Statistical Notes Friday August 12
Meanwhile, the U.S. trade deficit increased as exports fell, something that if the net revision of other factors are zero will result in a downward revision of second quarter GDP.
-Employment was unchanged in Australia in July, with full time employment falling. This however follows a strong June increase, and compared to a year earlier employment is up 1.7%.
-French GDP growth stalled in the second quarter, being unchanged compared to the previous quarter and increasing just 1.5% compared to a year earlier.
-Greece performed far worse, as its GDP contracted by 6.9% compared to a year earlier.
-Estonia, by contrast, as hinted yesterday saw its economy boom, with GDP increasing 8.4% in the year to the second quarter.
-Hong Kong like Estonia saw continued strong growth, as GDP grew by 5.1% in real terms compared to a year earlier in the second quarter. This however is a lower increase compared to previous quarters.
-Machinery orders in Japan rose, indicating that Japan is recovering from its tsunami-induced slump.