During March, the consumer price index (CPI-U) rose an expected 0.3% after having been unchanged in February. Less food & energy, consumer prices rose 0.2% and that also was as expected. A Comparison of Measures of Core Inflation from [...]
Global| Apr 16 2008U.S. CPI Total Rose An Expected 0.3%
by:Tom Moeller
|in:Economy in Brief
- Global| Apr 15 2008
U.K. RICS Survey at All-time Low for House Prices
The Royal Institution of Chartered Surveyors' (RICS) said that 78.5% more surveyors reported a fall than a rise in house prices in March. This was the weakest reading since RICS began the survey back in 1978. Since 1999 new sales [...]
- Global| Apr 15 2008
For The ECB Inflation Fears Outweigh Investors' Worries
While the central banks in the United States and Great Britain, have been lowering their key interest rates, the European Central Bank (ECB) has held firm at 4%, as can be seen in the first chart.
Concern over inflation is being fueled by today's releases of March inflation in Italy and France, both of which exceeded 3.5%. The year to year rate of increase in the Harmonized Index of Consumer Prices in Italy rose 3.57% and, in France, 3.53%. Inflation in March for Germany was released earlier and it was 3.2%. Inflation rates for France, Italy and Germany are shown in the second chart, where the sharp run up in inflation since last September is apparent.
Institutional investors and analysts in the ZEW survey are still relatively comfortable with the present economic conditions--the excess of optimists over pessimists rose slightly in April to 33.2%. They have, however, become much more cautious about the next six months. The excess of pessimists over optimists regarding the next six months rose from 32.0% to 40.7%. This compares with the largest excess of pessimists of 62.2% in December, 1992. The third chart shows percent balances for current and expected conditions since the beginning of the series.
INFLATION AND CONFIDENCE Mar 08 Feb 08 Mar 07 M/M Chg Y/Y 2007 2006 2005 Inflation Y/Y % Chg in HICP Italy 3.57 3.13 2.07 0.44 1.50 2.04 2.22 2.21 France 3.53 23.19 1.23 0.34 1.30 1.61 1.91 1.90 Germany 3.20 2.91 1.98 0.29 1.22 2.28 1.78 1.92 ZEW(% Balance) Apr 08 Mar 08 Apr 07 M/M Chg Y/Y Chg 2007 2006 2005 Current Economic Conditions 33.2 32.1 70.6 1.1 -43.7 75.9 18.3 -61.8 Expectations Next 6 Months -40.7 -32.0 16.5 -8.7 -57.2 -3.0 22.3 34.8 - Global| Apr 15 2008
U.S. Empire State Index Stabilized
The April index of manufacturing activity in New York State recovered to 0.63% following the sharp falloff in March to a reading of -22.2%. It was better than expectations for continued weakness at a level of -17%. The figure is a [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Apr 15 2008
U.S. Chain Store Sales Rose Again Despite Record Gasoline Prices
According to the International Council of Shopping Centers ICSC-UBS Chain Store survey, sales increased 0.9% last week and added to a 0.7% rise during the prior period. So far in April sales have risen 0.9% from March.
by:Tom Moeller
|in:Economy in Brief
- Global| Apr 15 2008
U.S. PPI Soared
Finished producer prices in the U.S. soared 1.1% last month, up sharply from the unrevised 0.3% February increase. The increase nearly doubled Consensus expectations for a 0.6% rise and it was the strongest rise since last November. [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Apr 15 2008
U.S. PPI Soared
Finished producer prices in the U.S. soared 1.1% last month, up sharply from the unrevised 0.3% February increase. The increase nearly doubled Consensus expectations for a 0.6% rise and it was the strongest rise since last November. [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Apr 14 2008
UK PPI Prices Soar in March
UK producer prices spurted in March with the headline rate rising to a 17 year high at 6.2% Yr/Yr. Core as headline prices continued to move up and do so in the wake of a BOE rate cut. National Statistics said that the BOE did not [...]
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