Market growth has come despite trade wars between the United States and other trade partners, particularly China. Stocks propelled forward in July due to favorable economic indicators and encouraging corporate earnings reports.
Highlights:
- Annual inflation rose in May, indicating sustained demand
- GDP growth stable and moderate in the first quarter of 2015
- Annual wage growth gradually decreasing
In Focus:
- Economic situation and forecasts – growth slows down, risks remain high; by Igors Kasjanovs
E-UPDates—A Monthly Statistical Bulletin of Economic IndicatorsEcofin Surge
Monthly statistical e-bulletin comprising a quick review of the economy and about 30 tables and some charts with the latest available economic/financial market indicators, both Indian and Global.
"Highlights":
Consumer prices are on the rise though annual inflation remains negative
Surplus in the current account for the second consecutive quarter
Lending is back
"In Focus":
Macroeconomic forecasts, by: Igors Kasjanovs
Highlights:
- Annual inflation rose in May, indicating sustained demand
- GDP growth stable and moderate in the first quarter of 2015
- Annual wage growth gradually decreasing
In Focus:
- Economic situation and forecasts – growth slows down, risks remain high; by Igors Kasjanovs
E-UPDates—A Monthly Statistical Bulletin of Economic IndicatorsEcofin Surge
Monthly statistical e-bulletin comprising a quick review of the economy and about 30 tables and some charts with the latest available economic/financial market indicators, both Indian and Global.
"Highlights":
Consumer prices are on the rise though annual inflation remains negative
Surplus in the current account for the second consecutive quarter
Lending is back
"In Focus":
Macroeconomic forecasts, by: Igors Kasjanovs
Monthly statistical e-bulletin comprising a quick review of the economy and about 30 tables and some charts with the latest available economic/financial market indicators, both Indian and Global.
Monthly analysis of the performance of Uganda's economy with focus on macroeconomic indicators like inflation, exchange rate, private sector credit, imports and exports, revenue, expenditure, among others.
Ukraine Monthly Economic Review, June 2017 DIXI Group
Highlights
The government drafted a pension reform and introduced the bills to the Parliament. In its updated memorandum, the IMF is also demanding a land reform and additional measures against corruption. We think the next IMF tranche may be released after the summer break, likely in autumn 2017.
Recent economic indicators point to better economic conditions: Q1 GDP has been slightly revised upwards to 2.5% yoy, and the May figures for industrial production (1.2% yoy) and retail sales (10.7% yoy) have been better than expected. Nevertheless, with cumulative industrial output down in the first five months of 2017, we lowered our GDP growth estimate for 2017 from 2% to 1.5% yoy.
The inflation rate accelerated to 13.5 % yoy in May, due to higher food prices. Nevertheless, the National Bank may cut the key interest rate further by 50bp to 12% in order to support economic growth at its next meeting on Thursday, 6 July.
FX reserves reached USD 17.6 bn in end-May, given a favourable situation on the FX market allowing for FX purchases. The exchange rate traded rather stable around USD/UAH 26.
The NBU tweaked FX market regulation, simplifying investment abroad and FX forward transactions as well as introducing electronic FX transfer licenses for individuals.
This presentation provides analysis of GDP (Gross Domestic Product) for Canada. The presentation will highlight areas like consumer spending, exports, government spending and other areas.
Inflation is an increase in the aggregate money price level. In 2015, Vietnam has reached its lowest annual Consumer Price Index (“CPI”) in the last decade of 0.63%. This allowed the country to stimulate production and grow well for a short term. However, the inflation needs to increase to 4-5% for a long-term growth. Thus, the government has made some moves to spike up inflation at a control level in 2016. Along with this action, the increase in the world price of oil and the decrease in Vietnam’s food supply have contributed to the rise of inflation during the first five months of 2016. The inflation rate is projected to grow to more than 5% in the end of 2016 and will continuously grow in 2017.
This is a suggested answer to an exam-style question (for AS macro) on whether the Bank of England should start to raise interest rates to help sustain the UK economic recovery.
Ukraine Monthly Economic Review, July 2017 DIXI Group
Highlights
On 13 July, the Ukrainian Parliament approved a draft of the pension reform in the first reading. Thus, Ukraine moved one step closer to the next IMF tranche, and in our base case scenario the fourth review may be accomplished and the fifth tranche be released this fall.
After the decline in industrial output earlier this year, recent development shows a return to growth. Retail sales dynamics remain strong. Nevertheless, the National Bank slightly cut its growth estimate for this year on the weak H1 and a weaker harvest estimate. We keep our conservative growth estimate of 1.5% yoy for the time being.
Inflation surprised to the upside to 15.6% on higher food prices in June. We now see growing risk that inflation may leave targeted for this year range (8% yoy +/-2 pp) from the upper bound, i.e. resulting in low double-digit inflation at year-end. So far, we keep our 2017 forecast at 9.5% yoy (eop).
