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Economy in Brief
U.S. CPI Unchanged in July with Drop in Energy Prices
Consumer prices were unchanged in July after an outsized 1.3% m/m jump in June...
U.S. Federal Government Budget Deficit Shrinks in July
The U.S. Treasury Department reported a federal budget deficit of $211.1 billion in July...
U.S. Mortgage Applications Rose Slightly in the Latest Week
Mortgage applications increased 0.2% (-62.9% y/y) from one week earlier...
German Inflation Rises
The German inflation rate as measured by the HICP accelerated to 8.4% in July...
U.S. Productivity Declines in Q2, Pushing Unit Labor Costs Higher
Nonfarm business sector productivity fell 4.6% (AR) during Q2'22...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Robert Brusca August 21, 2007
Exports were up more strongly in June than were imports shrinking the Euro area trade deficit in the month. Exports have a reasonably strong history of growth across its main categories. Import growth also has been firm and broad-based. However, manufacturing exports and imports are the slowest year-over-year. Manufacturing exports are rising at an 8.8% pace compared to imports at 7.6%. But over short time horizons both export and import growth has slowed.
| M/M% | % SAAR | ||||
| Jun-07 | May-07 | 3M | 6M | 12M | |
| Balance* | €€ 5,217 | €€ 3,893 | €€ 4,211 | €€ 3,427 | €€ 1,563 |
| Exports | |||||
| All Exports | 1.7% | 0.6% | 8.8% | 4.9% | 10.1% |
| Food and Drinks | -- | 0.5% | 14.7% | 2.3% | 6.0% |
| Raw Materials | -- | 2.3% | 30.0% | 7.4% | 13.6% |
| MFG | -- | 0.8% | 4.6% | -0.1% | 8.8% |
| IMPORTS | |||||
| All Imports | 0.7% | 0.3% | 10.2% | -1.2% | 4.1% |
| Food and Drinks | -- | -0.1% | 15.8% | 7.4% | 6.0% |
| Raw Materials | -- | 2.3% | 14.7% | 5.4% | 16.3% |
| MFG | -- | 1.6% | 4.1% | 4.3% | 7.6% |
| *Eur mlns; mo or period average; Gray shaded areas lag one month | |||||
