Helicopter money as a policy option: By Lucrezia Reichlin, Professor of Economics at London Business School; c... http://t.co/r7wws9EDfZ
17 minutes ago
Roubini Topic Archive: Sectors and Industries
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Euro Area ‘Hard Data’ Catching Up with the ‘Soft Data’ – Industrial Production
Euro area industrial production (ex construction) declined 0.8% in the month of April. Across the major sectors, the largest decline occurred in capital goods; however, the trend in consumer and intermediate goods is worse than that of capital goods. The regional divergence is clear, as the two-month trend in industrial production – I use the [...]
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The Italian Economy Is Sliding
Today I.Stat released the breakdown of Q1 2012 real GDP for the Italian economy. Weak external demand plus a precipitous drop in private sector spending dragged the headline real gross domestic product (GDP) 0.8% over the quarter (3.2% at an annualized rate). The highlights are the following: Gross fixed capital formation (investment net of inventory [...]
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Is the ECB/EU Achieving Stated Objective of Balanced Growth?
The primary objective of the European Central Bank is to maintain price stability; however, as a compliment to its primary objective, the Eurosystem “shall also ‘support the general economic policies in the Union with a view to contributing to the achievement of the objectives of the Union’. These include inter alia ‘full employment’ and ‘balanced economic [...]
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Global PMIs and Fed Policy: They’re Linked
Today a host of global purchasing managers indices (PMIs) reiterated that the global economy is slowing….quickly. Within 24 hours, China, the US, and the euro area all reported July PMIs falling toward the feared 50 (below which the manufacturing industry is contracting) – 50.7, 50.9, and 50.4, respectively. The UK PMI fell below 50 to [...]
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Real Retail Sales in Europe: Will German Consumers Save the Day? Maybe, Perhaps
Retail sales in Germany and Spain were reported last week for the month of June. On a working-day and not-seasonally adjusted basis, real retail sales fell 7.0% on the year in Spain. In contrast, working-day and seasonally adjusted real retail sales surged over the month in Germany, 6.3%, and posted a 2.6% annual gain. But [...]
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Why You Shouldn’t Get Too Excited About the 1.8% Increase in German Factory Orders
German factory orders increased rather sharply in May, 1.8% in volumes and on a seasonally adjusted basis. The impetus to industrial orders growth on the month was primarily German factories buying capital goods, +2.4%. Factory orders do lead economic activity, so German domestic demand is likely still plugging away. But that’s as good as it [...]
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GDP – A Disappointing Report
Yesterday I addressed the weak high-frequency indicators, specifically with respect to leading indicators of investment spending on equipment and software (durable goods). I argued that Q2 has not started off well, given that the real core orders for capital goods are down compared to the January to March average. The BEA reported that Q1 2011 [...]
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Durable Goods Orders: More Evidence of Near-Term Weakness in the U.S. Economy
They keep calling it a ‘soft patch’ in my business; but when’s the data going to show otherwise? This soft patch is persistent, and durable goods orders confirm it into Q2 2011. Note: The ‘all manufacturing’ orders Y/Y growth rate are available through March only in Datastream for the chart above; the nondefense capital goods [...]
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German Industrial Production Fell in September
Today German industrial production surprised to the downside in September, falling 0.8% over the month on a seasonally-adjusted basis. The contraction brought the annual pace of growth to 7.9% over the year, down from a 10.7% clip in August.
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German Industrial Production Fell in September
Today German industrial production surprised to the downside in September, falling 0.8% over the month on a seasonally-adjusted basis. The contraction brought the annual pace of growth to 7.9% over the year, down from a 10.7% clip in August.
