Economy in Brief: May 2011

The EMU trade picture is somewhat unclear as both exports and imports accelerate over shorter horizons from three-months to six-months to twelve-months but each flow also sees a decline in the progression of the Yr/Yr growth rate. One [...]

More statistical evidence of the impact of the March earthquake, tsunami and subsequent nuclear meltdown in Japan is beginning to be released. Some indication of the effect on production has already come to the fore. Industrial [...]

The National Association for Business Economics reported a downward revision to its latest growth forecast. For this year, real GDP growth should average 2.8%, versus 3.3% expected three months ago. For next year, growth is expected [...]

The National Association of Home Builders reported that its May index of housing market activity held steady at 16 versus an unrevised 16 in April. Though the latest figure remained above the all-time low of 8 reached in January of [...]

The Federal Reserve Bank of New York reported that its Empire State Factory Index of General Business Conditions fell to 11.88 and reversed all of the gains this year. The figure ran counter to Consensus expectations for a higher [...]

Consumers may be getting used to what is an uncertain economic environment. The mid-May reading of consumer sentiment, from the University of Michigan, rose 3.7% to 72.4. It was the highest figure since March. A reading of 70.0 had [...]

Growth is mixed and mingled - The table shows 2011-Q1GDP growth by quarter (annualized) and Year-over-Year growth quarterly for a batch of early-reporting EMU countries that has announced GDP this morning. I include as references the [...]

Higher energy & food prices were behind much of last month's increase in consumer prices. The Commerce Department reported that prices rose 0.4% in April after an unrevised 0.5% March gain. The increase matched Consensus expectations. [...]