Global| Jul 24 2007EMU Orders Continue Strong
Summary
Despite the rising Euro EMU orders continue strong, at least through May. The Euro has not risen by that much this year on a trade weighted basis but it is still extremely strong on a weighted basis in terms of its level compared to [...]
Despite the rising Euro EMU orders continue strong, at least through May. The Euro has not risen by that much this year on a trade weighted basis but it is still extremely strong on a weighted basis in terms of its level compared to historic standards. So far adversity has been avoided and the manufacturing sector seem to continue to flourish.
EMU orders and trend remain strong. Sales growth seems to be a little less robust, however. Main country trends are still quite robust. EU member UK is seeing some weakening as its CBI report also echoed in a release today.
| SAAR except m/m | % m/m | May-07 3-Mo |
May-07 6-mo |
May-07 12-mo |
May-06 12-mo |
May-05 12-mo |
||
| Euro Area Detail | May-07 | Apr-07 | Mar-07 | |||||
| MFG Orders | 1.7% | -0.6% | 2.9% | 16.7% | 10.4% | 8.4% | 12.5% | 0.8% |
| MFG Sales | 0.4% | 0.2% | 0.4% | 4.1% | 5.9% | 5.9% | 7.9% | 2.8% |
| Consumer | 0.2% | 0.1% | 0.1% | 1.6% | 2.5% | 3.7% | 7.9% | 2.8% |
| Capital | 0.3% | 0.3% | 0.5% | 4.9% | 6.8% | 7.5% | 4.1% | 1.6% |
| Intermediate | 0.5% | 0.1% | 0.1% | 10.9% | 11.0% | 4.2% | 7.1% | 2.4% |
| MFG Orders | ||||||||
| Total Orders | 1.7% | -0.6% | 2.9% | 16.7% | 10.4% | 8.4% | 12.5% | 0.8% |
| E-13 Domestic MFG orders | 0.9% | -0.6% | 2.4% | 10.9% | 11.0% | 4.2% | 11.4% | -5.7% |
| E-13 Foreign MFG orders | 3.9% | -1.7% | 4.4% | 28.8% | 12.6% | 13.8% | 13.7% | 4.2% |
| Countries: | May-07 | Apr-07 | Mar-07 | 3-Mo | 6-mo | 12-mo | 12-mo | 12-mo |
| Germany | 3.5% | -1.5% | 1.0% | 12.2% | 16.8% | 12.5% | 13.5% | 1.9% |
| France | 1.1% | 2.4% | 5.3% | 41.2% | 19.6% | 13.3% | 2.7% | -9.1% |
| Italy | 2.5% | -0.8% | 4.9% | 29.9% | 9.7% | 7.0% | 13.6% | 3.6% |
| UK | -3.5% | -6.4% | 5.1% | -18.7% | 1.6% | -1.2% | 2.0% | 0.8% |
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.
