Economy in Brief: April 2004

The Consumer Price Index (CPI-U) jumped 0.5% in March versus Consensus expectations for a 0.3% gain. Core consumer prices also rose a strong 0.4%, twice the Consensus expectation. A 0.6% (2.6% y/y) surge in shelter costs, which [...]

After long periods of sluggishness, the economies in Europe seemed finally to be recouping some strength during the first quarter. Reports for Germany, France, Italy and the Netherlands all showed decent growth in Q1, in some cases [...]

It is too early to say that deflation in Japan is at an end; however, there are signs that some deflationary forces are beginning to weaken.Although the Corporate Goods Price Index was still below year ago levels, it rose 0.63% in [...]

Retail sales surged 1.8% last month on the heels of a 1.0% jump in February. This surprising strength far exceeded Consensus expectations for a 0.7% March gain. Sales' gains in both February and January were revised up. Retail sales [...]

In February, Japan's current account surplus, on a seasonally adjusted basis, was virtually unchanged from the previous month, but was up by 535.6 million yen from February, 2003. On a year over year basis, there were increases in the [...]

Gains in the Index of Leading Indicators for the Major Seven OECD Countries continue to signal positive economic growth, but the 0.1% uptick in February and the upwardly revised 0.4% January increase are slower than the 0.7-0.9% gains [...]

Initial claims for jobless insurance fell 14,000 last week to 328,000, the lowest level since January 2001. The prior week's level was unrevised and Consensus expectations had been for 340,000 claims. The 4-week moving average of [...]

Imported commodities prices jumped 0.9% in March, nearly double the Consensus expectation for a 0.5% rise. The surge was led by a 6.1% m/m jump in petroleum prices. In early April, the price of Brent Crude Oil is down 7.1% versus the [...]