Economy in Brief: August 2019

ZEW experts' macroeconomic expectations are being cut sharply again. This time the cut is from a much lower point (see Chart). The entire survey is a study in weakness as the table below shows. Its labeling is based upon month-to- [...]

The National Federation of Independent Business (NFIB) reported that its Small Business Optimism Index rose to 104.7 during July and recaptured most of its decline during June. The index improved 1.4% m/m, but was down 3.0% y/y. An [...]

Overall retail pricing power picked up last month. The Consumer Price Index rose 0.3% during July (1.8% y/y), up from 0.1% upticks in each of the prior two months. The rise matched expectations in the Action Economics Forecast Survey. [...]

The pump price for a gallon of regular gasoline in the U.S. declined to $2.62 (-7.7% y/y) last week from $2.69 per gallon in the prior week. The price was the lowest since the end of March and down from the early-May high of $2.90. [...]

The U.S. Treasury Department reported that the federal government ran a $119.7 billion budget deficit during July compared to a $76.9 billion shortfall posted one year earlier. A $117.5 billion deficit had been expected in the Action [...]

Portugal is not typically one of the low inflation countries in the EMU. That makes its 1.2% price drop in July and its year-on-year drop of 0.7% all the more striking. Compared to early members, Portugal ranks as the country with the [...]

The Industrial Materials Price Index from the Foundation for International Business and Economic Research (FIBER) declined 3.1% during the last four weeks. The price index was down 13.0% y/y and has fallen to the lowest level since [...]

As the date for Brexit approaches, the impact from the collision has preceded its arrival! GDP, unexpectedly, has fallen in Q2. Newly minted PM Boris Johnson has said that preparing for a hard Brexit is his top priority. Preparation [...]