UAH strengthened vis-a-vis the dollar in July, falling below the level of USD/UAH 26 and allowing the NBU to increase FX reserves to almost USD 18 bn. With inflation risks elevated, the NBU stopped cutting its key rate and kept it stable at 12.5% in July and August. However, some additional restrictions on the FX market were removed or may be removed soon.
Monthly statistical e-bulletin comprising a quick review of the economy and about 30 tables and some charts with the latest available economic/financial market indicators, both Indian and Global.
Monthly analysis of the performance of Uganda's economy with focus on macroeconomic indicators like inflation, exchange rate, private sector credit, imports and exports, revenue, expenditure, among others.
Ukraine Monthly Economic Review, June 2017 DIXI Group
Highlights
The government drafted a pension reform and introduced the bills to the Parliament. In its updated memorandum, the IMF is also demanding a land reform and additional measures against corruption. We think the next IMF tranche may be released after the summer break, likely in autumn 2017.
Recent economic indicators point to better economic conditions: Q1 GDP has been slightly revised upwards to 2.5% yoy, and the May figures for industrial production (1.2% yoy) and retail sales (10.7% yoy) have been better than expected. Nevertheless, with cumulative industrial output down in the first five months of 2017, we lowered our GDP growth estimate for 2017 from 2% to 1.5% yoy.
The inflation rate accelerated to 13.5 % yoy in May, due to higher food prices. Nevertheless, the National Bank may cut the key interest rate further by 50bp to 12% in order to support economic growth at its next meeting on Thursday, 6 July.
FX reserves reached USD 17.6 bn in end-May, given a favourable situation on the FX market allowing for FX purchases. The exchange rate traded rather stable around USD/UAH 26.
The NBU tweaked FX market regulation, simplifying investment abroad and FX forward transactions as well as introducing electronic FX transfer licenses for individuals.
This presentation provides analysis of GDP (Gross Domestic Product) for Canada. The presentation will highlight areas like consumer spending, exports, government spending and other areas.
Inflation is an increase in the aggregate money price level. In 2015, Vietnam has reached its lowest annual Consumer Price Index (“CPI”) in the last decade of 0.63%. This allowed the country to stimulate production and grow well for a short term. However, the inflation needs to increase to 4-5% for a long-term growth. Thus, the government has made some moves to spike up inflation at a control level in 2016. Along with this action, the increase in the world price of oil and the decrease in Vietnam’s food supply have contributed to the rise of inflation during the first five months of 2016. The inflation rate is projected to grow to more than 5% in the end of 2016 and will continuously grow in 2017.
This is a suggested answer to an exam-style question (for AS macro) on whether the Bank of England should start to raise interest rates to help sustain the UK economic recovery.
Ukraine Monthly Economic Review, July 2017 DIXI Group
Highlights
On 13 July, the Ukrainian Parliament approved a draft of the pension reform in the first reading. Thus, Ukraine moved one step closer to the next IMF tranche, and in our base case scenario the fourth review may be accomplished and the fifth tranche be released this fall.
After the decline in industrial output earlier this year, recent development shows a return to growth. Retail sales dynamics remain strong. Nevertheless, the National Bank slightly cut its growth estimate for this year on the weak H1 and a weaker harvest estimate. We keep our conservative growth estimate of 1.5% yoy for the time being.
Inflation surprised to the upside to 15.6% on higher food prices in June. We now see growing risk that inflation may leave targeted for this year range (8% yoy +/-2 pp) from the upper bound, i.e. resulting in low double-digit inflation at year-end. So far, we keep our 2017 forecast at 9.5% yoy (eop).
UAH strengthened vis-a-vis the dollar in July, falling below the level of USD/UAH 26 and allowing the NBU to increase FX reserves to almost USD 18 bn. With inflation risks elevated, the NBU stopped cutting its key rate and kept it stable at 12.5% in July and August. However, some additional restrictions on the FX market were removed or may be removed soon.
The recent correction in global financial markets has left developed market equities about 10% cheaper and emerging market equities 25% cheaper, removing a lot of the valuation froth that was evident.
Commenting in Novare Investments’ economic report for the third quarter of 2015, Francois van der Merwe, Head of Macro Research, said: “We expect global equities to be supported by continued accommodative monetary policies, soft inflation and a moderate global economic recovery.
This article about study of current situation of economy and pandemic impact on global economy. How long it will take to recover with the quote of GDP growth and Service PMI of key nations.
This article about study of current situation of economy and pandemic impact ob global economy. How long it will take to recover with the quote of GDP growth and Service PMI of key nations.
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Our monthly economic review is intended to
provide background to recent developments in
investment markets as well as to give an
indication of how some key issues could impact in
the future.
Highlights
• As last newsletter predicted, manufacturing recovery has begun.
