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Economy in Brief
Philadelphia Fed Factory Conditions Improve; Prices Jump
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index rose to 23.2 during April...
U.S. Initial Claims for Unemployment Insurance Are Little Changed
Initial unemployment insurance claims slipped to 232,000 (-6.1% y/y) during the week ended April 14...
U.K. Retail Sales Fall
U.K. GDP is expected to cool its jets when the first quarter GDP number is released...
U.S. Mortgage Loan Applications Rebound; Interest Rates Steady
The MBA total Mortgage Applications Volume Index increased 4.9% last week (1.0% y/y), ...
Japan’s Trade Surplus Returns Even As Trade Flows Slow
While the IMF has just lifted its outlook for growth in 2018, Japan is logging weaker and weaker export and import growth as the year progresses...
by By Robert Brusca October 31, 2007
German retail sales rose in September with downward revision to the earlier month showing a strong 2.3% rise in real ex-auto sales. The series is up by 5.1% from one year ago, a pretty good Yr/Yr rise. But in the third quarter this gain still only leaves sales up at a 1.4% annual rate. The revival in sales was across the main retail categories. While the rise of 1.4% in the quarter is not very strong it is in line with what exceptions have been for German retailing where the outlook has been set low all year long.
| German Real and Nominal Retail Sales | ||||||||
|---|---|---|---|---|---|---|---|---|
| Nominal | Sep-07 | Aug-07 | Jul-07 | 3-MO | 6-MO | 12-MO | YrAgo | New QTR Saar |
| Retail Ex auto | 2.6% | -1.3% | 0.6% | 8.2% | 4.8% | 2.4% | 5.6% | 1.7% |
| Motor Vehicle and Parts | #N/A | 3.6% | 0.9% | #N/A | #N/A | #N/A | 15.2% | #N/A |
| Food, Beverages & Tobacco | 3.4% | -1.2% | -0.1% | 8.5% | 4.7% | 1.9% | 5.1% | -0.9% |
| Clothing footwear | 3.4% | 0.2% | 0.2% | 16.0% | 7.3% | 14.0% | 3.4% | 1.4% |
| Real | ||||||||
| Retail Ex auto | 2.3% | -1.6% | 0.7% | 6.0% | 3.0% | 1.4% | 5.1% | 1.4% |
