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Economy in Brief
U.S. Housing Affordability Declines Further in June
The NAR Fixed Rate Mortgage Housing Affordability Index fell 3.6% in June...
EMU Output Makes Solid Gain in June
The European Monetary Union posted a 0.7% increase for industrial output in June...
U.S. Producer Prices Fall During July; Core Increase Weakens
The Producer Price Index for Final Demand fell 0.5% during July...
U.S. Unemployment Claims Continue on an Uptrend
Initial claims for unemployment insurance filed in the week ended August 6 rose 14,000 to 262,000...
RICS Survey Points to More U.K. Housing Sector Weakness
The survey of housing market conditions in the U.K. continues to show strength in prices versus weakness...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Robert Brusca July 25, 2007
The INSEE Biz index for French industry is still in its impressive uptrend. Yet it is only in the 74th percentile of its range and it is about 10% above its mean value. The index is off peak and while the trend is technically still in place it is appropriate to wonder if the uptrend is abating.
Orders and demand trends are still firm but so is the series likely price trend. The MFG portion of the survey shows a bit more of a loss in momentum. The Production trend reading fell off in July to 17 from 24 but still ranking in the mid-70s in terms of the percentile of its range of values - a firm result. The recent trend for production assessment ticked up in July; the likely trend assessment also rose to 15 from 14. MFG prices expected are only at a reading of 6 and reside in their 62nd percentile of their range, a more modest showing than for French industry overall.
On balance, the readings from France are still solid and encouraging. Some of the inflation responses are, however, on the high side, and for overall industry, with a bit of momentum.
Since Jan 1990 | Since Jan 1990 | |||||||||
Jul-07 | Jun-07 | May-07 | Apr-07 | Percentile | Rank | Max | Min | Range | Mean | |
Climate | 110 | 110 | 108 | 112 | 74.0 | 41 | 123 | 73 | 50 | 101 |
Production | ||||||||||
Recent Trend | 16 | 24 | 14 | 10 | 72.5 | 44 | 44 | -58 | 102 | -6 |
Likely trend | 31 | 27 | 22 | 21 | 66.7 | 20 | 63 | -33 | 96 | 7 |
Orders/Demand | ||||||||||
Orders&Demand | 2 | 4 | 3 | 5 | 73.6 | 33 | 25 | -62 | 87 | -15 |
Foreign Orders & Demand | 5 | 4 | 6 | 10 | 70.8 | 46 | 31 | -58 | 89 | -11 |
Prices | ||||||||||
Likely Sales Prices Trend | 10 | 10 | 9 | 4 | 70.2 | 26 | 24 | -23 | 47 | 0 |