International Economic Developments

Great Britain Retail Sales Fall Sharply during October

11/16/17: The United Kingdom’s Office of National Statistics reported today that sales at Great Britain’s retail stores fell during October, on a year-over-year basis, for the first time since March 2013. Excluding sales of...

Japan’s Pace of Economic Growth Slows Considerably

11/15/17: Japan’s Cabinet Office reported today that the country’s pace of economic growth slowed considerably during the third quarter of this year, with its gross domestic product (“GDP”) increasing at a 1.4% annualized...

Japan EcoWatchers Survey Index Continues to Trend Higher

11/09/17: Japan’s Cabinet Office reported today that its EcoWatchers Indices, which are based on responses to questions posed every month to approximately 2,000 service-sector employees and small business owners regarding their...

China Exports Slow, Japan Leading Indicators Decline

11/08/17: China’s National Bureau of Statistics reported today that the country’s exports rose at a slower rate during October than during the prior month, increasing by 6.9%, as compared to the same month a year ago, following...

Eurozone Retail Sales Rise at Faster Rate Since January 2015

11/07/17: Eurostat reported today that sales at Eurozone retail stores rose during September, the latest month for which data are available, at the fastest year-over-year rate since January 2015, increasing by 3.7%, as compared...

Japan Retail Sales Rebound during September

10/29/17: Japan’s Ministry of Economy, Trade and Industry reported today that sales at the country’s retail stores rebounded during September, increasing by 0.8%, as compared to the prior month. On a year-over-year, Japan’s...

European Central Bank to Reduce Bond Purchases

10/26/17: The European Central Bank (“ECB”) announced today that it plans to reduce its purchases of European government debt during 2018. Specifically, the ECB stated that beginning during January 2018 it will reduce its...

China GDP Growth Slows during Third Quarter of 2017

10/19/17: China’s National Bureau of Statistics (“NBS”) reported today that the country’s pace of economic growth slowed during the quarter ended September 30, 2017, with its gross domestic product (“GDP”) expanding by 6.8%, as...

Japan Export Growth Slows during September

10/18/17: Japan’s Ministry of Finance reported today that the country’s exports rose at a slower pace during September than during the prior month, increasing by 14.1%, as compared to the same month a year ago after increasing...

ZEW Index Declines during Mid-October

10/17/17: The Centre for European Economic Research (“CEER”) reported today that its ZEW Index, which measures the economic sentiment of Eurozone institutional investors, declined during mid-October, indicating that...

Industrial Production Rises in the Eurozone and India

10/12/17: Eurostat reported today that industrial production at the region’s factories, mines and utilities rose for the second consecutive month during August, the latest month for which data are available, increasing by 1.4%,...

Japan Eco Watchers Index Rises during September

10/10/17: Japan’s Cabinet Office reported today that its Eco Watchers Index, which is based on responses to questions posed every month to approximately 2,000 service-sector employees and small business owners regarding their...

Eurozone Retail Sales Decline for Second Consecutive Month

10/04/17: Eurostat reported today that sales at retail stores located in the Eurozone declined for the second consecutive month during August, the latest month for which data are available, with those sales falling at the...

Brazil Industrial Production Declines Modestly during August

10/03/17: Brazil’s Institute of Geography and Statistics reported today that industrial production at the country’s factories, mines and utilities declined modestly during August, falling by 0.8%, as compared to the prior month....

Japan Industrial Production Rebounds, Retail Sales Decline

09/29/17: Japan’s Ministry of Economy, Trade and Industry (“METI”) reported today that industrial production at Japan’s factories, mines and utilities rebounded, but that sales at the country’s retail stores declined, during...

ZEW Index Rebounds Modestly during September

09/19/17: The Centre for European Economic Research (“CEER”) reported today that its ZEW Index, which measures the economic sentiment of Eurozone institutional investors, rebounded modestly during the first half of September,...

