Canada – In May, the Canadian trade balance recorded a deficit of $0.5B after posting a $0.3B shortfall in April. Exports sprang 5.2%, their largest percentage increase since July 2009. Imports were up as well, a considerable 5.7%. Trade activity showed strength across the board during the month, with vigorous advances in export and import volumes of 3.9% and 4.2%, respectively. However, the trade deficit deteriorated. So far in Q2, trade has been a significant drag on GDP growth.
Again in May, factory sales climbed 0.4% after registering an upwardly revised gain of 0.4% in April. Sales excluding motor vehicles and parts dipped 0.1%. The 9 industries out of 21 that saw sales progress accounted for approximately half of total sales. New orders increased 2.5% and unfilled orders grew 1.3%. Both were positively affected by the aerospace products and parts industry. Inventories declined 0.7%, lowering the inventory-to-sales ratio to 1.3, its lowest mark since July 2008. Real manufacturing sales ascended for a ninth consecutive month. They had bounced back 14.6% in May since bottoming out 12 months before.
Still in May, new motor-vehicle sales edged up 0.2% after diving 4.7% the previous month. A drop in sales of passenger vehicles (-1.6%) was offset by a swell in sales of trucks, vans and buses (+1.8%)
In June, the leading indicator rose 1.0% after mounting 1.1% in May.
United States – In June, U.S. headline CPI inflation cooled to 1.1% y/y from 2.0% in May. Excluding food and energy, the index remained unchanged at 0.9%. On a monthly basis (seasonally adjusted), headline inflation slid 0.1% while the core index notched up 0.2%. The import price index (-1.3% m/m) fell more than expected, registering 12-month growth of 4.5% compared with 8.6% one month earlier.
Again in June, producer prices slipped 0.5% m/m, which translated into a y/y increase of 2.8%, down from 5.3% in May. Producer prices excluding food and energy rolled ahead 0.1% m/m and 1.1% y/y, down from 1.3% y/y the preceding month.
Still in June, industrial production ratcheted up a slim 0.1%, after vaulting 1.3% in May. The June increase was led by mining (+0.4%) and utilities (+2.7%). Meanwhile, manufacturing production slacked off 0.4% on the month. Capacity utilization remained unchanged at 74.1%.
Retail sales lost ground in June (-0.5%). Excluding autos and gasoline, sales inched higher 0.1%.
In July, University of Michigan Confidence Index took an abrupt downturn from 76.0 to 66.5.
Again in May, factory sales climbed 0.4% after registering an upwardly revised gain of 0.4% in April. Sales excluding motor vehicles and parts dipped 0.1%. The 9 industries out of 21 that saw sales progress accounted for approximately half of total sales. New orders increased 2.5% and unfilled orders grew 1.3%. Both were positively affected by the aerospace products and parts industry. Inventories declined 0.7%, lowering the inventory-to-sales ratio to 1.3, its lowest mark since July 2008. Real manufacturing sales ascended for a ninth consecutive month. They had bounced back 14.6% in May since bottoming out 12 months before.
Still in May, new motor-vehicle sales edged up 0.2% after diving 4.7% the previous month. A drop in sales of passenger vehicles (-1.6%) was offset by a swell in sales of trucks, vans and buses (+1.8%)
In June, the leading indicator rose 1.0% after mounting 1.1% in May.
United States – In June, U.S. headline CPI inflation cooled to 1.1% y/y from 2.0% in May. Excluding food and energy, the index remained unchanged at 0.9%. On a monthly basis (seasonally adjusted), headline inflation slid 0.1% while the core index notched up 0.2%. The import price index (-1.3% m/m) fell more than expected, registering 12-month growth of 4.5% compared with 8.6% one month earlier.
Again in June, producer prices slipped 0.5% m/m, which translated into a y/y increase of 2.8%, down from 5.3% in May. Producer prices excluding food and energy rolled ahead 0.1% m/m and 1.1% y/y, down from 1.3% y/y the preceding month.
Still in June, industrial production ratcheted up a slim 0.1%, after vaulting 1.3% in May. The June increase was led by mining (+0.4%) and utilities (+2.7%). Meanwhile, manufacturing production slacked off 0.4% on the month. Capacity utilization remained unchanged at 74.1%.
Retail sales lost ground in June (-0.5%). Excluding autos and gasoline, sales inched higher 0.1%.
In July, University of Michigan Confidence Index took an abrupt downturn from 76.0 to 66.5.
