Economic sentiment in the Euro Area is still at its highest level since January, 2001, in spite of a slight decline--one basis point from March to 111.0 in April-- The economic sentiment indicator is so constructed that its long term [...]
Global| Apr 30 2007
U.S. Construction Shows a Brighter Side
Real construction spending was up by 0.2% in March. Nominal construction spending was revised from a weak 0.3% in February to 1.5% gain. As a result construction trends are looking a lot better. Even the drain to GDP from residential [...]
Global| Apr 30 2007
Chicago Index Comes Out of the Stratosphere
The Chicago Fed regional activity index fell sharply from 61.7 to 52.9 in April. At 52.9 the index is below its median value of 54.7 since 1968. Orders are low by comparison with their historic median. Production is, however, quite [...]
Global| Apr 30 2007
US Consumer Spending Flounders in March but Trend Still Mostly Firm
The trend to spend took a hit in March but the quarter was still strong for the consumer, as we already say in the GDP report. Three-month trends show us that spending is cooling to a 2.2% pace led by a slowdown in nondurable goods [...]
Global| Apr 30 2007
US Consumer Spending Flounders in March but Trend Still Mostly Firm
The trend to spend took a hit in March but the quarter was still strong for the consumer, as we already say in the GDP report. Three-month trends show us that spending is cooling to a 2.2% pace led by a slowdown in nondurable goods [...]
Global| Apr 27 2007
Japan's Economy Hits Some Air Pockets; CPI Starts To Fall Again
Japan's economy appears in an uncertain position, according to a collection of data released this morning in Tokyo. What seem to be favorable trends turn out to be unsustainable, so evidence of growth is fleeting. Industrial [...]
Global| Apr 27 2007
ECI Wages Jump; Benefits Whimper
The Employment Cost Index or ECI is a major US inflation survey. The quarterly index came packaged with a surprise: This quarter benefit costs rose by a very thin 0.1% as wages surged ahead by 1.1%. As a result total compensation was [...]
Global| Apr 27 2007
Can’t Tell a Book - or GDP – by its Cover, or Headline
GDP growth surprised on the slow side for 2007Q1 coming in at a pace of 1.3%. The Yr/yr pace slowed, too, to 2.1% a sharp slowdown from 3.1% Y/Y just last quarter. Despite the low growth print of the headline, GDP was anything but [...]
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