Japan and China Industrial Production Slows

09/14/17: Japan’s Ministry of Economy, Trade and Industry (“METI”) reported today that industrial production at the country’s factories, mines and utilities slowed, on a year-over-year basis, for the second consecutive month...

Eurozone GDP Revised Higher, Japan GDP Revised Lower

09/07/17: Eurostat reported today that the Eurozone economy expanded at a faster pace for the quarter ended June 30, 2017 than it had estimated previously. Specifically, Eurostat reported that the Eurozone’s gross domestic...

Eurozone Retail Sales Decline, Brazil Industrial Output Rises

09/05/17: Eurostat reported today that sales at Eurozone retail stores declined during July, the latest month for which data are available, after increasing during each of the five prior months. Separately, Brazil’s Institute of...

Japan Retail Sales Increase at Slowest Pace since February

08/29/17: Japan’s Ministry of Economy, Trade and Industry (“METI”) reported today that sales at the country’s retail stores rose during July at the slowest year-over-year rate since February of this year, as Japan’s household...

Great Britain Business Fixed Investments Unchanged

08/24/17: The United Kingdom’s Office of National Statistics reported today that Great Britain’s business investments in capital equipment – Business Fixed Investments – were unchanged during the second quarter of this year, the...

ZEW Index Declines Sharply, Eurozone Stocks Headed Lower

08/22/17: The Centre for European Economic Research reported today that its ZEW Index, which measures the economic sentiment of Eurozone institutional investors, declined sharply during the first half of August, falling to 29.3...

Great Britain Industrial Production Increases during June

08/10/17: The United Kingdom’s Office of National Statistics reported today that industrial production at Great Britain’s factories, mines and utilities rose during June, the latest month for which data are available, after...

Japan Machine Tool Orders Rise for Eighth Consecutive Month

08/09/17: The Japan Machine Tool Builders Association reported today that manufacturers’ orders for machine tools rose for the eighth consecutive month during July, albeit at a slower pace than during the prior month. The...

Japan EcoWatchers Index Declines during July

08/08/17: Japan’s Cabinet Office reported today that its EcoWatchers Index, which is based on responses to questions posed every month to approximately 2,000 service-sector employees and small business owners regarding their...

Japan’s Index of Leading Economic Indicators Rises Sharply

08/07/17: Japan’s Cabinet Office reported today that its index of leading economic indicators for Japan rose sharply during June, the latest month for which data are available, to the highest level since June 2015, indicating...

Eurozone Retail Sales Rise for Fifth Consecutive Month

08/03/17: Eurostat reported today that sales at Eurozone retail stores rose for the fifth consecutive month during June, the latest month for which data are available, and at the fastest year-over-year pace since January 2015,...

Japan Industrial Production Rebounds Modestly during June

07/30/17: Japan’s Ministry of Economy, Trade and Industry reported today that industrial production at the country’s factories, mines and utilities rebounded modestly during June, increasing by 1.6%, as compared to the prior...

Germany Business Climate Continues to Improve

07/28/17: Germany’s Ifo Institute for Economic Research reported today that its latest survey of executives at the country’s manufacturing companies, wholesalers and retail stores indicates that the overall business climate in...

Eurozone and Japan Manufacturing Activity Slows during July

07/24/17: IHI Markit reported today that its mid-July surveys of purchasing managers at manufacturing companies in the Eurozone and Japan indicate that manufacturing activity in those regions slowed over the past few weeks....

ECB and Bank of Japan Leave Key Lending Rates Unchanged

07/20/17: Both the European Central Bank (“ECB”) and the Bank of Japan (“BOJ”) announced today that they decided to make no changes to their key lending rates and to continue to purchase large quantities of European and Japanese...

China’s Economy Improves during Second Quarter of 2017

07/17/17: Data released today by China’s National Bureau of Statistics (“NBS”) indicate that the country’s economy improved during the quarter ended June 30, 2017. Specifically, China’s NBS reported that the country’s gross...

