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)
- more updates...
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 September 14, 2007
Italy joins the trend of EU members with weak IP in July. The UK and Germany are already there. For Italy the weakness is broad-based. Consumer goods output remains negative. Intermediate goods output also remains negative and is moving further in that direction. Only capital goods output is still positive but hovering at a weak rate of growth. The weakening in the Euro area encapsulates its largest and strongest economy, Germany, plus one of its large but weaker members, Italy. It is hard to tell how much it will spread. And we have yet to see what all the financial disturbances will do to growth in September and beyond.
Saar except m/m | Jul-07 | Jun-07 | May-07 | 3-mo | 6-mo | 12-mo |
IP-MFG | -0.4% | -0.7% | 0.4% | -2.9% | -3.8% | -0.2% |
Consumer Goods | 0.5% | -1.5% | 0.3% | -2.5% | -4.1% | -0.6% |
Capital Goods | 0.3% | -0.9% | 1.2% | 2.4% | -2.2% | 3.5% |
Intermediate Goods | -1.5% | 0.0% | 0.6% | -3.3% | -4.3% | -1.4% |
Memo | ||||||
Transportation | -1.1% | 0.5% | 5.6% | 21.5% | 9.7% | 4.6% |