Economy in Brief: July 2011

The OECD LEI is losing momentum. The OECD index is off by 0.3% in the recent month and the OECD-seven index is off by 0.4%. Over three-months we are seeing declines in the top OECD indices; on that horizon the US index is flat. The [...]

The foreign trade deficit jumped in May to $50.2B from a little-revised $43.6B in April. Expectations had been for $43.6B according to Action Economics. The latest figure was the deepest since October, 2008 as imports jumped 2.6% with [...]

The debt crisis in the Euro Area widened yesterday. While interest rates in the smaller troubled spots, Greece, Portugal and Ireland, which were already very high, rose slightly, interest rates in Italy and Spain spiked. Italy is the [...]

While the growth rates of IP from 12-months and in seem different for France and Italy. But their respective growth rate paths in the recovery have been very similar. Over three-months Italy is the only country in the table with IP [...]

The balance of trade in Chinese goods with the United States was $17.9 billion in June, the highest monthly value on record. Chinese exports to the U.S. rose 5.1% from $25.8 billion in May to $27.1 billion in June while imports [...]

Consumers seem to have retrieved their credit cards, earlier stowed in the dresser drawer. Reported late Friday, overall consumer credit rose $5.1B during May following a $5.7B April advance, revised down from $6.3B reported last [...]

German exports outpaced imports in May helping to boost the German surplus in May. But real export orders are turning lower. Exports orders fell by 5.8% and are declining at accelerating pace over the least three-months and six [...]

The June employment painted a picture of a labor market with no forward momentum. Nonfarm payrolls rose just 18,000 following increases during the prior two months that were revised down by a collective 44,000. The latest gain [...]