Euro Area manufacturing output fell by 2.1% in March. The 21.2% drop Yr/Yr exceeds the 20.2% drop posted in February. The sequential growth rate rates seem to have stabilized at a very torrid pace of decline just under 30% at an [...]
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| May 13 2009Euro Area IP Drops Again All Sectors Still Weak
- Global| May 12 2009
The UK Halts Its String Of MFG Output Declines
In the UK overall MFG output is flat in March. Despite the fall, the output of durable consumer goods is up in March and its trend shows a diminishing pace of decline. Consumer nondurable output is up for three months in a row and [...]
- Global| May 11 2009
OECD LEIs The Long View
Taken in a rather broad perspective the downturn according to the OECD’s LEIs which are cyclically adjusted is quite severe; the worst since 1970, at least. But the US and several counties in OECD Europe are showing signs of doing [...]
- Global| May 08 2009
German Industrial Output Halts Its Strong Of Declines
German industrial production halted its string of six consecutive declines with a flat result in March. Over three months the negative growth rate for IP has flattened but at a still horrific -33% (saar). Ironically, the capital goods [...]
- Global| May 07 2009
German Orders In Surprise Rebound
Foreign orders that had been falling a bit faster than those from domestic sources were up by a sharp 5.6% m/m in May compared to a rise of 1.1% for orders from domestic sources. German factory orders from outside the 16-nation euro [...]
- Global| May 06 2009
EMU Services: In Near Lockstep With US
April’s jump is the second largest increase in Markit’s e-Area Services PMI index since late 2000. The April surge brings the index up to 43.76 still well below a neutral reading of 50 but that still leaves the index relatively low in [...]
- Global| May 06 2009
German Industrial Output Halts Its Strong Of Declines
German industrial production halted its string of six consecutive declines with a flat result in March. Over three months the negative growth rate for IP has flattened but at a still horrific -33% (saar). Ironically, the capital goods [...]
- Global| May 05 2009
Sharp, Widespread, PPI Drop Puts ECB On The Spot For A Rate Cut
The PPI is not the ECB’s mandated inflation variable. The central bank prefers the broader consumer-based HICP. But the drop in the PPI excluding construction at -0.8% in March, at -10.5% over three months (saar), at -12.3% over 6 [...]
- Global| May 04 2009
Europe Begins to Cut Its Losses
Europe’s PMI readings bounced sharply in April across EMU nations. France made the second largest monthly rise at 3.59 points just above the UK’s 3.35 point gain. From its cycle low, the UK has made the greatest gain rising by 8 [...]
- Global| Apr 30 2009
Japan IP Slows Its Rate Of Decline... In Monthly Trends Only
There is actually a bounce in output in Japan this month as over MFG output rose by 1.6% in March. That bounce reduced the annual rate of decline of Japan’s output to a pace of -53.1% over three-months. So while the monthly gain seems [...]
- Global| Apr 28 2009
Japan Retail Sales Continue to Drop
The Year-over-year the drop in Japan’s retail sales is worsening. But overall seasonally adjusted sales while down by a sharp 1.1% m/m in March are not accelerating their drop over three months compared to six months. The 5.6% annual [...]
- Global| Apr 27 2009
IFO Is Up In Month Diffusion, Indices Gain Too
The IFO index in German rose in April sparking some optimism that the index has made its financial cycle low. Sectors are improving across the board. MFG improved forma diffusion reading of -42.9 to -38. Wholesaling improved to -30.6 [...]
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