- Sweden: Consumer Confidence, Business Tendency Survey, Public Finance (Mar)
- Spain: Mortgage Market (Jan), Order Book Forecast (Mar)
- Italy: ISTAT Business & Consumer Survey Press Release (Mar)
- Germany: Business Registrations & Deregistrations (Dec), Import & Export Prices (Feb), IAB Labor Market Barometer (Mar)
- Vietnam: GDP (Q1), CPI, IP, International Trade, Passenger & Cargo Traffic Statistics, Manufacturing Sales and Inventories, International Visitor Arrivals (Mar); Korea: Economic Sentiment
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Economy in Brief
U.S. Energy Product Prices Remain Under Pressure
Regular gasoline prices held steady at $2.32 per gallon last week (12.1% y/y) for the third straight week...
German Federal Debt Levels Fall
German debt level fell outright in Q4 2016 as the ratio of federal debt-to-GDP also fell...
NABE 2018 Forecast: Modest Improvement in Economic Growth & Higher Inflation
The NABE expects 2.5% real U.S. economic growth in 2018 compared to 2.3% forecast for 2017...
Texas Factory Sector Activity Remains Strong
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March...
EMU Money and Credit Growth Are Less Than Impressive Than Euro-PMIs
EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower...
Durable Goods Orders Strengthened by Another Jump in Aircraft
New orders for durable goods rose 1.7% (5.0% y/y) during February...
by Tom Moeller February 10, 2017
Import prices increased 0.4% (3.7% y/y) during January after a 0.5% December rise, revised from 0.4%. A 0.3% increase had been expected in the Action Economics Forecast Survey. These figures are not seasonally adjusted.
Petroleum import prices provided strength to the overall import price index with a 5.2% jump following a 6.8% increase. Prices have increased by roughly two-thirds y/y. Nonpetroleum import prices remained steady m/m, but the change versus last year improved to 0.3% after declines in three of the last four years. Foods, feeds & beverage prices fell 1.3% last month (+2.0% y/y), following declines in two of the three prior months. Motor vehicle & parts costs fell 0.5%, though prices were little changed y/y. Capital goods prices eased 0.1%. The 1.1% y/y decline is less than recorded in 2015 and 2016. Nonauto consumer goods prices also slipped 0.1% while the y/y decline accelerated to -0.9%. Industrial supplies & materials prices excluding petroleum jumped 1.3% (5.4% y/y).
Export prices improved 0.1% following a 0.4% rise. The y/y increase of 2.3% follows sharp declines in the last two years.
Agricultural commodity prices eased 0.1%, but the y/y change turned positive for the first time since 2014. Nonagricultural export prices improved 0.1% last month. Prices increased 2.4 y/y after declines dating back to 2012. Foods, feeds & beverage prices increased 0.6% (1.6% y/y). Industrial supplies & materials costs jumped 0.5% (9.2% y/y) as petroleum prices strengthened 34.2% y/y. Nonagricultural supplies & materials prices excluding fuels & building materials rose 0.1% m/m (2.5% y/y) after sharp declines in dating back to 2012. Capital goods prices eased 0.1% (-0.2% y/y) as computer & peripheral product prices declined 3.1% y/y. Motor vehicle & parts prices strengthened 0.4% (-0.4% y/y). Nonauto consumer goods prices fell 1.0% and the y/y decline intensified to -2.6%.
The import and export price series can be found in Haver's USECON database. Detailed figures are available in the USINT database. The expectations figure from the Action Economics Forecast Survey is in the AS1REPNA database.
|Import/Export Prices (NSA, %)||Jan||Dec||Nov||Jan Y/Y||2016||2015||2014|
|Imports - All Commodities||0.4||0.5||-0.1||3.7||-3.3||-10.2||-1.1|
|Exports - All Commodities||0.1||0.4||0.1||2.3||-3.2||-6.3||-0.5|