• Yet, exports will continue to stay depressed, SMEs will take a while to feel the positive swing.
• Prospects for emerging economies brighten, capital flows in.
• Inflows are notoriously fickle, so watch out for any turnaround if political factors disappoint.
India: Kal, aaj aur kal
The numbers are coming in clearer every month as Indian manufacturing recovers, thanks to strong domestic demand, due in large part to money from the pay commission, NREGS, high support prices for agri products last year etc. The fiscal stimulus began much before the global crisis hit India. We are not in anyway close to double digit growth, but the slump does seem to be over. Meanwhile, the stock market believes that all is well with the world, which isn’t true, of course, and if the election outcome disappoints in a fractured mandate, expect a rude shock once again.
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Introduction of GST in the Rajya Sabha has significance because it could have been passed in the Lok Sabha also. However, Rajya Sabha is where the government does not have majority and since it’s a constitutional amendment that requires two thirds majority, convincing all the parties is a key milestone and to that extent, introduction and subsequent passage of the bill in the Rajya Sabha will be important.
•Earnings Data for 8 core industries including mining, infrastructure and electricity was received which indicated a growth by 5.2% which augers well. However, one needs to see if this is a onetime occurrence or will it continue. Also, since rainfall was moderate, by the end of July, rural consumption is expected to be strong. To that extent, GDP is likely to grow anywhere between 7.5-8% this year. The government’s earlier projections in the budget carry an upward bias.
Interest rates rise on federal student loans for 2018 and 2019Jason Fuchs
Interest rates on federal student loans are set to rise for the second year in a row. This table shows the interest rates for new loans made on or after July 1, 2018, through June 30, 2019. The interest rate is fixed for the life of the loan.
Tax Benefits of Homeownership After Tax ReformJason Fuchs
Recent tax reform legislation may have reduced the tax benefits of homeownership for some by (1) substantially increasing the standard deduction, (2) lowering the amount of mortgage debt on which interest is deductible, and (3) limiting the amount of state and local taxes that can be deducted. On the other hand, the tax benefits of homeownership may have increased for some because the overall limit on itemized deductions based on adjusted gross income has been suspended. You generally can choose between claiming the standard deduction or itemizing certain deductions (including the deductions for mortgage interest and state and local taxes). These changes are generally effective for 2018 to 2025.
Have you made any of these financial mistakes? Jason Fuchs
As people move through different stages of life, there are new financial opportunities — and potential pitfalls — around every
corner. Have you made any of these mistakes? Let me know how I can help.
Pain at the pump why does it cost more to fill your tankJason Fuchs
Prices at the pump eased off a little in June, but motorists can expect an expensive summer behind the wheel. If you're like most consumers, you may feel that you're playing gas-price roulette every time you fill the tank. Why are prices so volatile? And why is the trend so much higher now than last year?
Interest rates rise on federal student loans for 2018 and 2019Jason Fuchs
Interest rates on federal student loans are set to rise for the second year in a row.
Subsidized vs. unsubsidized, what's the difference? With subsidized loans, the federal government pays the interest that accrues while the student is in school, during the six-month grace period after graduation, and during any loan deferment periods. With unsubsidized loans, the borrower is responsible for paying the interest during these periods. Only undergraduate students are eligible for subsidized loans, and eligibility is based on demonstrated financial need.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
1. NettWorth Financial Group
Jason Fuchs
*Wealth Manager
240 Canal Blvd, Ste 6
Ponte Vedra Beach, FL 32082
904-395-3806
Branch 904-834-2998
jfuchs@nettworth.us
http://www.jasonfuchs.com
Market Month: July 2018
August 01, 2018
The Markets (as of market close July 31, 2018)
Favorable economic indicators and encouraging corporate earnings reports helped propel stocks forward in
July. Market growth has come despite trade wars between the United States and other trade partners,
particularly China. Earlier in the month, the world's two largest economies imposed tariffs of $34 billion on
each other's goods. Toward the end of July, there was hope of reopening negotiations between the United
States and China in an attempt to diffuse the ongoing trade war. Domestically, the U.S. economy appears
to be thriving. Over 210,000 new jobs were added in June, although wages have grown by only 2.7% over
the last 12 months. Nevertheless, consumers are making more and spending more, while inflationary
pressures on prices for goods and services remain in check.
Despite some periods of volatility, July proved to be a very good month for the benchmark indexes listed
here. Led by the Dow, large caps, small caps, and tech stocks gained value over their respective June
closing prices. Year-to-date, the Nasdaq is ahead by over 11.0%, followed by the Russell 2000, the S&P
500, the Dow, and the Global Dow, which is only 0.20% above its 2017 year-end value.
