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Economy in Brief
German PPI Rises at Nine-Month High Pace
The German PPI gained 0.2% in June on the heels of a 0.6% rise in May...
U.S. Leading Economic Indicators Improve
The Conference Board's Composite Index of Leading Economic Indicators increased 0.5% (5.8% y/y) during June...
Philadelphia Fed Factory Conditions Recover; Prices Surge
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index rebounded to 25.7 during July...
U.S. Initial Unemployment Insurance Claims Hit Lowest Since 1969
Initial claims for unemployment insurance dropped to 207,000 during the week ended July 14...
Japan's Trade Deficit Swings Back to Surplus (Small Surplus)
Japan's early June trade results show a goods trade position having swung back to surplus in June from deficit in May...
by Robert Brusca October 17, 2007
Japan’s economic signals took a turn for the better in August as the sector indexes for manufacturing and mining as well as for the services sector (the tertiary index) advanced strongly in August. Each of these sectors show the highest readings in their respective ranges since February 1993. The manufacturing and mining index is on a strong surge. The tertiary index is slower but steadily gaining trend.These readings come as the IMF in its twice-yearly World Economic Outlook (WEO) warned the BOJ not to hike rates too soon. Japan’s recent economic readings have been erratic. Its price trends have not completely set the event of deflation behind it. So while these sector readings are good news they do not yet make the needed clear case for solid growth in Japan.
| Recent Months | Moving Averages | Extremes; Range | |||||||
| Aug-2007 | Jul-2007 | Jun-2007 | 3-Mo | 6-Mo | 12-Mo | Max | Min | %-Tile | |
| Mining and MFG | 111.9 | 108.1 | 108.5 | 109.5 | 108.4 | 108.2 | 111.9 | 87.7 | 100.0% |
| Tertiary | 111.3 | 109.9 | 110.3 | 110.5 | 110.1 | 109.7 | 111.3 | 91.0 | 100.0% |
| Ranges, Max, Min since 1993 | |||||||||
