Which Major Economy is Withstanding the Pandemic Best?

October 30, 2020

Although these are very early days for ranking economies according to their resilience against the Covid-19 pandemic, the recent release of third-quarter GDP data for a number of countries makes a preliminary stab at that question now possible. The United States, Neither the United States nor Euroland achieved a full-V pattern, but China, Hong Kong, […] More

U.S.-Ezone Manufacturing Spread Swings Sharply in America’s favor

July 1, 2011

In June, the U.S. factory purchasing managers index climbed 1.8 points to 55.3, while its Euroland counterpart weakened by 2.6 points to 52.0.  U.S. manufacturing thus grew faster than Euroland’s for the eighth time in the last nine months, the one exception occurring in May when the latter index surpassed the U.S. gauge by 1.1 […] More

Euroland PMI-Services Score Pulled Almost Even with U.S. PMI in March

April 5, 2011

Just a tenth of a point separated the U.S. and Euroland service sector purchasing manager readings in March.  That gap was down from 2.9 points in February and 3.5 points in January, and such constituted Euroland’s best relative position in six months.  Germany (60.1) and France (60.4) had significantly better readings than America’s score of […] More

Treasury Data on International Capital Flows

March 15, 2011

On a monthly basis, the U.S. Treasury Department releases statistics for capital movements involving the United States vis-a-vis the rest of the world.  These reports embody three different definitions of a net capital inflow, and each was smaller in January than in December or the fourth-quarter monthly pace.  Among long-term flows, there was scant change […] More

Upbeat North American Data

January 31, 2011

Canadian GDP calculated from the supply-side industrial level rose 0.4% in November, the best monthly advance since March.  GDP was also 3.0% higher than a year earlier.  Very robust monthly increases were posted in mining and oil extraction (1.3%), retail sales (1.4%), and wholesale turnover (1.5%).  This is a welcome turn of events following weaker-than-anticipated […] More

November PMIs: European Disadvantage Versus United States Narrows

December 3, 2010

In the United States and Europe, both manufacturing and non-manufacturing recoveries persisted into the latter half of the fourth quarter.  That’s signified in the table below by above-50 readings in all categories last month (the last row of the table).  However, the differential between the strength of the U.S. and Euroland recoveries narrowed. In manufacturing […] More

Factory PMI Results: U.S. Down and Euroland Up

December 1, 2010

The U.S. minus euro area purchasing managers survey in manufacturing fell to 1.3 points in November from 2.3 points in October, as the U.S. index slid by 0.3 points and Euroland’s index rose 0.7 points.  Average readings in October-November of 56.8 in the states and 55.0 in Euroland signify solid conditions in each region heading […] More

U.S. and Canadian Data

November 23, 2010

Revised U.S. third-quarter national income accounts were released today.  GDP growth was revised to 2.5% from 2.0% annualized.  Consumption, investment, government spending and exports were revised upward.  Imports and the boost from inventory building were revised downward.  The personal consumption price deflator increased 1.0% annualized.  It’s now been three years since the onset of the […] More

Best U.S. Minus Euroland Manufacturing Advantage in Five Months

November 2, 2010

The October purchasing manager surveys show evidence that the weaker dollar is indeed endowing the United States with a greater competitive edge vis-a-vis the euro area.  The dollar’s average euro value in October was 12.2% lower than in June.  The U.S. PMI manufacturing index had a reading of 56.9, 2.5 points higher than in September, […] More

Today’s U.S. and Canadian Data

October 14, 2010

The U.S. August trade deficit of $46.2 billion split the difference between the June and July shortfalls of $49.8 billion and $42.6 billion and so seems pretty representative of the present underlying trend.  The year-to-date deficit was $100 billion greater than in January-August 2009, a deterioration of $12.5 billion per month.  China and OPEC each […] More