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 December 10, 2008
Output plunges in Italy and in France
In France a large part of the drop in IP is the weakened auto
sector. Output in the auto sector fell by 14.3%. Declines, as the table
shows, are widespread. The drops in output in France and in Italy are
worse than those in 2000 -2001. Output drops in France are gathering
momentum across sectors with the exception of capital goods. Italy
shows much the same situation with sequential growth rates indicating a
quickening pace of decline across sectors –the consumer sector being an
unpersuasive exception. In the quarter to date both countries show
sharp declines in output are underway in the -17% to -18% range
(annualized). Europe is in the throes of the severe output decline
phase of the recession. There are riots in Greece that mix some civil
unrest in with protests about how the economy is being managed.
| French IP excluding Construction | |||||||
|---|---|---|---|---|---|---|---|
| Saar except m/m | Oct-08 | Sep-08 | Aug-08 | 3-mo | 6-mo | 12-mo | Quarter-to-date |
| IP total | -2.7% | -0.8% | -0.5% | -14.7% | -12.3% | -7.2% | -18.3% |
| Consumer Goods | -0.4% | -0.2% | -0.6% | -4.6% | -1.8% | -3.3% | -4.3% |
| Capital Goods | -0.5% | 0.8% | 0.0% | 1.0% | -4.9% | 0.0% | 0.0% |
| Intermediate Goods | -3.5% | -1.7% | -0.9% | -22.0% | -16.3% | -10.1% | -26.0% |
| Memo | |||||||
| Auto | -14.3% | -5.9% | -0.2% | -58.2% | -44.4% | -29.2% | -69.3% |
| Italy IP excluding Construction | |||||||
| Saar except m/m | Oct-08 | Sep-08 | Aug-08 | 3-mo | 6-mo | 12-mo | Quarter-to-date |
| IP-MFG | -1.1% | -2.9% | 0.1% | -14.6% | -12.9% | -6.8% | -16.7% |
| Consumer Goods | 0.8% | -3.3% | 0.6% | -7.6% | -11.1% | -4.6% | -7.4% |
| Capital Goods | -1.5% | -2.7% | -1.1% | -19.1% | -18.2% | -8.7% | -19.9% |
| Intermediate Goods | -2.1% | -3.5% | 0.9% | -17.5% | -13.4% | -8.3% | -22.3% |
| Memo | |||||||
| Transportation | -5.8% | -5.6% | 1.7% | -33.4% | -30.5% | -19.8% | -42.9% |
