International Economic Developments

Eurozone Retail Sales Rebound during February

04/05/18: Eurostat reported today that sales at Eurozone retail stores rebounded modestly during February, after declining during each of the two prior months. Specifically, Eurostat reported that Eurozone retail sales rose by...

Japan Auto Production Declines for Second Consecutive Month

03/30/18: The Japan Automobile Manufacturers Association reported today that the country’s production of automobiles declined for the second consecutive month during February, dropping by 2.6%, as compared to the same month ago,...

Japan Industrial Production Rebounds during February

03/29/18: Japan’s Ministry of Economy, Trade and Industry (“METI”) reported today that industrial production at the country’s factories, mines and utilities rose during February, after declining during January. Specifically,...

Japan Retail Sales Rebound during February

03/28/18: Japan’s Ministry of Economy, Trade and Industry (“METI”) reported today that sales at the country’s retail stores rebounded during February, as compared to the prior month, after declining during January. Specifically,...

ZEW Index Falls to Lowest Level since October 2016

03/20/18: The Centre for European Economic Research (“CEER” or “ZEW” in German) reported today that its ZEW Index, which measures the economic sentiment of Eurozone institutional investors, declined during mid-March to its...

Japan Exports Increase at Slowest Pace since January 2017

03/18/18: Japan’s Customs Office reported today that the country’s exports rose during February at the slowest year-over-year rate since January 2017, increasing by only xx%, as compared to the same month a year ago. That’s a...

Japan Machine Tool Orders Slow Substantially during February

03/12/18: The Japan Machine Tool Builders Association reported today that new orders for machine tools from the country’s manufacturing companies slowed substantially during February, with those orders increasing by 39.5%, as...

China Exports Rise by 44.5% during February

03/08/18: China’s National Bureau of Statistics (“NBS”) announced today that the country’s exports soared during February, increasing at the fastest year-over-year pace since February 2015. Specifically, China’s NBS reported...

Brazil Industrial Production Declines during January

03/06/18: Brazil’s Institute of Geography and Statistics reported today that industrial production at the nation’s factories, mines and utilities declined during January, the latest month for which data are available, after...

Eurozone Retail Sales Decline for Second Consecutive Month

03/05/18: Eurostat reported today that sales at Eurozone retail stores declined for the second consecutive month during January, the latest month for which data are available, falling by 1%, as compared to the prior month. On a...

Japan Exports Rebound during January

02/19/18: Japan’s Customs Office reported yesterday evening that the country’s exports rebounded during January, increasing by xx%, as compared to the same month a year ago, following an xx% year-over-year increase during...

Japan Industrial Production Rises for Third Consecutive Month

02/15/18: Japan’s Ministry of Economy, Trade and Industry reported today that industrial production at the country’s factories, mines and utilities rose for the third consecutive month during December, the latest month for which...

Eurozone Retail Sales Decline during December

02/05/18: Eurostat reported this morning that sales at Eurozone retail stores declined by 1.1% during December, as compared to the prior month, after increasing by 1.5% during November 2016. In comparison to the same month a...

Manufacturing Activity around the World Continues to Increase

02/01/18: The latest surveys of purchasing managers at manufacturing companies around the world indicate that manufacturing activity in major regions of the world continued to increase during January. Specifically, those surveys...

Japan Construction Spending Declines during December

01/31/18: Japan’s Ministry of Land, Infrastructure, Transport reported today that construction spending in Japan declined by 8.1% during December, the latest month for which data are available, as compared to the same month a...

Japan Retail Sales Increase at Fastest Pace since October 2016

01/29/18: Data released today by Japan’s Ministry of Economy, Trade and Industry indicate that sales at the country’s retail stores rose during December at the fastest pace since October 2016, increasing by 1.9%, as compared to...

ECB Maintains Key Lending Rates at 0.00%, 0.25% and -0.40%

01/25/18: The European Central Bank (“ECB”) continues to maintain a policy that it began during March 2016, announcing this morning that it will keep its interest rate on the Bank’s main refinancing operations and the interest...

Western Europeans Most Optimistic since August 2000

01/23/18: The European Commission reported today that its mid-January survey of thousands of individuals and families that reside in the Eurozone indicates that Western Europeans became the most optimistic regarding their...

Japan Machinery Orders Rise for Second Consecutive Month

01/16/18: Japan’s Cabinet Office reported today that orders for machinery rose for the second consecutive month during November, the latest month for which data are available, increasing by 5.7%, as compared to the prior month,...

Japan Eco Watchers’ Indices Decline during December

01/12/18: Japan’s Cabinet Office reported today that its Eco Watchers Index of current economic conditions, which is based on responses to questions posed every month to approximately 2,000 service-sector employees and small...

Eurozone Retail Sales Rebound on Positive Economic Sentiment

01/08/18: Eurostat reported today that sales at Eurozone retail stores rebounded during November, the latest month for which data are available, after declining sharply during the prior month, as Europeans became more optimistic...

Japan Retail Sales Rise, Industrial Production Slows

12/28/17: The latest economic indicators for Japan are somewhat mixed, with Japan’s Ministry of Economy, Trade and Industry (“METI”) reporting today that sales at the country’s retail stores rose but that industrial production...

Japan Leading Indicators Increase during November

12/26/17: Japan’s Customs Office reported yesterday that its index of leading economic indicators for the country rose during November after declining during each of the two prior months. Separately, Japan’s Ministry of Internal...

Bank of Japan Leaves Key Lending Rates Unchanged

12/21/17: The Bank of Japan announced today that it will continue to apply a negative interest rate of minus 0.1% to the Policy-Rate Balances in current accounts held by financial institutions at the Bank, a policy that the Bank...

Japan Exports Accelerate during November

12/18/17: Japan’s Customs Department reported today that the country’s exports rose during November at the fastest year-over-year rate since August, increasing by 16.2%, as compared to the same month a year ago. Last month’s...

Eurozone Industrial Production Rebounds Modestly

12/13/17: Eurostat reported today that industrial production at Eurozone factories, mines and utilities rebounded modestly during October, the latest month for which data are available, after declining during the prior month....

Japan Machine Tool Orders Slow during November

12/11/17: The Japan Machine Tool Builders’ Association reported today that new orders from the country’s manufacturers for machine tools rose for the 12th consecutive month during November, but at a slower pace than during...

Eurozone Retail Sales Fall Sharply during October

12/05/17: Eurostat reported today that sales at Eurozone retail stores declined during October, the latest month for which data are available, at the fastest rate since September 2014, falling by 1.1%, as compared to the prior...

Japan Capital Spending Rises, Housing Starts Fall

11/30/17: Japan’s Ministry of Finance reported today that business expenditures on equipment and operating facilities – capital spending – rose by 4.2% for the quarter ended September 30, 2017, as compared to the same quarter a...

Japan Retail Sales Unchanged During October

11/28/17: Japan’s Ministry of Economy, Trade and Industry reported today that sales at the country’s retail stores were unchanged during October, as compared to the prior month. On a year-over-year basis, Japan’s retail sales...

Japan’s Export Growth Unchanged during October

11/20/17: Japan’s Customs Office reported today that the country’s exports of goods and services rose during October at approximately the same rate as during the prior month, increasing by 14%, as compared to the same month a...

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,...

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