Recent Updates
- US: Monthly Treasury Statement, Wholesale Trade (Jun), Consumer Prices (Jul)
- Brazil: Retail Trade (Jul)
- North Macedonia: Central Bank Bills (Jul)
- Albania: Banking system liabilities (Q2)
- more updates...
Economy in Brief
U.S. Mortgage Applications Rose Slightly in the Latest Week
Mortgage applications increased 0.2% (-62.9% y/y) from one week earlier...
U.S. Productivity Declines in Q2, Pushing Unit Labor Costs Higher
Nonfarm business sector productivity fell 4.6% (AR) during Q2'22...
U.S. Small Business Optimism Edged Up in July
The NFIB Small Business Optimism Index edged up to 89.9 in July...
U.S. Gasoline & Crude Oil Prices Continue Weakening
Retail gasoline prices declined to $4.04 per gallon (+27.3% y/y) last week...
OECD LEIs Point to a Ramp Down in Growth - and Nothing More
The OECD metrics this month show a broad tendency for growth to slow down...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Robert Brusca August 16, 2007
In the new third quarter, UK real retail sales excluding autos were up strongly - in July. Real retail sales are rising at a 7% annual rate in the new quarter. Real ex-auto retail sales are ramping up in terms of 3-month and 6-month trends as well. The UK is one country in the EU where consumers seem to have stepped up. In Germany growth has been strong but the consumer has lagged. In France recent stock market events have been worse than in other countries and its business surveys have weakened. The consumer remains the key to the next leg up in growth in Europe and only in the UK do we have evidence that the consumer is ready to comply.
Nominal | Jul-07 | Jun-07 | May-07 | 3-MO | 6-MO | 12-MO | Yr Ago |
Retail Total | -0.2% | 0.3% | -0.1% | 0.0% | 6.5% | 3.5% | 3.3% |
Food Beverages & Tobacco | -0.4% | -0.5% | -0.3% | -4.4% | 0.6% | 0.8% | 5.3% |
Clothing Footwear | -0.5% | 0.2% | -4.3% | -17.1% | 9.7% | 1.6% | 5.6% |
Real | |||||||
Retail ex auto | 0.7% | 0.4% | 0.4% | 6.4% | 8.1% | 4.4% | 4.1% |