Economic Reports 07/17/07
Summary: Net foreign purchases increasing, but foreign inflows are down 23% this year and private party inflows are down 34%.
As the housing debacle continues, NAHB/WF Housing index plunging to its lowest since Jan 1991.
Headline PPI decreasing, but core increasing as intermediate goods skyrocketed.
Industrial production ex auto up, but auto, construction & business equipment still in the red YOY.
Net Foreign Purchases May $126.1B vs prior $80.3B Full Report
Inside the number: prior revised down from $84.1B. Foreign holding of Treasury Bills negative again -4.5B vs prior -28.6B.
Treasury Bonds & Notes Private parties picking up the slack, +26.2B vs prior -9B; official -4.6B vs prior +9.4B.
Net TIC inflows, 12 months ending May 07: 823.6B vs May 06 1088.5B, a DECREASE of 24.3%. Private party 643.2B vs 975.4B, a DECREASE of 34%.
NAHB/WF Housing Market Index 24 vs prior 28 Full Report
Inside the number: Lowest since Jan 1991.
"A surplus of unsold homes on the market, combined with ongoing concerns in the subprime mortgage arena and affordability issues associated with tightened lending standards and higher interest rates, continue to take a significant toll on builder confidence."
PPI Jun -0.2% vs prior +0.9% Full Report
Inside the number: Core PPI Jun +0.3% vs prior +0.2%. Core intermediate goods +0.4%.
3 months ended June 07: Crude Food & Feed +12.3%; intermediate materials +10.4%.
Manufacturing materials for; durable goods +17.7; non durable goods +20.9%. Finished energy goods +28.6%.
Trying to eat healthy... Yoy % change: Dairy +25.1%; Chicken +18.4%; Milled rice +16.2. Now repeat after me, inflation is tame, wink, wink, nudge, nudge...
Industrial Production Jun +0.5% vs prior -0.1% Full Report
Inside the number: Capacity Utilization Jun 81.7% vs prior 81.4%. Manufacturing +0.6% vs prior FLAT.
Business equipment FLAT vs prior FLAT. Industrial business equipment -0.6% vs prior +0.4%. Durable Machinery -1.2% vs prior +0.5%.
Yoy % change motor vehicles -2.5%; construction supplies -1.6%.
As the housing debacle continues, NAHB/WF Housing index plunging to its lowest since Jan 1991.
Headline PPI decreasing, but core increasing as intermediate goods skyrocketed.
Industrial production ex auto up, but auto, construction & business equipment still in the red YOY.
Net Foreign Purchases May $126.1B vs prior $80.3B Full Report
Inside the number: prior revised down from $84.1B. Foreign holding of Treasury Bills negative again -4.5B vs prior -28.6B.
Treasury Bonds & Notes Private parties picking up the slack, +26.2B vs prior -9B; official -4.6B vs prior +9.4B.
Net TIC inflows, 12 months ending May 07: 823.6B vs May 06 1088.5B, a DECREASE of 24.3%. Private party 643.2B vs 975.4B, a DECREASE of 34%.
NAHB/WF Housing Market Index 24 vs prior 28 Full Report
Inside the number: Lowest since Jan 1991.
"A surplus of unsold homes on the market, combined with ongoing concerns in the subprime mortgage arena and affordability issues associated with tightened lending standards and higher interest rates, continue to take a significant toll on builder confidence."
PPI Jun -0.2% vs prior +0.9% Full Report
Inside the number: Core PPI Jun +0.3% vs prior +0.2%. Core intermediate goods +0.4%.
3 months ended June 07: Crude Food & Feed +12.3%; intermediate materials +10.4%.
Manufacturing materials for; durable goods +17.7; non durable goods +20.9%. Finished energy goods +28.6%.
Trying to eat healthy... Yoy % change: Dairy +25.1%; Chicken +18.4%; Milled rice +16.2. Now repeat after me, inflation is tame, wink, wink, nudge, nudge...
Industrial Production Jun +0.5% vs prior -0.1% Full Report
Inside the number: Capacity Utilization Jun 81.7% vs prior 81.4%. Manufacturing +0.6% vs prior FLAT.
Business equipment FLAT vs prior FLAT. Industrial business equipment -0.6% vs prior +0.4%. Durable Machinery -1.2% vs prior +0.5%.
Yoy % change motor vehicles -2.5%; construction supplies -1.6%.
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