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- Euro area: Flash Consumer Confidence (Mar)
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Economy in Brief
Philadelphia Fed Manufacturing Index Rebounds but Prices Weaken
The Philadelphia Fed reported in its Manufacturing Business Outlook Survey that the General Business Conditions Index rebounded this month to 13.7...
U.S. Initial Unemployment Insurance Claims Decline
Initial claims for unemployment insurance fell 9,000 in the week ended March 16 to 221,000 from 230,000 the week before...
Canadian Growth: Headed for the Big Sleep or Just Dozing?
Canada, like much of the global economy, is showing sales weakness across sectors...
FOMC Leaves Interest Rates Unchanged and Lowers Expected Growth
The FOMC voted unanimously at today's meeting to leave the federal funds rate target in a range between 2.25% and 2.50%...
U.S. Mortgage Loan Applications Strengthen As Financing Costs Ease
The MBA total Mortgage Applications Index rose 1.6% (1.8% y/y) during the week ending March 15...
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% |
