerges
18	U.S. Chain Store Sales Up Slightly and Gasoline Prices Up Sharply
18	U.S. PPI Total & Total Firm
18	U.S. Housing Starts Buoyed Again By Multi-Family
17	U.S. NAHB Housing Market Index Low & Stable
17	U.S. Current Account Deficit Shrunk in 2007
17	Stock Markets Plunge: Commodity Prices Soar
17	U.S. Industrial Output Down
14	Inflation Flares Further in the Euro Area
14	BoF Indicator Continues to be Weak
14	Michigan Consumer Sentiment Fell Again
14	U.S. CPI Total & Core Unchanged
13	Japan’s Industrial Sector Slows Down, Does the Economy?
13	Japan Retail Sales: A Jump Then a Slowing
13	U.S. Total Import Prices Eased, Nonoil Strongest Since 1995
13	U.S. Budget Deficit Deeper Due to Revenue Shortfall & Spending Surge
13