Saturday, July 02, 2011

Statistical Notes Saturday July 2

-The British manufacturing survey weakened to 51.3 to the weakest level in 21 months. Meanwhile, yearly GDP growth was revised down from 1.8% to 1.6%.

-U.S. economic news was more mixed. The ISM manufacturing index recovered somewhat in June after May's big dip, but initial jobless claims remained at a high level and construction spending continued to drop.

-Sweden's money supply continued to contract, at -0.7% in May.Meanwhile, its manufacturing survey weakened from 56.1 to 52.9.

-Yearly euro area money supply growth fell to 1.2% in May, the lowest since 2008, with the 3- and 6 month increases being even lower, while consumer price inflation held steady at 2.7%. With money supply growth already near zero, ECB interest rate increases seems unnecessary at best.

-Euro area manufacturing survey weakened to 52, the lowest in 18 month

-After increasing the previous month, Spain's current account deficit fell in April. For the first four months as a whole, it fell but only slightly, from €21.0 billion to €20.5 billion.

-Industrial production fell back in May in Estonia from the previous month, but was still up as much as 26.1% compared to a year.


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