Recent Updates
- US: Consumer Sentiment (Aug-prelim), Import/Export Prices (Jul)
- US: Consumer Sentiment Detail (Aug-prelim)
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- Bulgaria: Agricultural PPI (Q2) Central Bank Survey (Jul)
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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 September 20, 2007
Manufacturing orders are sharply lower in France in July following a pattern we have seen among previous European reports of industrial orders in July. Like those reported earlier, French new orders, which dropped sharply in July, merely offset a similarly strong rise in June. Frances Yr/Yr trend remains firmly higher with Yr/Yr rates of growth of 15.5% overall and 14.8% for foreign orders. Despite the drop in July, the three-month growth is strong and accelerating compared to the six-month rate. However, in the new quarter (Q3) orders are growing at a pace of only 1.3% annualized. This could be the start of a slowing in orders as the euro has climbed and has just recently broken to a new all-time high above $1.40. This is what will bear watching in the months ahead. As current data are for July, and the Euros new peak is in mid-September.
French Orders | ||||||
---|---|---|---|---|---|---|
Saar exept m/m | Jul-07 | Jun-07 | May-07 | 3-mo | 6-mo | 12-mo |
Total | -2.9% | 3.4% | 3.1% | 14.6% | 4.9% | 15.5% |
Foreign | -2.0% | 2.2% | 3.5% | 16.0% | 4.8% | 14.8% |