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 July 13, 2005
Import prices in June recovered the prior month's revised decline with a 1.0% increase and about matched Consensus expectations.
Petroleum prices more than recovered May's decline with a 7.6% jump. In early July, Brent crude moved higher to $57.69/bbl. from an average $55.37 in June.
Import prices other than petroleum posted the second consecutive monthly decline and fell 0.4% last month. The decline primarily reflected a 1.7% drop in prices for foods, feeds & beverages.
Prices for nonauto consumer goods fell 0.1% (+1.4% y/y) and capital goods prices were unchanged (0.0% y/y). Excluding computers capital goods prices also were unchanged (2.9% y/y).
During the last ten years there has been a 66% (negative) correlation between the nominal trade-weighted exchange value of the US dollar vs. major currencies and the y/y change in non oil import prices. The correlation is a lower 47% against a broader basket of currencies and a lower 57% against the real value of the dollar.
Export prices were unchanged.
Import/Export Prices (NSA) | June | May | Y/Y | 2004 | 2003 | 2002 |
---|---|---|---|---|---|---|
Import - All Commodities | 1.0% | -1.0% | 7.0% | 5.6% | 2.9% | -2.5% |
Petroleum | 7.6% | -4.8% | 37.6% | 30.5% | 21.0% | 3.0% |
Non-petroleum | -0.4% | -0.2% | 2.1% | 2.6% | 1.1% | -2.4% |
Export - All Commodities | 0.0% | -0.2% | 3.2% | 3.9% | 1.6% | -1.0% |