Recent Updates
- US: Consumer Sentiment (Aug-prelim), Import/Export Prices (Jul)
- US: Consumer Sentiment Detail (Aug-prelim)
- US: Vehicle Miles Driven by State (Jun)
- Bulgaria: Agricultural PPI (Q2) Central Bank Survey (Jul)
- Blue Chip: Blue Chip Economic Indicators (Aug)
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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 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% |