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Economy in Brief
U.S. Consumer Credit Growth Surges in June
Consumer credit outstanding jumped $40.1 billion (7.7% y/y) in June...
Japan's LEI Waffles and Slows
Japan's leading economic index in June slipped to 100.6...
U.S. Foreign Trade Deficit Narrows in June
The U.S. trade deficit in goods and services (BOP basis) fell to $79.61 billion in June...
U.S. Unemployment Claims Remain on an Uptrend
Initial claims for unemployment insurance filed in the week ended July 30 rose 6,000 to 260,000...
RICS Survey Shows Weakening U.K. Housing Market
With the Bank of England hiking its key rate by 50 basis points and planning to squeeze its balance sheet...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
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State Coincident Indexes in June 2022
State Labor Markets in June 2022
No Recession Call Can Be Made Before BEA Explains The Record Gap Between Income & Output
by Louise Curley October 10, 2005
French industrial production, excluding construction, rose 0.8% in August after falling 0.7% in July. The rise brings the index to 101.4 (2000=100) its highest level since February of this year. Production of consumer goods, excluding autos, was up 0.98% in the month and 1.87% over August, 2004. Auto production fell 3.06% in August, but was even with production in August, 2004. Capital goods production rose 0.49% in August and was 1.87% above the year ago figure. The largest increase among the components of industrial production was a 1.92% increase in intermediate goods, suggesting that manufactures may be increasing inventories. While the rise in production is encouraging, it does not, so far, indicate any marked improvement in the relatively flat trend that has persisted since mid 2003.
Increased activity in French construction in the month of August was also reported today. The index rose 1.82% from July to 106.3 (2000=100). The level of construction was, however, slightly below that of a year ago. Construction activity, in contrast to production activity, has shown a slight downward trend since mid 2003. The rise in construction activity in August, like that in production, does not yet indicate a change in the trend. The industrial production and construction indexes are shown in the first chart.
German exports of goods were 67.30 billion euros in August, a 3.52% increase from July and a 10.76% increase from August of a year ago. The 10% decline in the euro this year and good demand outside the euro area have been largely responsible for the good showing. Imports, however, increased 6.01% in August and were 12.77% over the corresponding month of a year ago, due in part to the increased price of oil. As a result, the balance on goods fell 0.81 billion euros from 13.46 billion euros in July to 12.65 billion euros in August but was 0.35 billion euros above August 2004. German exports and imports of goods are shown in the second chart.
France | Aug 05 | Jul 05 | Aug 04 | M/M % | Y/Y % | 2004 | 2003 | 2002 |
---|---|---|---|---|---|---|---|---|
Industrial Production, ex construction (2000=100) | 101.4 | 100.6 | 100.4 | 0.80 | 1.00 | 101.3 | 99.6 | 99.9 |
Consumer goods, ex autos | 103.5 | 102.5 | 101.6 | 0.98 | 1.87 | 101.6 | 99.5 | 99.3 |
Autos | 107.7 | 111.1 | 107.7 | -3.06 | 0.00 | 112.8 | 107.6 | 108.9 |
Capital goods | 103.3 | 102.8 | 101.4 | 0.49 | 1.87 | 101.4 | 99.1 | 99.0 |
Intermediate goods | 95.6 | 93.8 | 95.4 | 1.92 | 0.21 | 96.1 | 94.8 | 96.7 |
Construction (2000=100) | 106.3 | 104.4 | 106.4 | 1.82 | -0.09 | 107.4 | 105.5 | 105.0 |
Germany | Aug 05 | Jul 05 | Aug 04 | M/M % | Y/Y % | 2004 Mo Avg |
2003 Mo Avg |
2002 Mo Avg |
Exports SA (Bil euros) | 67.30 | 65.01 | 60.76 | 3.52 | 10.76 | 60.48 | 55.57 | 54.54 |
Imports | 54.65 | 51.55 | 48.46 | 6.01 | 12.77 | 47.65 | 44.66 | 43.33 |
Balance | 12.65 | 13.46 | 12.30 | -0.81* | 0.35* | 12.82 | 10.91 | 11.16 |