Recent Updates
- US: Business Formation Statistics, Producer Prices (Jul)
- US: Producer Price Indexes Detail by Commodity Detail (Jul)
- Israel: Foreign Trade, Consumer Confidence Survey (Jul)
- Mexico: IP (Jun)
- South Africa: Mining Production (Jun)
- more updates...
Economy in Brief
U.S. Federal Government Budget Deficit Shrinks in July
The U.S. Treasury Department reported a federal budget deficit of $211.1 billion in July...
U.S. Mortgage Applications Rose Slightly in the Latest Week
Mortgage applications increased 0.2% (-62.9% y/y) from one week earlier...
German Inflation Rises
The German inflation rate as measured by the HICP accelerated to 8.4% in July...
U.S. Productivity Declines in Q2, Pushing Unit Labor Costs Higher
Nonfarm business sector productivity fell 4.6% (AR) during Q2'22...
U.S. Small Business Optimism Edged Up in July
The NFIB Small Business Optimism Index edged up to 89.9 in July...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Charles Steindel June 30, 2022
Almost all states saw their real GDP fall in 2022:Q1. The exceptions were New Hampshire, Vermont, Massachusetts, and Michigan (New Hampshire was first with a modest 1.2 percent growth rate.) .
The GDP declines were generally most notable in energy and mining-intensive states, with Wyoming’s output plunging at a 9.7% annual rate, Alaska down 8.2%, North Dakota ,6.3%, West Virginia, 6.1%, New Mexico, 4.7%, Louisiana, 4.3%, Montana, 3.8%, and Oklahoma, 3.7%. Wisconsin, Maryland, and Connecticut had rates of decline very near zero. Elsewhere, only the declines in Hawaii (-3.5%) and Washington (-3.3%) look notably out of like with the nation’s 1.6% rate of decline.
