Economy in Brief: August 2011

There is no complicated story here nor any real caveats. The Yr/Yr EMU IP aggregates by sector are slowing: intermediate goods, consumer goods, capital goods. In the just completed Q2 period (Q-2-Date, in the table) Euro-Area IP has [...]

The U.S. Commerce Department reported that business inventory growth slowed in June to 0.3% from 0.9% in May (revised from 1.0%). Business sales increased 0.4% in June, turning back higher following a 0.1% decrease in May. With the [...]

Total retail & food service sales increased 0.5% last month following a 0.3% June increase, revised up from 0.1%. The July increase roughly matched Consensus expectations for a 0.4% rise, according to the Action Economics survey. [...]

Japan’s total machinery orders rose by 5.6% in June after falling by 2.3% in May. Orders are up at a 28% rate over three months for the period following the onset of tis natural disasters. Orders are also up by 10.9% Yr/Yr. Core [...]

The foreign trade deficit widened to $53.1B in June from a little-revised $50.8B in May. Expectations had been for $48.0B, according to Action Economics. The latest figure eclipsed May's as the deepest since October 2008. Exports fell [...]

Initial unemployment insurance claims fell last week to 395,000, the first reading below the key 400,000 level since April 2. The July 30 week was revised to 402,000 from& 400,000. Consensus expectations had been for 400,000 initial [...]

The U.S. Government ran a $129.4 billion budget deficit in July, bringing fiscal 2011 to date to $1,099.9 billion, according to the U.S. Treasury's "Monthly Treasury Statement". Forecasters had estimated $140.0 billion for the month, [...]

The German headline inflation rate has more or less paused near its recent Yr/Yr peak pace. Core inflation (ex-seasonal food and energy ) is still pushing higher. The headline HICP rose by 0.3% this month. The core reading (available [...]