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Economy in Brief
Delay in Release
of Data for Construction, MSIO, Intl Trade, Wholesale Trade, Treasury Statement, Retail Sales, Business Sales & Inventories, and Housing Starts Due to Lapse in Federal Government Funding.
Philadelphia Fed Nonmanufacturing Business Activity Slumps Again in January
The Philadelphia Fed reported that its Nonmanufacturing Business Index of current conditions at the company level slumped further to -0.2 in January...
ZEW Assessments Almost Universally Fall
The ZEW indexes each month center on Germany where the survey occurs and where the financial experts reside...
U.S. Industrial Production Celebrates 100 Years With An Increase
In the 100th anniversary of it release, industrial production rose a greater-than-expected 0.3% (3.9% year-on-year) during December...
U.K. Retail Sales Begin to Lose Momentum
U.K. retail sales fell by a sharp 1% in December...
by Robert Brusca September 14, 2007
German inflation trends are mixed but on balance softer, kinder.
Inflation trends in Germany are cooling for both the core and headline in terms of their respective sequential rates of growth. The diffusion calculations at the table bottom look at accelerating Vs decelerating trends. A diffusion value above 50% shows more acceleration while below 50% shows less. While inflation has accelerated Yr/Yr over six months and three months it is ratcheting lower. The drop in Germany inflation’s pace seems to be authentic. As the Euro area's strongest economy and one where growth is also export-led, we should wonder how much of this is being induced by the strength of the euro. We have seen already reports of irregular output and sharply reduced orders growth in Germany. Is that the price Germany is paying for having such good inflation results?
| Mo/Mo % | Saar % | Yr/Yr | |||||
| Aug-07 | Jul-07 | Jun-07 | 3-Mo | 6-Mo | 12-Mo | Yr Ago | |
| HICP Total | -0.1% | 0.2% | 0.2% | 1.2% | 1.8% | 2.0% | 1.7% |
| Core | 0.1% | 0.2% | 0.1% | 1.6% | 1.8% | 2.2% | 0.8% |
| CPI | |||||||
| All | 0.1% | 0.3% | 0.1% | 1.8% | 2.7% | 2.0% | 1.7% |
| CPI excl Food & Energy | 0.2% | 0.1% | 0.1% | 1.5% | 2.0% | 2.0% | 0.8% |
| Food | 1.1% | 0.6% | 0.1% | 7.2% | 4.3% | 2.4% | 2.6% |
| Alcohol | 0.0% | 0.0% | 0.3% | 1.1% | 1.7% | 2.1% | 2.0% |
| Clothing & Shoes | -0.4% | -0.6% | -0.2% | -4.8% | -3.2% | 0.9% | -0.8% |
| Rent & Utilities | 0.1% | 0.2% | 0.2% | 1.8% | 1.4% | 1.4% | 2.7% |
| Health Care | 0.4% | 0.4% | 0.5% | 5.2% | 3.0% | 1.4% | 1.0% |
| Transport | -0.9% | -0.1% | 0.0% | -3.9% | 2.7% | 1.9% | 2.8% |
| Communication | 0.1% | -0.3% | -0.2% | -1.7% | -0.4% | 0.7% | -3.7% |
| Recreation & Culture | -1.1% | 1.3% | -0.1% | 0.4% | -0.6% | 0.8% | -0.4% |
| Education | 0.8% | -0.1% | 0.3% | 4.1% | 61.2% | 28.7% | 2.5% |
| Restaurant & Hotel | 0.0% | 0.0% | 0.0% | 0.0% | 1.6% | 2.6% | 1.0% |
| Other | 0.2% | 0.1% | 0.2% | 1.8% | 1.4% | 2.3% | 0.9% |
| Diffusion | -- | -- | -- | 45.5% | 36.4% | 72.7% | -- |
| Type: | Diffusion: Current Compared to | 6-mo | 12-mo | Yr-Ago | -- | ||
