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US: Manufacturing sector stabilizes
Wed, Sep 3 2008, 07:29 GMT
by KBC Market Research Desk
The ISM manufacturing survey came out slightly lower at 49.9 (from 50.0), broadly in line with the expectations. The details show a mixed picture with significant gains in new orders (48.3 from 45.0), new export orders (57.0 from 54.0) and imports (48.5 from 46.5), while production (52.1 from 52.9) and employment (49.7 from 51.9) deteriorated. Both inventories and customer inventories came out clearly higher, while supplier deliveries were lower. Prices paid declined sharply from 88.5 to 77.0 indicating that inflation came off its peak reached in June. In recent months, the manufacturing ISM stayed close to the benchmark level of 50, showing signs of stabilization, but the rebound in new orders and new export orders might raise expectations that an improvement is around the corner.
EMU: Core PPI raises fears for second-round effects
In July, producer prices rose 1.1% M/M and 9.0% Y/Y after 0.9% M/M and 8.0% Y/Y in June. These extremely high inflation levels are mainly due to rising energy prices (2.8% M/M and 24.5% Y/Y), reaching their peak it July. But also ex-energy, producer prices rose 4.3% Y/Y, which is the highest level since 1995. Although these figures are rather outdated, the increase in core PPI could be an indicator for the ECB that second round effects are showing up.
Published on Wed, Sep 3 2008, 07:33 GMT
Archive
- US: manufacturing ISM shows deepening recession
Published On Tue, Dec 2 2008, 08:30 GMT - EMU: CPI inflation falls sharply in November
Published On Mon, Dec 1 2008, 08:15 GMT - EMU: Economic sentiment falls to 16-year low
Published On Fri, Nov 28 2008, 08:39 GMT - US: durables show that firms are slashing sales
Published On Thu, Nov 27 2008, 08:30 GMT - US: Third quarter GDP contracts by 0.5%
Published On Wed, Nov 26 2008, 08:48 GMT
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