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Economy in Brief
U.S. Financial Accounts Show Moderate Borrowing, Average Ratio to GDP
rowing in U.S. financial markets slowed in Q2 2018, according to the Federal Reserve's Financial Accounts data...
U.S. Small Business Optimism Diminishes
The NFIB Small Business Optimism Index declined to 104.8 during November...
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Gasoline prices declined to an average $2.42 per gallon (-2.6% y/y)...
ZEW Assessments Shift and Weaken in December
The economic situation has worsened everywhere...
U.S. JOLTS: Job Openings and Hires Rates Improve
The Bureau of Labor Statistics reported that the total job openings rate improved to 4.5% during October...
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% |
