Haver Analytics
Haver Analytics

Economy in Brief: July 2003

  • Real GDP grew at a 2.4% annual rate in the second quarter, after increasing only 1.4% in each of the two previous periods. Consensus forecasts for 2Q GDP were 1.8% growth. Personal consumption expenditures were 3.3% (a.r.) higher than [...]

  • The Chicago Fed National Activity Index (CFNAI) improved slightly in June to –0.32 from a reading of –0.40 in May. A zero value of the CFNAI indicates that the economy is expanding at its historical trend rate of growth of over 3% [...]

  • After Thursday’s report of strong retail sales in the UK for June, tepid growth in second quarter GDP was disappointing. The Preliminary estimate showed only a 0.3% increase from the first quarter (1.8% from a year ago). The early GDP [...]

  • Durable goods orders surged 2.1% in June, double the Consensus expectation for a 1.0% rise. May figures were revised up slightly. A 20.0% m/m jump in orders for commercial aircraft & parts accounted for the upside surprise in orders. [...]

  • Global| Jul 24 2003

    U.K. Retails Sales Surge

    Warm weather and the new “Harry Potter” book helped to bolster retail sales in the UK last month. The standard yardstick, the seasonally adjusted index of sales volume, surged 1.9% over May. Analysts had forecast a 0.4% gain.. [...]

  • Initial claims for unemployment insurance dropped below 400,000 for the first week since early February. Claims fell 29,000 to 386,000 versus the prior week which was revised up slightly. Consensus expectations had been for claims of [...]

  • Consumer sentiment in Japan recovered somewhat in the second quarter, rising 1.2 points to 37.3, the first increase in a year. Better employment conditions made the largest contribution, as that survey component advanced 2.3 points [...]

  • Prices for crude oil and natural gas have fallen substantially from their highs set earlier this year. Reports of improved inventory conditions and events in Iraq prompted the declines. Yesterday, the domestic spot market price for [...]