Economy in Brief: June 2006

In May, the U.S. federal government ran a budget deficit of $42.8B that was slightly deeper than the deficit during the same month last year. The FY06 to-date budget deficit nevertheless narrowed to $227.0B versus a deficit of $272.3B [...]

Retail gasoline prices rose again last week to $2.91 per gallon (36.4% y/y). The rise left gas prices in early June still off just slightly from an average $2.91 during May. The spot market price for regular unleaded gasoline slipped [...]

The International Council of Shopping Centers (ICSC)-UBS reported that chain store sales recovered last week from earlier weakness with a 1.2% surge. The increase left sales in early June off a scant 0.4% from the May average which [...]

Small business optimism in May reversed most of the prior month's recovery with a 1.6% decline, according to the National Federation of Independent Business (NFIB). During the last ten years there has been a 70% correlation between [...]

The finished goods producer price index rose 0.2% during May after the 0.9% spike in April. Consensus expectations had been for a 0.4% rise. Prices less food & energy, however, were a bit firmer than expected during May. The 0.3% gain [...]

US retail sales increased an expected 0.1% following an upwardly revised 0.8% rise during April. Retail sales during the first five months of 2006 rose at a 9.2% annual rate versus the 7.2% rise during all of last year. Nonauto sales [...]

US retail sales increased an expected 0.1% following an upwardly revised 0.8% rise during April. Retail sales during the first five months of 2006 rose at a 9.2% annual rate versus the 7.2% rise during all of last year. Nonauto sales [...]

Wholesale prices in Germany rose 5% in May over a year ago. This was the largest year-over-year increase since the 6.05% recorded in November, 2000. Moreover, most of the prices in the underlying components of the index are now [...]