Japan Industrial production Declines Sharply during May

07/14/17: Japan’s Ministry of Economy, Trade and Industry reported today that industrial production at the country’s factories, mines and utilities declined sharply during May, the latest month for which data are available,...

Japan Machine Tool Orders Rise at Accelerated Rate during June

07/11/17: One day after Japan’s Cabinet Office reported that new orders for machinery by Japan’s manufacturing companies declined for the second consecutive month during May, the Japan Machine Tool Builders Association reported...

Leading Indicators for Japan Giving Mixed Signals

07/10/17: The latest readings on some key leading economic indicators for Japan are giving mixed signals as to the near-term future direction of the country’s economy. Specifically, Japan’s Cabinet Office reported on July 9 that...

Great Britain Industrial Production Declines during May

07/07/17: The United Kingdom’s Office for National Statistics reported today that industrial production at Great Britain’s factories, mines and utilities declined during May, the latest month for which data are available, for...

Eurozone Retail Sales Rise for Fourth Consecutive Month

07/05/17: Eurostat reported today that sales at Eurozone retail stores rose for the fourth consecutive month during May, the latest month for which data are available. With the European Commission reporting on June 29 that...

Japan’s Economy Shows Signs of Weakening

06/30/17: After Japan’s Ministry of Economy, Trade and Industry reported yesterday that industrial production at the country’s factories, mines and utilities declined during May, the Japan Automobile Manufacturers Association...

Germany Business Climate Improves for Fifth Consecutive Month

06/29/17: Germany’s Ifo Institute for Economic Research reported today that its latest survey of executives at the country’s manufacturing companies, wholesalers and retail stores indicates that the overall business climate in...

Japan Retail Sales Decline during May

06/28/17: Japan’s the Ministry of Economy, Trade and Industry reported today that sales at the country’s retail stores declined during May for the first time since January of this year, falling by 1.6%, as compared to the prior...

Japan’s Exports Increase by Most Since September 2015

06/18/17: Japan’s Ministry of Finance reported today that the country’s exports of goods and services rose during May by the most since September 2015, on a year-over-year percentage change basis, increasing by 14.9%, as...

Great Britain Retail Sales Decline during May

06/15/17: The United Kingdom’s Department of National Statistics reported today that sales at Great Britain’s retail stores declined by 1.2% during May, as compared to the same month a year ago. Separately, the Bank of England...

Japan Machine Tool Orders Increase at a Slower Pace

06/12/17: The Japan Machine Tool Builders Association reported today that new orders for machine tools rose at a slower pace during May than during the prior month, indicating that economic activity in the country’s...

Eurozone Retail Sales Rise for Third Consecutive Month

06/06/17: Eurostat reported today that sales at Eurozone retail stores rose for the third consecutive month during April, the latest month for which data are available, increasing by 2.5%, as compared to the same month a year...

Germany Business Climate the Most Favorable since 1991

05/30/17: Germany’s Ifo Institute for Economic Research reported today that its latest survey of executives at the country’s manufacturing companies, wholesalers and retail stores indicates that the overall business climate in...

Japan Index of Leading Economic Indicators Revised Higher

05/24/17: Japan’s Cabinet Office reported today that it revised higher the country’s index of leading economic indicators (“LEI”). As a result of the revision, Japan’s LEI rose during March, the latest month for which data are...

Eurozone and Japan Manufacturing Activity Continues to Increase

05/23/17: IHS Markit reported today that its latest survey of purchasing managers at manufacturing companies in the Eurozone and Japan indicates that manufacturing activity in those regions continued to increase during the first half of May.

Japan Exports Slow during April

05/21/17: Data released today by Japan’s Customs Office indicate that the country’s exports rose for the fifth consecutive month during April, but that the pace of increase in its exports slowed to a 7.5% year-over-year rate,...

Great Britain Retail Sales Rise Sharply

05/18/17: The United Kingdom’s Office of National Statistics reported this morning that sales at Great Britain’s retail stores rose during April by 2.3%, as compared to the prior month, and by 4.0%, as compared to the same month...

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