Recent Updates
- Euro area: Flash Consumer Confidence (Jun)
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- US: Philadelphia FRB Mfg Business Outlook Survey (Jun)
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Economy in Brief
U.S. FHFA House Price Index Improves Minimally
The FHFA U.S. house price index nudged 0.1% higher (6.4% y/y) during April...
U.S. Initial Unemployment Insurance Claims Down Slightly
Initial claims for unemployment insurance were 218,000 during the week ended June 16...
U.S. Existing Home Sales Decline While Prices Rise
The NAR U.S. existing home sales fell 0.4% (-3.0% y/y) during May to 5.430 million units (AR)...
U.S. Current Account Deficit Widens
The U.S. current account deficit rose to $124.1 billion during Q1 2018...
German PPI Sees Pressure, But Core Rate Is Much Less Affected
Germany has a history of being ‘unreasonable’ about inflation...
by Robert Brusca December 20, 2007
…points lower for E-zone readings to come.
The Belgian National bank releases its barometer indices ahead
of the EU each month. The Belgian indices turn out to be harbingers of
the EU releases to come. While Belgium is a small European country it
is right in the middle of the Zone and its trends in commerce tend to
mimic those of the Zone itself and of Germany. In December the rise in
the total industry index has given way to drop a decline. MFG has
posted larger drop. The wholesale/retail sector reading is suddenly
sharply lower. It would be a very bad sign if the EU and German indices
were turn as sharply as the Belgian sector index has. Construction also
has turned negative after posting a reasonably strong reading for two
months in a row.
| Belgium National Bank Indices | ||||||
|---|---|---|---|---|---|---|
| Dec-07 | Nov-07 | Oct-07 | 3-Mo Change | 6-Mo Change | 12-Mo Change | |
| Total Industry | -1.9 | 1.4 | -0.1 | -3.4 | -7.4 | -4.4 |
| Manufacturing | -1.8 | -0.5 | -1.8 | -3.2 | -8.3 | -4.2 |
| Production | 4.0 | 1.0 | -1.0 | 4.0 | -4.0 | 3.0 |
| Domestic Orders | -4.0 | 6.0 | -3.0 | -1.0 | -9.0 | -7.0 |
| Foreign Orders | 4.0 | 2.0 | 3.0 | -4.0 | -7.0 | -1.0 |
| Prices | -1.0 | 2.0 | 3.0 | -4.0 | -14.0 | -12.0 |
| Current assessments | ||||||
| Total Orders | -3.0 | -4.0 | -6.0 | -1.0 | -6.0 | -7.0 |
| Foreign Orders | -3.0 | -5.0 | -5.0 | -4.0 | -7.0 | -3.0 |
| Inventories | 6.0 | 5.0 | 2.0 | 7.0 | 13.0 | 5.0 |
| Wholesales & Retail | -3.3 | 8.2 | 6.7 | -3.3 | -7.5 | -1.3 |
| Construction | -0.7 | 3.7 | 1.0 | -4.1 | -3.0 | -8.4 |
| Business Services | #N/A | 12.8 | 12.8 | #N/A | #N/A | #N/A |
| Comparisons: | Changes lag one month | |||||
| EU Index: Industry | #N/A | 3.0 | 2.0 | -2.0 | -2.0 | -3.0 |
| Germany Index: Industry | #N/A | 3.0 | 3.0 | -5.0 | -5.0 | -8.0 |
| Compare: BNB Index | -- | -- | -- | -1.9 | -2.8 | -2.1 |
