Friday, July 08, 2011

Statistical Notes Friday July 8

-Both industrial production and construction output recovered somewhat in Britain in May from its depressed (largely due to royal wedding) level in April, but both were down compared to May 2010.

-The ISM non-manufacturing survey fell back from 54.6 to 53.3, contradicting the manufacturing survey, while confirming the picture given by the employment report discussed separately in the previous post.

-Contradicting some other recent reports, the latest numbers from Germany indicates a continued strong recovery, with factory orders, industrial production and exports all booming in May.

-Similarly to neighboring Estonia, Latvia's industrial production fell in May this year compared to April (-1.3%) , but rose compared to May 2010 (+10.2%).

-Canada's employment report was stronger than that of the United States, but weaker than Australia's and Israel's (see below), with employment increasing 0.16% on the month and 1.4% over the latest year.

-After a drop the previous month, employment rose 0.2% in Australia. As part-time employment fell while full time employment rose 0.7% this masked an even greater rebound in hours worked. During the latest year, employment is up 2%.

Meanwhile, Australia's trade surplus rose from A$1.7 billion to A$2.3 billion.

-Retail sales in Hong Kong continued to boom in May, up by 27.8% in nominal terms and 21.6% in real terms.

-Employment in Israel was up by 2.5% in the latest year, while real wages rose 1.3% during the same period.


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