Economy in Brief: August 2010

Despite there being strength in industrial orders German IP took a set-back in June falling by 0.6% as MFG IP fell by 0.8%. However this drop follows a sharp 2.9% gain in May and it leaves the three month growth rate only marginally [...]

The already weak labor market suffered an unexpected setback last week. Initial claims for jobless insurance rose to 479,000 from 460,000, revised up from 457,000, during the prior week. The latest level was the highest since early- [...]

German growth in orders continues to be lead by foreign demand. Despite a surge in orders in June the Yr/Yr pace in overall orders is stepping down from its highest pace of several months ago. Over 12-months foreign orders are up by [...]

According to the outplacement firm of Challenger, Grey & Christmas the level of layoffs during July rose slightly to 41,676, the third increase in as many months. Despite the latest upward drift in layoffs, the level remains down by [...]

The U.S. service sector is holding up despite slower growth elsewhere. The July Composite Index for the service and construction sectors from the Institute for Supply Management (ISM) improved slightly to 54.3 after its June dip to [...]

The job market expanded again last month, but its rate of gain has been minimal. The payroll processor ADP, in their latest National Employment Report, indicated that private nonfarm payroll levels rose during July by 42,000 after a [...]

An improved trend has become apparent in the U.S. vehicle sales figures. Unit sales of light vehicles during July rose 8.8% from June to 12.06M units (SAAR) versus 11.08M in June. Sales were the highest since last August and the Cash- [...]

Retail sales are still digging their way of their recession hole but with volume flat in June progress ahs come to a halt. Momentum also has begun to slip as three-month growth in the sales volume index is now negative. Motor vehicle [...]