World Economic Reports (July 3-10): Finding Some Turning Points
Here in the US, markets are looking for the actual turning point, having priced in the “falling less quickly”, or the “second derivative”, story. Unfortunately, the turning points has yet to materialize in much of the domestic reports: industrial production remains in descent; housing moves laterally on the bottom; and trade is (maybe) showing some life.
However globally, the first derivative action (actual monthly growth) is more obvious: building permits in Canada were way up in May; auto sales in China continue to surprise, up almost 50% over the year; exports in South Korea are seriously less negative since 2008; and industrial production in Germany got a big May bump (almost back to 2005 levels of production). But it pretty much ends there this week: Eurozone retail sales continued to slide, -3.3% over the year in May.
Here are the global charts of the week
Finding a bottom: loss in goods export revenue is tapering off at -20% to -35% over the year (Note: since this post went up, China’s June exports were reported to have fallen 21.4% over the year – a slower annual decline than in May).
The unemployment rate continues its relentless surge in Australia and Switzerland (The chart illustrates the annual change in the unemployment rate)
And some good(ish) news: the first derivative action
Auto sales in China are Red HOT: notice the columns are the color of the Chinese flag
China’s auto sales are up 47.7% over the year, its third consecutive increase in the annual growth rate.
Builders in Canada are planning ahead: residential and non-residential building authorization permits surged 15% and 14%, respectively, in May. Much of the residential growth was in the volatile multi-family space (single-family authorizations grew 1.4%); but new housing stock contributes to positive GDP growth.
And Industrial Production (IP) in Germany surged 3.7% in May, while UK IP fell 0.57%. Bot don’t get too excited: German index shows that IP levels are almost back to those seen in 2005 (four years ago).
Finally, the bad news: Eurozone retail sales struggling to make headway….
Overall, this week’s global economic reports show that the global economy is (likely) at the stabilization phase of the business cycle. Going forward, this column will be looking for global turning points in the data.
Originally published at News N Economics and reproduced here with the author’s permission.
30 Responses to “World Economic Reports (July 3-10): Finding Some Turning Points”
Why are you still worried out irrelevant issues? US government is facing a 500-1500 billion shortfall as calculated by Hayman Capital. And now Japan is also joining the world with a tin cup in hand. Where are we really heading?
I was curious if you ever thought of changing the page layout of your blog? Its very well written; I love what youve got to say. But maybe you could a little more in the way of content so people could connect with it better. Youve got an awful lot of text for only having one or 2 pictures. Maybe you could space it out better?
Substantially, this post is really the sweetest on this notable subject. I harmonise along with your conclusions and will thirstily appear ahead in your incoming updates. Saying thanks will not likely just be sufficient, for that phenomenal clarity in your writing. I will directly grab your rss feed to stay informed of any updates. Admirable perform and much success with your organization dealings! Please excuse my poor English as it’s not my first tongue.
I am impressed, I must say. really seldom do I come upon a blog thats both educational and entertaining, and let me tell you, youve hit the nail on the top. Your post is important; the matter is something that not many folks are speaking intelligently about. i’m extremely happy that I stumbled across this in my seek for something about it.
The magnificence of those blogging engines and CMS platforms will be the lack of limitations and ease of manipulation that enables builders to implement prosperous content and ‘skin’ the web site in this kind of a means that with very minor effort 1 would never recognize what it really is producing the web site tick all without limiting content and effectiveness.
Have you ever considered adding more videos for your blog posts to hold the readers more entertained? I imply I just read through the entire post of yours and it was fairly very good but since I’m more of a visual learner,I found that to be more helpful effectively let me know how it turns out! I adore what you guys are always up also. This kind of clever work and reporting! Hold up the excellent works guys I’ve added you guys to my blogroll. This is a wonderful write-up thanks for sharing this informative info.. I will visit your blog site regularly for some latest publish.
Hello, I found your blog site in a new directory of blogs. I do not understand how your blog came up, should have been a typo, Your weblog looks great. Possess a great day
Pretty very good post. I just stumbled upon your blog and wanted to say that I have really enjoyed reading your weblog posts. Any way I’ll be subscribing to your feed and I hope you post again soon.
Thank you for another vital article. Exactly where else could everyone get that sort of information in these a comprehensive way of writing? I have a presentation incoming week, and I am on the lookout for these info.
This can be a really good examine for me, Should admit that you simply are a single of the best bloggers I ever saw.Thanks for posting this informative article.
Thank you for an additional crucial write-up. In which else could any person get that type of details in these a full way of writing? I’ve a presentation incoming week, and I am around the lookout for such data.
