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EMU Trade and Current Account Surplus Rise As Trade Flows Ease
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Initial claims for unemployment insurance increased 8,000 to 216,000 (1.9% y/y) during the week ending July 13...
Japan's Trade Deficit Narrows
Japan sits in a position where it risks being collateral damage in a U.S.-China trade war...
by Robert Brusca August 5, 2008
Central banks are not having good luck with inflation. Of
course, critics will say that inflation fighting has little to do with
luck and that is true enough. The PPI is not a targeted rate by the ECB
so in some sense it can be anything and it doesn’t matter. But we know
it matters and that PPI prices feed into sectors and become costs for
consumer prices so a surging PPI is not good news at all.
| Euro Area and UK PPI Trends | ||||||
|---|---|---|---|---|---|---|
| M/M | Saar | |||||
| Euro Area -13 | Jun-08 | May-08 | 3-Mo | 6-Mo | Yr/Yr | Y/Y Yr Ago |
| Total excl Constructions | 0.9% | 1.2% | 12.8% | 11.1% | 8.0% | 2.3% |
| Excl Energy | 0.4% | 0.3% | 4.4% | 5.5% | 4.0% | 3.1% |
| Capital Goods | 0.2% | 0.2% | 2.5% | 3.0% | 2.0% | 1.9% |
| Consumer Goods | 0.2% | 0.1% | 2.1% | 3.6% | 4.5% | 1.6% |
| Intermediate & Capital Goods | 0.4% | 0.4% | 5.6% | 6.5% | 3.8% | 3.9% |
| Energy | 2.7% | 4.1% | 41.9% | 29.9% | 21.4% | -0.5% |
| MFG | 0.7% | 1.3% | 11.0% | 9.5% | 6.9% | 2.6% |
| Germany | 0.9% | 1.0% | 12.5% | 10.9% | 6.7% | 1.7% |
| Excl Energy | 0.3% | 0.4% | 3.9% | 4.5% | 3.0% | 2.8% |
| France | 0.7% | 1.3% | 11.7% | 9.2% | 7.3% | 1.9% |
| Excl Energy | 0.4% | 0.3% | 3.9% | 4.7% | 3.8% | 2.6% |
| Italy | 0.8% | 1.5% | 11.1% | 10.8% | 8.2% | 2.7% |
| Excl Energy | 0.5% | 0.2% | 5.1% | 6.4% | 4.2% | 3.2% |
| UK | 2.0% | 2.6% | 32.2% | 22.0% | 19.5% | 1.2% |
| Excl Energy | 0.8% | 1.4% | 12.9% | 11.3% | 7.2% | 2.9% |
| Euro Area 13 Harmonized PPI excluding Construction | ||||||
| The EA 13 countries are Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Slovenia | ||||||
