Recent Updates
- North Macedonia: Loans Granted to Households (Jul)
- Retail & Wholesale Trade (Jun)
- Mexico: Service Sector (Jun)
- Zambia: External Debt (Q2)
- Slovenia: PPI (Jul)
- more updates...
Economy in Brief
U.S. Index of Leading Indicators Fell Again in July
The Conference Board's Composite Leading Economic Indicators Index fell 0.4% m/m...
U.S. Philly Fed General Activity Index Back to Positive Reading in August
The current general activity diffusion index rose nearly 19 points in August to 6.2...
U.S. Unemployment Claims Slightly Lower
Initial claims for unemployment insurance went down 2,000 in the week ended August 13 to 250,000...
Inflation Rages in EMU and Hovers Globally
Inflation in the European Monetary Union in July finalizes at 8.8% year-over-year...
U.S. Retail Sales Hold Steady in July; Nonauto Sales Rise
Total retail sales remained unchanged during July (10.3% y/y)...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Robert Brusca November 20, 2007
We are hearing more concerns about inflation not just inflation risk from Euro area officials. Germany has its core PPI heading lower and the headline as well but not in a clear cut way. Also the declines are slow and energy prices are still threatening. Germany has not had its year/year PPI core rate below 2% since April of 2006 when it rose by 1.8%. The Bundesbank has been issuing such warnings especially Weber. Today Austrian CB president Liebscher says that the harmonized CPI is ‘striking me with concern.’ At the same time groups like the German engineering Association warn of the impact of a too strong euro on the economy. These very clear, well founded, and completely opposite concerns put the ECB in a tough spot.
Germany PPI | |||||||
---|---|---|---|---|---|---|---|
%m/m | %-SAAR | ||||||
Oct-07 | Sep-07 | Aug-07 | 3-mo | 6-mo | 12-mo | 12-moY-Ago | |
MFG | 0.4% | 0.1% | 0.2% | 2.7% | 2.4% | 1.7% | 4.6% |
Ex Energy | 0.3% | 0.0% | 0.4% | 2.5% | 2.6% | 2.4% | 3.0% |
Core: ex food beverages, tobacco & Petroleum |