Tuesday, September 20, 2011

Statistical Notes Tuesday September 20

-More signs of stagflation in Britain as real retail sales fall by 0.2% in August compared to July.

-The United States also had a stagflationary turn as August consumer price inflation rose to 3.8% from 3.6% while initial jobless claims rose and both the New York and Philadelphia manufacturing surveys indicated contraction.

-Euro area inflation was unchanged at 2.5% in August. Inflation falls in the weakest euro area countries like Greece while rising in stronger ones.

-Employment in Sweden rose by 2.4% in the year to August, lowering the unemployment rate to 7.4% in seasonally adjusted terms.

-Greece saw its current account deficit fall dramatically in July
, from €1.47 billion in July 2010 to €900 million in July 2011. However, given Greece's dire financial situation that is still way too high, and for the January to July period, the drop in the deficit was more modest, from €15.6 billion to €14.2 billion.

-Hong Kong saw employment increase nearly 4% the latest year, causing the unemployment rate to drop to 3.2% from 4.3% a year earlier, despite a 2.8% increase in its labor force. Also, its underemployment rate fell from 1.9% to 1.8% during the latest year.


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