Japan Archive

Dallas Fed, Chicago PMI, Japan Industrial Production, Italy Retail Sales, Comments on GDI and GDP

Shockingly negative: Dallas Fed Mfg Survey Not so good: Chicago PMI Highlights The headline for August looks solid, at 54.4 for the Chicago PMI, but the details look weak. New orders and production both slowed and order backlogs fell into deeper contraction. Employment contracted for a fourth straight month while prices paid ...Read More

Personal Income and Outlays, Consumer Sentiment, Japan Household Spending, China Profits

Everything pretty much as expected and the same, helped by vehicle sales which are both volatile and leveling off: United States : Personal Income and Outlays Highlights There’s no hurry for a rate hike based on the July personal income and outlays report where inflation readings are very quiet. Core PCE prices ...Read More

WRKO Interview, GDP, Pending Home Sales, KC Fed, Corporate Profits, BOJ QE chart

WRKO Interview Higher than expected, still a bit lower year over year, and supported by heavy unsold inventory building that’s exceeding the growth of new orders, as well as an increase in net exports which is counter to all the survey information and other hard data as well. Net export reports tend ...Read More

Fed white paper, building permits, transport charts, Japan trade

So someone on high sees it much like I do… ;) In a white paper dissecting the U.S. central bank’s actions to stem the financial crisis in 2008 and 2009, Stephen D. Williamson, vice president of the St. Louis Fed, finds fault with three key policy tenets. Specifically, he believes the zero ...Read More

Retail Sales, Jobless Claims, Import Export Prices, Business Inventories, Japan Machine Orders, Freight Transportation, Gas Prices

This is being touted as a strong report, but, again, looks to me like it’s dropped since year end and at best is moving sideways from there, and not to forget that a large share of auto sales are imports. But I do agree the Fed is heck bent on raising rates ...Read More

China, Germany, Productivity, NFIB Index, Redbook, Wholesale Trade

A few thoughts: China’s US Tsy holding had been falling perhaps because they were selling $ to buy Yuan to keep it within in the prior band. Pretty much all exporting nation’s currencies have already weakened vs the $, including the Yen and Euro, so this is a bit of a ‘catch ...Read More

Chicago Fed, KC Fed, Japan Exports

Note the details and the conclusion: source: Econoday Highlights June proved to be a slightly stronger month for the economy than expected, based on the national activity index which came in at plus 0.08 vs Econoday expectations for a 0.05 dip. The 3-month average is still in the negative column though just ...Read More

NFIB employment, BOJ solvency, Non Farm Payrolls, Claims, Factory Orders

The cheer leaders didn’t bother to report on this they way they did when employment was increasing: U.S. small business hiring takes a breather in June: NFIB July 1 (Reuters) — The National Federation of Independent Business said its monthly survey of members found hiring was little changed last month. Fifty-two percent ...Read More

IMF re France, truck tonnage, China PMI, Japan PMI

More of same pro cyclical pressure: France slammed by IMF for record-high spending By Holly Ellyatt May 20 (CNBC) — The International Monetary Fund (IMF) has warned France that it must reduce government spending and debt levels, as well as tackling its sticky unemployment rate. The IMF said in its latest economic ...Read More

Japan Q1 GDP, Sea Containers, home building charts

Looks like mainly inventory building: Japan : GDP Highlights The Japanese economy appears to be recovering with its second consecutive quarter of growth. First quarter gross domestic product was up 0.6 percent on the quarter – consensus was for a 0.4 percent quarterly gain. On an annualized basis, GDP was up 2.4 ...Read More