Recent Updates
- China: International Trade (Feb-Final)
- US: Wholesale Trade (Jan)
- Flash PMIs: Australia, Japan, France, Germany, Euro Area, US (Mar)
- Mauritius: IP (Q4)
- Canada: Retail Trade (Jan), CPI (Feb)
- Canada Regional: Retail Trade by Province (Jan), CPI by Province (Feb)
- Bosnia: Industrial Production (Feb)
- more updates...
Economy in Brief
U.S. Government Budget Deficit Deepens
The U.S. Treasury Department reported that the federal government budget deficit for February of $234.0 billion...
Wholesale Inventories and Sales Rise
Wholesale inventories increased 1.2% m/m (7.7% y/y) during January...
EMU PMIs Take Grim Turn for the Worse
Manufacturing has continued to plunge while the services metric has stabilized in the past several months by drifting mostly sideways...
U.S. Leading Economic Indicators Rebound
The Conference Board's Composite Index of Leading Economic Indicators increased 0.2% (3.0% y/y) during February...
Philadelphia Fed Manufacturing Index Rebounds but Prices Weaken
The Philadelphia Fed reported in its Manufacturing Business Outlook Survey that the General Business Conditions Index rebounded this month to 13.7...
by Robert Brusca February 28, 2008
Japan’s dip in IP in January is hard to evaluate right now. IP trends are moving lower but the Yr/Yr rate is still steady. The shorter term sequential growth rates, in the table below, show that the recent weakness is an artifact of the 3-month growth rates alone. Six-month growth rates are higher that 12-month rates for Total MFG and total industry. But textiles output, investment goods and minting show erosion between the 6 and 12-month horizons. All sectors and industries see declines in January and all are lower over three months except electricity and gas producers.
| Japan Industrial Production Trends | |||||||
|---|---|---|---|---|---|---|---|
| m/m % | Saar % | Yr/Yr | |||||
| Jan-08 | Dec-07 | Nov-07 | 3-mo | 6-mo | 12-mo | Yr-Ago | |
| Mining & Mfg | -2.0% | 1.4% | -1.6% | -8.3% | 3.2% | 2.5% | 3.2% |
| Total Industry | -2.3% | 1.7% | -1.3% | -7.6% | 3.9% | 2.6% | 2.6% |
| Mfg | -1.9% | 1.4% | -1.6% | -8.3% | 3.4% | 2.5% | 3.2% |
| Textiles | -2.3% | 2.5% | -2.2% | -7.7% | -7.4% | -5.0% | -4.2% |
| Transport | -3.2% | 2.4% | -2.9% | -14.2% | 31.5% | 11.6% | 4.6% |
| Product Group | |||||||
| Consumer Goods | -1.5% | 2.1% | -2.1% | -6.1% | 13.2% | 4.2% | -0.8% |
| Intermediate Goods | -2.6% | 1.3% | -1.1% | -9.4% | 3.6% | 4.3% | 3.8% |
| Investment Goods | -0.4% | -0.6% | -1.9% | -11.1% | -7.6% | -3.4% | 5.8% |
| Mining | -2.9% | 1.1% | -5.9% | -27.2% | -15.9% | -5.1% | 3.5% |
| Electric & Gas | -1.4% | 0.2% | 2.0% | 3.2% | 15.2% | 5.9% | -2.8% |
