Recent Updates
- US: Consumer Credit, Wholesale Trade (Oct), Consumer Sentiment (Dec- prelim), Employment Situation (Nov)
- Global Sector PMI (Nov)
- US: Consumer Sentiment (Dec-prelim)
- Lebanon: Public Debt (Oct-Prelim)
- more updates...
Economy in Brief
U.S. Consumer Credit Usage Accelerates
Consumer Credit Outstanding increased $18.90 billion (4.8% y/y during October...
U.S. Wholesale Inventories Edge Up While Sales Slump
Wholesale inventories edged up 0.1% m/m (+3.8% y/y) in October...
U.S. Trade Deficit Shrinks as Imports Fall Sharply
The U.S. trade deficit in goods and services declined to $47.20 billion during October...
U.S. Factory Sector Orders Increase; Inventory Growth Decelerates
Factory orders improved 0.3% (-1.2% y/y) during October...
U.S. Initial Claims for Unemployment Insurance Fall to 7-Month Low
Initial claims for unemployment insurance fell 10,000 to 203,000 (-11.4% y/y) during the week ending November 30...
by Carol Stone June 3, 2004
The Euro-Zone Purchasing Managers Index for the service industries gained 1.22 points last month. Employment, new business and expectations all contributed, while outstanding business slowed. These international PMI surveys are conducted by NTC-Research for Reuters, Inc.
Among the individual countries, France jumped 3.5 points, regaining the more buoyant amounts that prevailed around the turn of this year. Every component of the French index advanced. Italy's index also increased, that in Germany was basically flat and in Spain, down about a point.
Separate measures in the UK and Russia were mixed. The UK's index slowed, but maintained a favorable pace. Employment rose while new and outstanding business eased. Services activity in Russia, in its index compiled by Moscow Narodny Bank, gained somewhat with increases in new and outstanding business. The overall pace, however, remains well below levels during the second half of 2003.
A widespread characteristic of this month's service sector activity was faster rising prices. Input prices were up sharply in Germany, France, Spain and the UK; they rose modestly in Italy and were steady in Russia. Prices charged accelerated in France and the UK. They picked up in Italy and Germany, although at just under 49%, these prices are still falling, though more slowly than before. Price increases decelerated in Spain and Russia.
Purchasing Managers Index Percent (>50 = expansion; <50 = contraction) |
May 2004 | Apr 2004 | Mar 2004 | May 2003 | 2003 | 2002 | 2001 |
---|---|---|---|---|---|---|---|
Euro Zone Total | 55.76 | 54.54 | 54.40 | 47.89 | 51.36 | 51.58 | 51.63 |
Employment | 49.98 | 49.53 | 49.26 | 45.64 | 46.91 | 49.35 | 52.48 |
New Business | 54.63 | 53.60 | 53.58 | 45.62 | 50.85 | 51.24 | 50.11 |
Business Expectations | 66.05 | 64.24 | 66.07 | 61.86 | 65.09 | 65.74 | 62.08 |
Germany | 53.60 | 53.30 | 53.16 | 44.38 | 48.49 | 48.62 | 48.87 |
France | 58.52 | 55.04 | 55.86 | 50.99 | 53.99 | 54.71 | 54.26 |
Italy | 56.85 | 55.83 | 55.18 | 50.10 | 53.34 | 52.97 | 53.91 |
Spain | 54.63 | 55.67 | 53.90 | 50.39 | 52.51 | 52.57 | 51.64 |
United Kingdom | 57.40 | 58.99 | 58.74 | 51.86 | 54.84 | 54.37 | 51.41 |
Russia | 60.00 | 59.43 | 55.84 | 61.82 | 61.84 | 58.08 | 61.20 |