Economy in Brief: August 2008

The pump price for a gallon of regular gasoline repeated the prior week's decline and fell seven cents last week to $3.81 per gallon, according to the U.S. Department of Energy survey. The price has now fallen by 30 cents, or 7.4%, [...]

During June, the U.S. foreign trade deficit narrowed again to $56.8B after shrinking to the little-revised $59.2B in May. A deficit of $61.9B had been the Consensus expectation for June. So far this year the monthly trade deficit has [...]

During June, the U.S. foreign trade deficit narrowed again to $56.8B after shrinking to the little-revised $59.2B in May. A deficit of $61.9B had been the Consensus expectation for June. So far this year the monthly trade deficit has [...]

Second quarter data on the national accounts of the emerging countries of the Pacific Rim are becoming available. More than two weeks ago, South Korea announced that its seasonally unadjusted second quarter GDP increased 4.8% over the [...]

In June French IP fell by 0.4%, unexpected weakness. It has now dropped in two of the past three months and is falling sharply in the current quarter, at a -5.3% annual rate. Italy, like France, has had a very weak May but managed [...]

In June French IP fell by 0.4%, unexpected weakness. It has now dropped in two of the past three months and is falling sharply in the current quarter, at a -5.3% annual rate. Italy, like France, has had a very weak May but managed [...]

The OECD Trend-restored LEIs tell a story that is now becoming familiar in the markets. The US is still weakening. But Europe is weakening faster. Just today Italy reported a DECLINE in GDP for 2008Q2. Nout Wellink, an ECB board [...]

Too much watching, not enough spending? Japan’s economy watchers index has dropped sharply. Its components are all on 5-Year lows and have been that way for two months running. The NTC MFG index is on a five year low. The Teikoku [...]