Economy in Brief: July 2012

The University of Michigan's Index of Consumer Sentiment for mid-July fell to 72.0 compared to 73.2 in June. The latest figure was the lowest since December and compared unfavorably to expectations for 73.5. A lower consumer [...]

The producer price index for finished goods ticked 0.1% higher last month following a 1.0% May decline. Consensus expectations were for a 0.4% decline. Despite the gain, the PPI rose just 0.8% during the last year, the weakest since [...]

The decline in import prices picked up speed last month.U.S. import prices fell 2.7% during June after a 1.2% May decline. A 1.5% decline had been expected. Prices fell across-the-board. Petroleum prices were off 10.5% last month [...]

Be it headline or core German inflation is headed lower. Despite being the strongest large economy in Europe, Germany is not building inflation pressure. Its diffusion reading over three-months is only 18% meaning that inflation is [...]

The labor market advanced into new territory last week. Initial claims for unemployment insurance dropped to 350,000 in the week ended July 7 from 376,000 during the prior week, revised from 374,000. That put the latest level at its [...]

Talk of global recession continues to pressure commodity prices downward. At 160.8, the latest price index from the Foundation for International Business and Economic Research (FIBER) was down 6.3% from its recent high and off 7.5% [...]

The U.S. foreign trade deficit during May narrowed sharply to $48.7B from a little-revised $50.6B in April. Expectations were for a deficit of $49.0B. Exports ticked up 0.2% (4.2% y/y) while imports fell 0.7% (-9.8% y/y) with lower [...]

The United Kingdom and three Euro Area Countries--France Italy and the Netherlands-- released May data on industrial production today. (The data can be found in the G10 data base as well as in the data bases of the individual [...]