The EMU FLASH PMI indicators moved in opposite directions in September. This should not be too much of surprise but neither should the results be misconstrued. And there is some danger in that. EMU is not stabilizing as much as it [...]
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 19 2012Japan Indicators Show Softness
Japan's economic indices show faltering economic momentum. The economy-watcher gauge and its forward-looking measure are both easing. The NTC/Markit manufacturing sector gauge is weaker. The Teikoku manufacturing gauge echoes that [...]
- Global| Sep 14 2012
Industrial Production Sags in August
Industrial production weak month, still up on quarter IP fell sharply in August ( the Fed had this number in its pocket at the FOMC meeting yesterday) led by a 3.7% drop in utilities output. But MFG alone also fell sharply, dropping [...]
- Global| Sep 14 2012
Goods Price Trends Turn Lower Faster - Who Cares as Fed Shifts to Overdrive
Inflation is remaining moderate. But the weakness in core prices this month may not be as widespread as a 0.1% core rise would have you believe. It is always dodgy to try to judge inflation trends when energy prices are gyrating. The [...]
- Global| Sep 14 2012
Can't Tell a Retail Sales Report by Its Headline
Retail sales seemed to surge in August even as July's gain was cut back to +0.6% from +0.8%. But reality is a bit grimmer. The retail sales gain ex motor vehicle sales stands up at 0.8% but then if you subtract gas station sales from [...]
- Global| Sep 13 2012
Will Stubborn PPI Core Give Fed Pause?
The PPI is the most volatile and the least important of the "major" US gauges of inflation. Still it does send a signal and we prefer to look at the components of the PPI that will feed most directly into the CPI since the Fed places [...]
- Global| Sep 13 2012
OECD Sees Slowdowns
The OECD LEISs show slowdowns across most of EMU as well as for EMU itself. China is in "official" slowdown mode. The US escapes that designation as its reading is above 100. Still, the US measure has slipped a tick month-to month but [...]
- Global| Sep 11 2012
UK Balance Shrinks as Trade Flows Slow
The UK trade balance improved moving to a smaller deficit position in July as exports rebounded strongly from a very weak June, gaining back what they had lost. But imports fell, building on losses over the last four months. Year- [...]
- Global| Sep 11 2012
UK Balance Shrinks as Trade Flows Slow
The UK trade balance improved moving to a smaller deficit position in July as exports rebounded strongly from a very weak June, gaining back what they had lost. But imports fell, building on losses over the last four months. Year- [...]
- Global| Sep 06 2012
German Orders Mark Slight Rebound in July
paragraphs German Orders and Sales By Sector and Origin Real and SA % M/M % SAAR Jul'12 Jun'12 May'12 3Mo 6Mo 12Mo YrAgo Q-2-D Total Orders % % % % % % % % Foreign 3.0% 1.7% -3.8% 3.2% -0.2% -0.8% 13.1% -3.3% Domestic 1.3% -0.8% 1.7% [...]
- Global| Sep 06 2012
German Orders Mark Slight Rebound in July
German orders rose in July by 0.5%, more than expected. Foreign orders crept higher by 0.1% while domestic orders advanced by 1% on the month. Over three-months and six-months foreign orders are up and their pace of growth is steady. [...]
- Global| Sep 05 2012
E-Zone Continues to Slip as MFG Slows Its Rate of Descent and Services Speeds Its Up
Europe’s PMIs continue to slip. The services sector deteriorated in August but MFG actually firmed its index although still held below 50 indicating an erosion of manufacturing sector output. Germany’s services sector took a big step [...]
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