Hi webmaster, commenters and everybody else !!! The blog was absolutely fantastic! A lot of wonderful info and inspiration, both of which we all need!b Keep ‘em coming… you all do these a wonderful job at such Concepts… can not tell you how considerably I, for 1 appreciate all you do!
Let me start by declaring great publish. Im not confident if it has been talked about, but when using Chrome I can never ever get the entire website to load devoid of refreshing numerous times. Could just be my computer. Thanks.
Wonderful publish! I?m just starting out in community management/marketing media and trying to understand the way to do it properly – resources like this article are incredibly helpful. As our company is based from the US, it?s all a bit new to us. The example above is a thing that I worry about as nicely, the way to show your own genuine enthusiasm and share the fact that your product is useful in that case
You made some decent points there. I looked on the web for the problem and found most individuals will approve along with your blog.
This really is my 1st time i visit right here. I identified a lot of entertaining stuff in your weblog, especially its discussion. From your tons of comments in your articles, I guess I’m not the just one having every one of the satisfaction here! Keep up the great work.
Hey, just looking around some blogs, seems a pretty wonderful platform you are using. I’m currently using WordPress for a few of my sites but looking to change one particular of them over to a platform similar to yours as a trial run. Anything in particular you would recommend about it?
The magnificence of these blogging engines and CMS platforms will be the lack of limitations and ease of manipulation that permits builders to implement rich material and ‘skin’ the website in these a way that with extremely minor effort 1 would never observe what it’s creating the internet site tick all devoid of limiting subject material and effectiveness.
This can be a really very good examine for me, Should admit that you simply are one of the best bloggers I ever saw.Thanks for posting this informative article.
Significantly, this publish is really the sweetest on this notable topic. I harmonise along with your conclusions and can thirstily look ahead for your incoming updates. Declaring thanks will not likely just be enough, for your phenomenal clarity within your writing. I will right grab your rss feed to remain informed of any updates. Admirable perform and considerably achievement in your business dealings! Please excuse my poor English as it really is not my 1st tongue.
What youre declaring is entirely true. I understand that everyone must say the same point, but I just believe that you place it in the way that everyone can comprehend. I also adore the photos you place in here. They match so effectively with what youre trying to say. Im positive youll attain numerous folks with what youve got to say.
I should admit that this is one fantastic insight. It surely gives a company the opportunity to get in on the ground floor and really take part in creating some thing distinctive and tailored to their needs.
What youre declaring is entirely correct. I am aware that everybody should say precisely the same issue, but I just feel that you place it in the way that everyone can understand. I also enjoy the pictures you put in here. They fit so effectively with what youre wanting to say. Im sure youll reach a lot of individuals with what youve obtained to say.
This can be a sensible weblog. I suggest it. You’ve so much knowledge about this concern, and so much passion. You also know how to generate individuals rally behind it, certainly from the responses. Youve received a design and style here thats not also flashy, but makes a statement as massive as what youre saying. Great task, certainly.
Hi webmaster, commenters and everyone else !!! The blog page was absolutely fantastic! Plenty of wonderful data and inspiration, both of which we all need!b Hold ‘em coming… you all do such a fantastic position at such Concepts… can’t tell you how considerably I, for 1 appreciate all you do!
Excellent stuff from you, man. Ive go through your things before and youre just as well awesome. I really like what youve received here, love what youre declaring and the way you say it. You make it entertaining and you still manage to hold it intelligent. I cant wait to go through more from you. This can be really a great blog.
I guarantee you we start looking at it this way well lower out costs and we the people will benefit and so will business. It may be just what we need to save ourselves!
Magnificent goods from you, man. EconoMonitor : The Wilder View » World Economic Reports (July 3-10): Finding Some Turning Points I have understand your stuff previous to and you’re just too great. I really like what you have acquired here, certainly like what you’re stating and the way in which you say it. You make it entertaining and you still take care of to keep it smart. I cant wait to read far more from you. This is actually a wonderful EconoMonitor : The Wilder View » World Economic Reports (July 3-10): Finding Some Turning Points informations.
free download apk I was suggested this website by my cousin. I’m not sure whether this post is written by him as no one else know such detailed about my trouble. You are incredible! Thanks! Best Regards Craig…
I was suggested this website by my cousin. I’m not sure whether this post is written by him as no one else know such detailed about my trouble. You are incredible! Thanks! Best Regards Craig…
I like Your Article about EconoMonitor : The Wilder View » World Economic Reports (July 3-10): Finding Some Turning Points Perfect just what I was looking for! .