Global| Dec 20 2007Belgium Bank Index Weakens Again
Summary
…points lower for E-zone readings to come. The Belgian National bank releases its barometer indices ahead of the EU each month. The Belgian indices turn out to be harbingers of the EU releases to come. While Belgium is a small [...]
…points lower for E-zone readings to come.
The Belgian National bank releases its barometer indices ahead
of the EU each month. The Belgian indices turn out to be harbingers of
the EU releases to come. While Belgium is a small European country it
is right in the middle of the Zone and its trends in commerce tend to
mimic those of the Zone itself and of Germany. In December the rise in
the total industry index has given way to drop a decline. MFG has
posted larger drop. The wholesale/retail sector reading is suddenly
sharply lower. It would be a very bad sign if the EU and German indices
were turn as sharply as the Belgian sector index has. Construction also
has turned negative after posting a reasonably strong reading for two
months in a row.
| Belgium National Bank Indices | ||||||
|---|---|---|---|---|---|---|
| Dec-07 | Nov-07 | Oct-07 | 3-Mo Change | 6-Mo Change | 12-Mo Change | |
| Total Industry | -1.9 | 1.4 | -0.1 | -3.4 | -7.4 | -4.4 |
| Manufacturing | -1.8 | -0.5 | -1.8 | -3.2 | -8.3 | -4.2 |
| Production | 4.0 | 1.0 | -1.0 | 4.0 | -4.0 | 3.0 |
| Domestic Orders | -4.0 | 6.0 | -3.0 | -1.0 | -9.0 | -7.0 |
| Foreign Orders | 4.0 | 2.0 | 3.0 | -4.0 | -7.0 | -1.0 |
| Prices | -1.0 | 2.0 | 3.0 | -4.0 | -14.0 | -12.0 |
| Current assessments | ||||||
| Total Orders | -3.0 | -4.0 | -6.0 | -1.0 | -6.0 | -7.0 |
| Foreign Orders | -3.0 | -5.0 | -5.0 | -4.0 | -7.0 | -3.0 |
| Inventories | 6.0 | 5.0 | 2.0 | 7.0 | 13.0 | 5.0 |
| Wholesales & Retail | -3.3 | 8.2 | 6.7 | -3.3 | -7.5 | -1.3 |
| Construction | -0.7 | 3.7 | 1.0 | -4.1 | -3.0 | -8.4 |
| Business Services | #N/A | 12.8 | 12.8 | #N/A | #N/A | #N/A |
| Comparisons: | Changes lag one month | |||||
| EU Index: Industry | #N/A | 3.0 | 2.0 | -2.0 | -2.0 | -3.0 |
| Germany Index: Industry | #N/A | 3.0 | 3.0 | -5.0 | -5.0 | -8.0 |
| Compare: BNB Index | -- | -- | -- | -1.9 | -2.8 | -2.1 |
Robert Brusca
AuthorMore in Author Profile »Robert A. Brusca is Chief Economist of Fact and Opinion Economics, a consulting firm he founded in Manhattan. He has been an economist on Wall Street for over 25 years. He has visited central banking and large institutional clients in over 30 countries in his career as an economist. Mr. Brusca was a Divisional Research Chief at the Federal Reserve Bank of NY (Chief of the International Financial markets Division), a Fed Watcher at Irving Trust and Chief Economist at Nikko Securities International. He is widely quoted and appears in various media. Mr. Brusca holds an MA and Ph.D. in economics from Michigan State University and a BA in Economics from the University of Michigan. His research pursues his strong interests in non aligned policy economics as well as international economics. FAO Economics’ research targets investors to assist them in making better investment decisions in stocks, bonds and in a variety of international assets. The company does not manage money and has no conflicts in giving economic advice.
More Economy in Brief
