Economy in Brief: June 2013

Activity in the factory sector continues on a weak footing. Industrial production ticked up just 0.1% during May following a 0.5% April decline, earlier reported as -0.6%. A 0.2% rise had been expected in the Action Economics survey. [...]

The deflation of wholesale prices ended last month. The producer price index for finished goods recovered 0.5% in May (1.8% y/y) following an unrevised 0.7% April drop. The increase exceeded consensus expectations for a 0.1% uptick. [...]

Inflation in the Eurozone rose by only 0.2% in May. Over three months the annual rate of inflation is only a 0.1% there was a steady deceleration in the growth rate of inflation from 12 months to six months to three months. Meanwhile, [...]

Total business inventories gained 0.3% (4.2% y/y) after having been roughly unchanged for two months. The figure was accompanied by a 0.1% slip (+1.5% y/y) in business sales, the second month of decline. As a result, the inventory-to- [...]

Prices in the U.S. foreign trade sector are under pressure. Import prices fell 0.6% last month (-1.9% y/y) following a revised 0.7% April drop, initially reported as -0.5%. No change in prices had been expected in the Action Economics [...]

The job market remains firm. Initial unemployment insurance claims fell to 334,000 (-12.6% y/y) during the week ended June 8 from an unrevised 346,000 during the week prior. Consensus expectations were for 345,000 claims. The four [...]

The consumer remains in a spending mood. Retail sales during May rose 0.6% (4.3% y/y) following an unrevised 0.1% April uptick. The latest figure beat consensus expectations for a 0.4% gain, according to Action Economics. Retail sales [...]

The Federal Government ran a budget deficit during May of FY'13 of $138.7B, slightly larger than the $124.6B during May of last year. The figure compared to consensus expectations for a $109B deficit. So far this fiscal year the [...]