Recent Updates
- China Regional: China: Beijing Household Expenditure and Income (Q2)
- New Zealand: Food Price Index, PMI, Main Benefits (Jul)
- New Zealand: Jobseeker Support by Territorial Authority (Jul)
- Korea: Import & Export Price Indexes Press (Jul)
- US: Business Formation Statistics, Producer Prices (Jul)
- more updates...
Economy in Brief
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...
U.S. CPI Unchanged in July with Drop in Energy Prices
Consumer prices were unchanged in July after an outsized 1.3% m/m jump in June...
U.S. Federal Government Budget Deficit Shrinks in July
The U.S. Treasury Department reported a federal budget deficit of $211.1 billion in July...
U.S. Mortgage Applications Rose Slightly in the Latest Week
Mortgage applications increased 0.2% (-62.9% y/y) from one week earlier...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Robert Brusca August 6, 2007
Year-over-year and six-month trends in UK IP are steady at a pacifistic 1%. But over the past three months UK IP has now accelerated strongly to a pace of just under 4% (at 3.6%).
UK IP is up strongly in Q2 (see end of the table). The overall gain in MFG is a rate of 2.8% Capital goods are leading the growth in Q2 with a quarterly rise at a pace of 4.9%; Consumer durables are the trailing category with a pace of just +0.3% in Q2. Vehicle sales have been firm, propelling vehicle output up at a 13.4% pace in Q2. Mining activity has been strong at 3.1% in the quarter but its growth patterns seems to show some cooling. Electricity, gas and water output have been weak, at a pace of 0.1% in the quarter, but apart from that the sector’s trends look solid.
| SAAR except M/M | M/M | Jun-07 | May-07 | Jun-07 | May-07 | Jun-07 | May-07 | |||
| UK MFG | Jun-07 | May-07 | Apr-07 | 3-Mo | 3-Mo | 6-mo | 6-mo | 12-mo | 12-mo | Q-2-Date |
| MFG | 0.2% | 0.4% | 0.3% | 3.6% | 4.8% | 0.8% | 0.8% | 1.0% | 1.0% | 2.8% |
| Consumer Durables | 3.4% | -0.9% | -1.5% | 3.9% | -2.3% | -3.2% | -8.6% | 0.5% | -3.1% | 0.3% |
| Consumer Nondurables | -0.6% | 0.6% | 0.4% | 1.6% | 4.1% | -2.6% | 0.2% | -0.2% | -0.1% | 1.4% |
| Intermediate | 0.2% | 0.7% | 0.0% | 3.9% | 2.6% | 3.9% | 1.3% | 0.3% | -0.1% | 2.1% |
| Capital | 0.5% | 0.5% | 0.6% | 6.4% | 7.6% | 3.0% | 1.8% | 3.0% | 2.9% | 4.9% |
| Memo: Detail | 1-Mo% | 1-Mo% | 1-Mo% | 3-Mo | 3-Mo | 6-mo | 6-mo | 12-mo | 12-mo | Q-2-Date |
| Food Drink & Tobacco | -0.2% | 0.3% | 0.1% | 0.8% | 2.4% | -2.3% | 0.0% | -0.4% | 0.6% | 0.4% |
| Textile & Leather | 1.4% | -0.9% | 0.5% | 3.8% | 3.4% | 0.0% | -0.7% | 0.2% | -0.2% | 3.5% |
| Motor Vehicles & Trailer | 2.1% | 0.5% | 1.3% | 17.1% | 17.0% | 13.5% | 9.5% | 4.3% | 2.7% | 13.4% |
| Mining and Quarry | -1.0% | 1.3% | 0.9% | 4.9% | -1.0% | 9.1% | 2.1% | -0.4% | -2.7% | 3.1% |
| Electricity, Gas & Water | 1.0% | 2.4% | -1.2% | 9.0% | 0.8% | 3.1% | 1.0% | 0.7% | 0.1% | 0.1% |
