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- Japan: ** Japan's consumption activity index rebased from 2010=100 to 2011=100.**
- France: Loans (Feb), Foreign Currency Liquidity (Mar)
- Spain: Industrial New Orders and Turnover, Service Sector, Construction Permits (Feb)
- Germany: Tourism, Wages & Earnings, Trade in Goods (Feb)
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Economy in Brief
German PPI Accelerates
The German year-on-year PPI has generally been decelerating since early 2017...
U.S. Leading Economic Indicators Signal Continued Expansion
The Conference Board's Composite Index of Leading Economic Indicators increased 0.3% during March...
Philadelphia Fed Factory Conditions Improve; Prices Jump
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index rose to 23.2 during April...
U.S. Initial Claims for Unemployment Insurance Are Little Changed
Initial unemployment insurance claims slipped to 232,000 (-6.1% y/y) during the week ended April 14...
U.K. Retail Sales Fall
U.K. GDP is expected to cool its jets when the first quarter GDP number is released...
by Tom Moeller May 14, 2015
The overall Final Demand Producer Price Index declined 0.4% during April (-1.3% y/y) following an unrevised 0.2% March increase. It was the fifth decline in the last six months. A 0.2% uptick was expected in the Action Economics Forecast Survey. Prices excluding food & energy fell 0.2% (+0.8% y/y) following a 0.2% rise. It was the third decline in four months and contrasted with expectations for a 0.1% rise.
Final demand goods prices (34% of the total index) fell 0.7% (-5.5% y/y), led lower by a 2.9% decline in energy prices (-24.0% y/y). Gasoline prices fell 4.7%, the first decline in three months, leaving them down 41.4% y/y. Home heating oil prices also declined by 3.0% (-39.7% y/y). Residential natural gas prices fell 2.7% (-16.4% y/y), increasing only twice during the last year, and electric power costs eased 0.3% (+1.7% y/y). Food prices dropped 0.9% (-4.2% y/y), down for the fifth straight month. Egg prices were off 25.3% (-20.7% y/y) and dairy product prices declined 0.8% (-16.2% y/y). Beef & veal prices fell 0.5% (+13.1% y/y).
Final demand prices for goods excluding food & energy edged 0.1% lower (+0.3% y/y) and they've been unchanged since July. Passenger car prices were off 0.8% (+1.4% y/y) while furniture prices were unchanged, up 2.0% y/y. Light motor truck prices slipped 0.1% (+2.7% y/y). Private capital equipment prices were unchanged (1.3% y/y).
Services prices (64% of the total index) eased 0.1% (+0.9% y/y), the third decline in four months. Final demand trade services prices fell 0.8% (+1.0% y/y). Prices for transportation of passengers were unchanged (-3.3% y/y). Prices for transportation and warehousing of goods slipped 0.1% (-1.4% y/y), falling for the last five months.
Inching up by 0.1% for the third straight month (1.7% y/y) were construction prices for final demand (2% of the total index).
Intermediate demand prices of processed goods declined 1.1% (-7.8% y/y), the ninth straight monthly decline. Services prices for intermediate demand increased 0.5% (1.8% y/y). Construction prices improved 0.1% (1.6% y/y).
The PPI data are contained in Haver's USECON database with further detail in PPI and PPIR. The expectations figures are available in the AS1REPNA database.
Producer Price Index (SA, %) | Apr | Mar | Feb | Apr Y/Y | 2014 | 2013 | 2012 |
---|---|---|---|---|---|---|---|
Final Demand | -0.4 | 0.2 | -0.5 | -1.3 | 1.6 | 1.3 | 1.9 |
Excluding Food & Energy | -0.2 | 0.2 | -0.5 | 0.8 | 1.7 | 1.5 | 1.9 |
Goods | -0.7 | 0.3 | -0.4 | -5.5 | 1.3 | 0.8 | 1.7 |
Foods | -0.9 | -0.8 | -1.6 | -4.2 | 3.2 | 1.7 | 3.0 |
Energy | -2.9 | 1.5 | 0.0 | -24.0 | -1.0 | -0.8 | 0.2 |
Goods Excluding Food & Energy | -0.1 | 0.2 | -0.1 | 0.3 | 1.5 | 1.1 | 1.8 |
Services | -0.1 | 0.1 | -0.5 | 0.9 | 1.8 | 1.6 | 1.9 |
Construction | 0.1 | 0.1 | 0.1 | 1.7 | 3.0 | 1.8 | 2.9 |
Intermediate Demand - Processed Goods | -1.1 | -0.1 | -0.6 | -7.8 | 0.6 | 0.0 | 0.5 |