Germany Archive

Philly Fed, Claims, Hotels, Restaurants, Lending, Germany

All going to heck, no explanations necessary: ...Read More

Euro area GDP, Germany, Industrial Production, Retail sales, Consumer sentiment

Contraction: The index is up but the mix of details is odd: ...Read More

JOLTS, Small business index, Household debt, Wholesale inventories and sales, Germany The number of job openings in the US fell by 364,000 to 6.423 million in December 2019 from a revised 6.787 million in November and well below market expectations of 7.0 million. It was the lowest level since December 2017, as openings slumped by 332 thousand in the private sector and ...Read More

Employment, Mtg purchase apps, Rails, Germany

Year over year growth declined, at least for now reversing a small move up in the context of a larger move lower. Decelerating employment growth generally coincides with decelerating GDP, as has been the case: Another indicator that’s been perking up. May be weather related: Intermodal traffic’s prolonged contraction shifted to expansion ...Read More

Pending home sales, Trade, Germany, Japan, US

Lots of surveys turning up a bit on hopes for the trade deal: And Japan passed a modest positive fiscal adjustment: ...Read More

New Home Sales, Dallas Fed, Germany, Tech, Rails, Containers, Bank loans, Coronavirus

Doesn’t look like the lower rates are triggering any kind of housing boom… ;) Still in contraction: Some of the recent moves higher may be reversing? Not at all good: Deceleration from tariffs continues: The catalyst that reverses the climb in equity valuations? ...Read More

Germany, Japan, rails

Deeper into contraction: German Industrial Output Falls Unexpectedly Industrial production in Germany dropped by 1.7% mom in October 2019, missing market expectations of a 0.1% growth and following a 0.6% fall in September. This marked the steepest monthly decrease in industrial output since April, as production fell for capital goods (-4.4%), including ...Read More

ISM Manufacturing, Construction, Mexico PMI, Germany

Contraction: Also heading south: Deceleration: China using fiscal adjustments to sustain domestic demand while redirecting trade which won’t help the US: ...Read More

US PMI’s, KC Fed, Euro area services, UK services, Germany services and GDP

Tariffs taking their toll and no end in sight as global deceleration continues for both goods and services. These surveys are up a bit this month but still very low and too soon to suggest a reversal: Note how this blipped up last month but then resumed the downtrend: Deceleration resumes after ...Read More

ISM Manufacturing, Construction, Trump Fed comments

The deceleration that’s been going on all year due to the tariffs seems to finally be getting some media attention after US manufacturing reports that it’s in contraction. Something like the 10th plague… Highlights Contraction in export orders is severe and is pulling composite activity for ISM manufacturing’s sample under water. September’s ...Read More