Economy in Brief: 2018

Canadian factory orders fell for the second month in a row in July but because of an order surge back in May the three-month growth rate continues to record a solid 6.4% rate of growth. Unfilled orders were flat in July but had risen [...]

Gasoline prices were $2.84 per gallon last week (7.9% y/y) and have been little changed since May. Haver Analytics constructs factors to adjust for the marked seasonal variation in prices. The seasonally-adjusted gasoline price rose [...]

The British Chamber of Commerce (BCC) today announced cutting its outlook for the UK economy. It seems to be more pessimistic than it was in the second quarter when the (above) survey was conducted. At that time the various survey [...]

The Empire State Manufacturing Index of General Business Conditions declined to 19.0 during September from 25.6 in August. It was the lowest reading since April, but suggested continued economic growth. The Action Economics Forecast [...]

Faster growth in spending and a lessened increase in revenues is a sure formula for widening the budget deficit. The U.S. Treasury Department reported that during August, the federal government ran a $$214.1 billion budget deficit, [...]

Total business inventories increased 0.6% (4.3% y/y) during July following a 0.1% June rise. It was the strongest increase since February. Total business sales increased 0.2% (8.1% y/y), following a 0.3% gain. The inventory-to-sales [...]

Import prices declined 0.6% (+3.7% y/y) during August following a 0.1% easing in July, revised from unchanged. A 0.2% decline had been expected in the Action Economics Forecast Survey. These figures are not seasonally adjusted. [...]

Industrial production increased a solid 0.4% m/m (4.8% y/y) in August and the modest 0.1% m/m rise initially reported for July was revised up to a 0.4% m/m gain. The consensus from the Action Economics Survey had looked for a 0.3% m/m [...]