Money supply in EMU has surged showing annualized double-digit rates of growth over three months and six months, and nearly so over 12 months (9.5%). And while year-on-year credit growth has accelerated on 12-month growth rates (see [...]
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| Aug 27 2020Money and Credit Growth Respond to Stimulus...And to Distress
- Global| Aug 26 2020
French Household Confidence Waffles at a Weak Level
French household confidence ticked higher in August to stand at 94.5 compared to 94.1 in July. Confidence had previously risen to 96.3 in June, but it is still below that level. Confidence fluctuated in a range from 102 to 105 from [...]
- Global| Aug 25 2020
IFO Continues to Improve After Jump; Some Good News and Lots of Reality
IFO headline The IFO business confidence index (we present data for the diffusion index below) rose for the fourth month in a row. It gained 11.1 points in May, 14.1 points in June, 9.6 points in July and this month it moved higher by [...]
- Global| Aug 24 2020
Finland's Export and Import Prices Rise But Remain Contained
Finland's aggregate export and import price indexes have tracked one another closely over the past decade. Over the past five years the terms of trade (ratio of export prices to import prices) have fallen by 0.1% at an annual rate. [...]
- Global| Aug 21 2020
The PMI Flash Surge Is Gone in a Flash
The flash PMIs from Markit show a widespread step back in August from the surge made in July. Of course, the gain in PMI values, accomplished in July, remain mostly in place. But the backtracking in the month-to-month gain casts doubt [...]
- Global| Aug 20 2020
German PPI Make Second Monthly Gain and Sixth Straight Year-on-Year Drop
The German PPI rose month-to-month for the second month in a row. However, its year-on-year change fell for the sixth month in a row. The monthly upward pressure is still modest with prices rising by only 0.2% in July after tacking [...]
- Global| Aug 19 2020
Japan's Orders Fall; Core Orders Fall; Foreign Orders Hit a New Low
The table below pools the data from four different reports to create a picture of how Japan is doing. The pictures all are painted in the same dark colors. The orders data are fresh today even though they lag the data in other surveys [...]
- Global| Aug 18 2020
German Employment Growth Is Whacked in Q2
German employment growth took the expected hard hit in Q2 as jobs contracted at a 5.3% annual rate quarter-to-quarter. The year-over-year change is a drop of 1.3%. Clearly, the impact of the virus on employment levels has been [...]
- Global| Aug 17 2020
Japan's GDP in Record Tailspin
GDP falls for third quarter in a row...it's not just the virus Japan's GDP made its worst fall in 40 years. The Cabinet Office says GDP shrank at an annualized 27.8% from the previous quarter in real terms. It's the worst result since [...]
- Global| Aug 14 2020
EMU GDP Registers Broad, Deep Recession
GDP data still are not in for all counties in Q2. But, for most, the data are in and have undergone some revision and are beginning to stabilize the picture. It is not a pretty one. All the European countries in the table had severe [...]
- Global| Aug 13 2020
German Inflation Moves Lower in July
Seemingly, no one is worried about inflation. The ratcheting up in oil prices is not having an impact on headline prices. In Germany, the HICP fell by 0.8% in July after rising by 0.5% in June, driving the year-on-year HICP to a flat [...]
- Global| Aug 12 2020
Euro Area IP Continues Its Rapid-Fire Recovery
There are at least two views of the ongoing European recovery in production. One is expressed by the chart. It shows a relatively strong V-shaped rebound but one that leaves output still declining on balance in each major sector [...]
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