Construction spending fell 0.6% in July with private spending falling 0.4% and public spending dropping 1.4%. Within the private sector, residential spending continued to expand, gaining 0.8% in the month while nonresidential spending [...]
Introducing
Robert Brusca
in:Our Authors
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.
Publications by Robert Brusca
Global| Sep 01 2017U.S. Construction Spending Erodes in July
- Global| Sep 01 2017
U.S. ISM Manufacturing Jumps in August
The ISM manufacturing index moved up sharply to 58.8 in August from 56.3 in July. The regional Fed manufacturing surveys have been very strong and are fully consistent with this result. This month was unusual as the U.S. employment [...]
- Global| Sep 01 2017
Japan's Manufacturing PMI Ticks Higher in August
Japan's manufacturing diffusion PMI gains to 52.2 in August from 52.1 in July. The manufacturing sector is showing growth, but it has no momentum. As it turns out, that is a theme for early PMI reports in Asia. The August reading is a [...]
- Global| Aug 31 2017
EMU Unemployment Rate Steadies Employment Growth Rates in U.S., Germany and EMU Converge
Unemployment in the EMU area was unchanged at 9.1% in July. However, the number unemployed rose by 0.5%, a sharp difference from June's 0.9% decline. Still, unemployment rates are unaffected for the region as a whole. But 10 of the [...]
- Global| Aug 30 2017
EMU Indexes Continue to Advance As Italy Joins the Parade
Perhaps the most surprising development this month is the sharp improvement in Italy's index. The overall EMU sentiment reading rose to 111.9 in August from 111.3 in July (a gain of 0.5%). The Italian gauge jumped by 3.4%, the second [...]
- Global| Aug 29 2017
German Confidence Leads a Happy Europe
Good times in the euro area The GfK survey somehow magically surveys (projects) German confidence for the month ahead. The reading for September has ticked up from its August level to reach a new high in the series (it dates from [...]
- Global| Aug 28 2017
EMU Money Supply Is Flat and Credit Growth Is Off Peak
In the wake of the Federal Reserve's monetary conclave in the wilds of Jackson Hole Wyoming (albeit 'wilds' with room service), we find that global monetary conditions remain as they have been. This, of course, is not surprising since [...]
- Global| Aug 25 2017
IFO Tips Back from the Heights
Still an exceptionally strong report The IFO continues to show exceptionally strong readings. This month's Markit diffusion report also produced news of more strength in the industrial sector although the German services sector [...]
- Global| Aug 25 2017
Durable Goods Orders Ride the Wild Monthly Roller Coaster to Nowhere; Moderate Expansion Continues Under the Thin [...]
U.S. durable goods order plunged 6.8% in July, more than offsetting their 6.4% surge in June. Excluding transportation orders gained pace, rising by 0.5% in the month after gaining a thin 0.1% in June. Orders (ex-transportation) are [...]
- Global| Aug 24 2017
INSEE Industry Indicator Reaches Near Decade High
The French industry climate gauge at 111.3 in August is up from 108.1 in July and at its highest reading since December 2007, logging its highest reading in nearly a decade. The industrial climate gauge standing is in the 77th [...]
- Global| Aug 23 2017
EMU PMI Ticks Higher As Manufacturing and Services Diverge
In the EMU, manufacturing carries the day to move the sticks higher for the overall PMI gain as the service sector reading steps backward in August. The EMU manufacturing gauge gained 0.8 points in August while the services gauge lost [...]
- Global| Aug 22 2017
FHFA U.S. Home Prices Tick Higher in June
The FHFA home price tracker is put together a bit more scientifically than the NAR existing home price index. Still, over broad periods, the two indexes track relatively well. Over short periods, they can be quite different. The NAR [...]
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