The NTC-Reuter Flash PMIs for November show an unexpected bounce for Manufacturing and slip for Services. Both readings are weak, however. Placed in the past 23-month range (the whole of the life of the services index) services are [...]
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| Nov 23 2007Services Slip: E-zone PMIs are Weak
- Global| Nov 20 2007
Italy's Orders Growth Slows as Foreign Orders Hold Erratically Higher
Italy’s order trends are not as clear as the slowing in some other Euro area countries. True, the 3-month growth rates are lower and sharply lower especially for foreign orders. But the chart on the left shows how erratic foreign [...]
- Global| Nov 20 2007
French Orders Weaken
We continue to monitor order trends. Trends for France are still higher over 12 months at +6.4%. Foreign orders are a half step behind at +5.5%. But over six months the growth rate is lower and over three months the growth rate is [...]
- Global| Nov 20 2007
UK Orders Bounce Higher in Survey Unexpectedly
UK orders jumped to a net balance reading of +8 from -6 in October. The series has been somewhat see-saw as the chart on the left shows. Export orders, also showing some see-saw movement, are nonetheless rather better behaved and [...]
- Global| Nov 20 2007
German PPI Drifts Lower but no Clear Deceleration is in Sight
We are hearing more concerns about inflation not just inflation risk from Euro area officials. Germany has its core PPI heading lower and the headline as well but not in a clear cut way. Also the declines are slow and energy prices [...]
- Global| Nov 19 2007
German Wage and Salary Trends Turn Lower…
German wages and salaries are losing momentum. In inflation-adjusted terms the slow down is substantial and has turned real trends negative over the past year. The downward pressure is not abating. In September nominal wages and [...]
- Global| Nov 16 2007
The EMU Trade Surplus Shrinks
Exports slow as imports rise. It is too soon to chalk up the dwindling trade surplus of Europe to the high Euro, but this month’s report is another hint. The surplus is sketching out a shrinking pattern beyond the simple drop of this [...]
- Global| Nov 15 2007
EMU ‘Core’ Inflation Trends Are Mixed…But Still Poor
The EMU region shows accelerations in overall inflation as well as in core inflation (see table below). The goods sector (a sector that includes energy) shows inflation is steadily accelerating and services show the opposite, steady [...]
- Global| Nov 15 2007
Japan’s Tertiary Sector Echoes Weakness in MFG and Mining
The percentile readings for Japan’s tertiary and manufacturing/mining indexes remain elevated in the top 10% of their respective ranges. In the case of the services industries their index seems to show them still on trend with a bump [...]
- Global| Nov 14 2007
European Car Registrations Put in Another Good Month
European car registrations jumped by 11.6% Y/Y following a drop of 8.2% in September. Despite gains in two of the past three months, sales are still lower year to date in 2007, by 0.4% compared to sales last year. Germany lags the [...]
- Global| Nov 13 2007
Inflation Trends Turn Bleak in the Euro Area…
In October, as energy prices have surged again, the Euro area is suffering inflation bulging beyond the limits of its ceiling. We know that the ECB is not happy with this development even though most of it is due to oil prices and [...]
- Global| Nov 13 2007
German Sales Trends Improving; But Still a Moderate Quarter
Spending patterns improved in September from August despite their downward revision. Sequential rates of growth find 3-month and 6-month rates of growth are generally improved form their respective year ago pace. Nominal auto sales [...]
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