International Economic Developments

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,...

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...

Japan’s Economy Expands at an Accelerating Rate

05/17/17: Japan’s Cabinet Office reported today that the country’s economy expanded at a 2.1% inflation- and seasonally-adjusted annualized rate during the first quarter of this year, after growing at a 1.4% and 1.0% annualized rate during the quarters ended December 31, 2016 and September 30, 2016, respectively.

China’s Retail Sales and Industrial Production Slow

05/15/17: Data released today by China’s National Bureau of Statistics (“NBR”) indicate that the pace of increase in sales at China’s retail stores, and industrial production at the country’s factories, mines and utilities, slowed during March, the latest date for which data are available.

Economic Outlook for Japan in Question, While the United Kingdom’s and Brazil’s Economy Worsens

05/11/17: 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 throughout Japan regarding their assessment of economic developments there, rose considerably during April, as compared to the prior month. However, the reading on that leading economic indicator remained below 50, which indicates that Japan’s households and business owners are somewhat pessimistic regarding the direction of Japan’s for the next six months.

China Exports Increase at Slower Rate during April

05/08/17: China’s National Bureau of Statistics reported today that the country’s exports rose for the second consecutive month during April, but that the rate of increase in exports slowed after rising sharply during the prior...

ECB and Bank of Japan Maintain Key Lending Rates at Historically Low Levels

04/27/17: 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 government bonds, respectively, in the open market.

Japan Exports Rise for Fourth Consecutive Month

04/20/17: Japan’s Customs Office reported today that the country’s exports rose during March for the fourth consecutive month and at the fastest year-over-year rate since January 2015, increasing by 12%, as compared to the same month a year ago.

China’s Economy Grows at Fastest Pace since Third Quarter of 2015

04/17/17: China’s National Bureau of Statistics (“NBS”) reported today that the country’s economy expanded during the first quarter of this year at the fastest year-over-year rate since the third quarter of 2015, with it gross domestic product (“GDP”) increasing by 6.9%, as compared to the same period a year ago. In comparison, Wall Street economists were estimating, on average, that China’s Q1 2017 GDP had risen by only 6.8%.

Japan Industrial Production Rises for Second Consecutive Month

04/14/17: Japan’s Ministry of Economy, Trade and Industry reported today that industrial production at the country’s factories, mines and utilities rose during March for the second consecutive month and at the fast monthly pace since March 2016.

India Industrial Production Decline, Brazil Retail Sales Fall

04/12/17: India’s Ministry of Statistics reported today that industrial production at the country’s factories, mines and utilities declined by 1.2% during February, the latest month for which data are available, as compared to...

Eurozone Retail Sales Accelerate during February

04/04/17: Eurostat, the statistical agency of the European Union, reported today that sales at Eurozone retail stores rose during February after declining, on a month-to-month basis, during each of the three prior months.

Japan’s Retail Sales Rise for the Second Consecutive Month

03/28/17: Japan’s Ministry of Economy, Trade and Industry reported today that sales at the country’s retail stores rose for the second consecutive month during February. On a year-over-year basis, Japan’s retail sales rose for...

Britain’s Retail Sales Rise Sharply during February

03/23/17: The United Kingdom’s Office of Statistics reported today that sales at Britain’s retail stores rose sharply during February, increasing by 3.7%, as compared to the same month a year ago, and by 1.4% compared to...

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