Recent Updates
- US: Consumer Sentiment (Feb-final), Chicago PMI (Feb),Personal Income, Adv Trade & Inventories (Jan)
- US: Consumer Sentiment Detail (Feb-final)
- Canada: Industrial Product Prices (Jan)
- UK: Motor Vehicle Production (Jan)
- more updates...
Economy in Brief
Chicago Business Barometer Declines Sharply in February
The ISM-Chicago Purchasing Managers Business Barometer fell 4.3 points in February to 59.5...
Goods Trade Deficit Widened Slightly in January
The advance estimate of the U.S. trade deficit in goods widened slightly to $83.74 billion in January..
Japan's Industrial Sector Mounts a Comeback
Japan's IP surged in January gaining 4.3% compared to December...
Aircraft Orders Boost U.S. Durable Goods Orders in January
Manufacturers' orders for durable goods increased a much larger-than-expected 3.4% m/m (4.5% y/y) in January...
Kansas City Fed Manufacturing Index Increases Again in February
The Kansas City Fed reported that its manufacturing sector business activity index rose to 24 in February...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller April 15, 2005
The 1.8% rise in import prices last month greatly exceeded Consensus expectations for a 1.3% increase and the prior month's gain was revised up.
Petroleum prices jumped 10.6% m/m and pulled prices one third higher than last year, but relief may be in store. So far in April the price of Brent Crude oil has run below the March average of $53.13 per barrel and yesterday touched $49.79.
Import prices outside of petroleum posted a 0.3% rise in March that mostly reflected a 3.4% (9.7% y/y) gain in prices of foods & beverages but prices for industrial supplies & materials less petroleum also posted a strong 1.1% (11.1% y/y) spike.
Prices for nonauto consumer goods fell 0.4% (+1.0% y/y) and capital goods prices slipped another 0.1% (-0.9% y/y). Excluding computers capital goods prices were unchanged (2.3% y/y). Imported computer prices fell 0.5% (-7.2% y/y).
Export prices jumped 0.7% last month as agricultural prices surged 3.7% (-8.1% y/y) and nonagricultural export prices rose 0.4% (4.6% y/y).
Import/Export Prices (NSA) | Mar | Feb | Y/Y | 2004 | 2003 | 2002 |
---|---|---|---|---|---|---|
Import - All Commodities | 1.8% | 0.8% | 7.1% | 5.6% | 2.9% | -2.5% |
Petroleum | 10.6% | 4.6% | 36.1% | 30.5% | 21.0% | 3.0% |
Non-petroleum | 0.3% | 0.1% | 2.9% | 2.6% | 1.1% | -2.4% |
Export - All Commodities | 0.7% | 0.0% | 3.3% | 3.9% | 1.6% | -1.0% |