Recent Updates
- Belgium: BNB Business Survey (Jun)
- UAE: Central Bank Balance SHeet, Foreign Assets, Monetary Aggregates, Monetary Base (May)
- US: FRB Chicago National Activity Index (May)
- Germany: Gross Wages (Q1), Ifo Business Climate (Jun), Tax Receipts (May)
- more updates...
Economy in Brief
U.S. Existing Home Sales and Prices Increase
The National Association of Realtors reported that sales of
existing homes rose 2.5% (-1.1% y/y) during May...
EMU Sector Bifurcation Continues
Services are continuing to move higher boosting the composite private sector index. But manufacturing remains weak...
U.S. Leading Economic Indicators Remain Unchanged
The Conference Board's Composite Index of Leading Economic
Indicators held steady (2.5% y/y) during May following a 0.1% April rise,
revised from 0.2%...
Philadelphia Fed Manufacturing Index Weakens
Considerably
The Federal Reserve Bank of Philadelphia reported that its
General Factory Sector Business Conditions Index declined to 0.3 in June after
May's improvement to 16.6...
U.S. Current Account Deficit Shrinks; Exports Rise and
Imports Fall
The U.S. current account deficit narrowed to $130.4 billion
during Q1'19 from $143.9 billion during Q4'18...
by Robert Brusca August 10, 2007
Upswing is widespread.
The OECD area is on an upswing led by the United States. That is the message from the OECD leading indicators. It is a reassuring one in the face of global credit concerns and equity market meltdown. Indicators show the upswing in the US is the clearest and strongest. It is nearly as strong as the expansion signaled in early 2006. Europe is in an upswing but its acceleration is very mild. Japan has recovery from a very weak set of showings early in 2006 and is now more clearly on the upswing. The OECD prefers its six month signal as the most reliable. Six-month percent changes are plotted in the chart on the left.
| Growth Progression-SAAR | ||||
| 3Mos | 6Mos | 12mos | Yr-Ago | |
| OECD | 5.1% | 3.4% | 2.3% | 3.2% |
| OECD7 | 5.5% | 3.1% | 1.8% | 2.5% |
| OECD Europe | 1.5% | 1.2% | 1.1% | 2.8% |
| OECD Japan | 3.4% | 0.3% | 0.5% | 2.9% |
| OECD US | 8.2% | 4.9% | 2.9% | 2.3% |
