International Economic Developments

Eurozone Industrial Production Rebounds during May

07/12/18: Eurostat reported today that industrial production at Eurozone factories, mines and utilities rebounded during May, the latest month for which data are available, after declining during three of the prior four months....

Japan Household Spending Declines Sharply

07/05/18: Japan’s Ministry of Internal Affairs and Communications reported today that overall household spending in Japan declined for the third consecutive month during May, the latest month for which data are available,...

Eurozone Retail Sales Slow While Producer Prices Accelerate

07/03/18: Eurostat reported today that sales at Eurozone retail stores were essentially unchanged during May, as compared to the prior month, after declining during April. In comparison to the same month a year ago, the rate of...

Japan Construction Orders Declines Sharply

06/29/18: Japan’s Ministry of Land, Infrastructure, Transport and Tourism reported today that new orders received by the country’s construction companies declined sharply during May, falling by 18.7%, as compared to the same...

Japan Retail Sales Continue to Slow

06/27/18: Data released today by Japan’s Ministry of Economy, Trade and Industry indicate that sales at the country’s retail stores continued to slow during May, with those sales increasing by only 0.6%, as compared to the same...

Eurozone Industrial Production Continues to Slow

06/13/18: Data released today by Eurostat indicate that industrial production at Eurozone factories, mines and utilities continued to increase at a slower year-over-year rate during April, the latest month for which data are...

Economic Indicators from Abroad Giving Mixed Signals

06/05/18: The latest readings on some key economic indicators from abroad are giving mixed signals regarding the future direction of economies in major regions of the world. For example, Eurostat reported today that sales at...

Japan Retail Sales Rebound during April

May 29, 2018: Japan’s Ministry of Economy, Trade and Industry reported today that sales at the country’s retail stores rose by 1.4% during April, as compared to the prior month, after declining by 0.7% during March. In...

Japan Exports Rise Sharply

05/21/18: Japan’s Customs Office reported today that the country’s exports rose sharply during April, increasing by 7.8%, as compared to the same month a year ago, after slowing considerably during each of the two prior months....

Japan Industrial Production Rises for Third Consecutive Month

05/16/18: 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 April, increasing by 1.4%, as...

Japan Machine Tool Orders Slow for Third Consecutive Month

05/14/18: The Japan Machine Tool Builders’ Association reported today that orders for machine tools from the country’s manufacturing companies rose at a slower rate for the third consecutive month during April, increasing...

India Industrial Output Slows for Second Consecutive Month

05/11/18: India’s Ministry of Statistics reported today that industrial output at the country’s factories, mines and utilities rose at a slower year-over-year rate during March, the latest month for which data are available, for...

Japan’s Small Business Owners become More Optimistic

05/10/18: Japan’s Cabinet Office reported today that its April survey of approximately 2,000 service-sector employees and small business owners throughout Japan indicates that those persons became more optimistic during April...

Japan Household Spending Declines during March

05/08/18: Japan’s Ministry of Internal Affairs and Communications reported today that overall household spending in Japan declined during March, the latest month for which data are available, as compared to the same month a year...

Eurozone Retail Sales Slow Substantially during March

05/04/18: In yet another sign that the pace of economic growth in the Eurozone appears to be in the process of slowing, Eurostat reported today that sales at Eurozone retail stores rose by a mere 0.8% during March, the latest...

Brazil Industrial Production Declines during March

05/03/18: Brazil’s Institute of Geography and Statistics reported today that industrial production at the country’s factories, mines and utilities declined during March, the latest month for which data are available, falling by...

Japan Manufacturing Activity Accelerates during April

05/01/18: IHS Markit reported today that its April survey of purchasing managers at Japan’s manufacturing companies indicates that manufacturing activity there accelerated during April, increasing for the 20th consecutive month....

ECB Maintains Key Lending Rates at Historically Low Levels

04/26/18: The European Central Bank (“ECB”) announced today that it will continue to maintain its key lending rates at historical lows, keeping its interest rate on the Bank’s main refinancing operations and the interest rates...

Eurozone ZEW Index Drops to Lowest Level since July 2016

04/17/18: 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-April to its...

China Exports Decline for the First Time since February 2017

04/13/18: China’s National Bureau of Statistics (“NBS”) announced today that the country’s exports declined during March for the first time since February 2017, falling by 2.7%, as compared to the same month a year ago. That’s a...

Japan Machine Tool Orders Decline for Second Consecutive Month

04/10/18: The Japan Machine Tool Builders Association reported today that new orders for machine tools from the country’s manufacturing companies slowed for the second consecutive month during March, with those orders increasing...

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...

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