By the close of trading on July 31, the price of crude oil (WTI) was $68.43 per barrel, down from the June
29 price of $74.25 per barrel. The national average retail regular gasoline price was $2.772 per gallon on
July 30, down from the June 25 selling price of $2.833 but $0.305 more than a year ago. The price of gold
decreased by the end of July, closing at $1,232.90 on the last trading day of the month, down from its price
of $1,254.20 at the end of June.
Market/Index 2017 Close Prior Month As of July 31 Month Change YTD Change
DJIA 24719.22 24271.41 25415.19 4.71% 2.82%
NASDAQ 6903.39 7510.30 7671.79 2.15% 11.13%
S&P 500 2673.61 2718.37 2816.29 3.60% 5.34%
Russell 2000 1535.51 1643.07 1670.80 1.69% 8.81%
Global Dow 3085.41 2979.52 3091.69 3.76% 0.20%
Fed. Funds 1.25%-1.50% 1.75%-2.00% 1.75%-2.00% 0 bps 50 bps
10-year
Treasuries
2.41% 2.86% 2.96% 10 bps 55 bps
Chart reflects price changes, not total return. Because it does not include dividends or splits, it should not
be used to benchmark performance of specific investments.
Last Month's Economic News
• Employment: Total employment rose by 213,000 in June after adding 244,000 (revised) new jobs in
May. The average monthly gain over the last three months is 211,000. Total employment has grown by
2.4 million over the last 12 months ended in June. Notable employment gains for the month occurred in
professional and business services (50,000), manufacturing (36,000), and health care (25,000). Retail
trade, which had posted notable job gains in May, lost 22,000 jobs in June. The unemployment rate rose
to 4.0% from 3.8%. The number of unemployed persons increased by 499,000 to 6.6 million. A year
Page 1 of 3, see disclaimer on final page
2. earlier, the jobless rate was 4.3% and the number of unemployed persons was 7.0 million. The labor
participation rate edged up 0.2 percentage point over the month to 62.9%. The employment-population
ratio held at 60.4%. The average workweek was unchanged at 34.5 hours for the month. Average hourly
earnings increased by $0.05 to $26.98. Over the last 12 months, average hourly earnings have risen
$0.72, or 2.7%.
• FOMC/interest rates: The Federal Open Market Committee does not conclude its next meeting until
August 1. It is possible that interest rates will remain the same following this meeting. However, unless
economic circumstances change dramatically over the next several months, it is likely that rates will be
increased twice more before the end of 2018.
• GDP/budget: The second-quarter gross domestic product showed the economy expanded at an annual
rate of 4.1%, according to the Bureau of Economic Analysis. The first-quarter GDP grew at an
annualized rate of 2.2%. According to the report, consumer spending (personal consumption
expenditures) surged, expanding at a rate of 4.0%. Net exports expanded by 9.3%. This is the first, or
advance, estimate for the second quarter GDP. The next estimates, in August and September, will
include more complete economic data. With only three months remaining in the fiscal year, the
government budget deficit sits at $607.1 billion through June 30. Over the same period last year, the
budget deficit was $523.1 billion — a difference of about 16%.
• Inflation/consumer spending: Consumer spending, as measured by personal consumption
expenditures, jumped 0.4% in June after climbing 0.5% (revised) in May. Core consumer prices, a
tracker of inflationary trends, increased 0.1% in June. Core prices have increased 1.9% over the last 12
months.
• The Consumer Price Index rose 0.1% in June after increasing 0.2% in May. Over the last 12 months
ended in June, consumer prices are up 2.9% — the largest 12-month increase since the period ended
February 2012. Core prices, which exclude food and energy, climbed 0.2% for the month, and are up
2.3% for the year.
• The Producer Price Index showed the prices companies receive for goods and services climbed 0.3%
following a 0.5% jump in May. Producer prices have increased 3.4% over the 12 months ended in June,
which is the largest 12-month increase since climbing 3.7% in November 2011. Prices less food and
energy increased 0.3% for June and are up 2.7% over the last 12 months. Prices for services moved up
0.4% in June.
• Housing: Sales of existing homes continued to slow in June. Total existing-home sales fell 0.6% for the
month after dropping 0.4% in May. Year-over-year, existing home sales are down 2.2%. The June
median price for existing homes was $276,900, which is 5.2% higher than the June 2017 price of
$263,300. Inventory for all types of existing homes for sale rose 4.3% in June — 0.5% above a year ago.
New home sales regressed in June after climbing 6.7% in May. The median sales price of new houses
sold in June was $302,100 ($313,000 in May). The average sales price was $363,300 ($368,500 in
May). Inventory rose slightly in June to 5.7 months, up from the 5.2-month supply in May.
• Manufacturing: Industrial production advanced 0.6% in June after edging down 0.1% in May. For the
second quarter as a whole, industrial production advanced at an annual rate of 6.0% — its third
consecutive quarterly increase. Manufacturing output increased 0.8% following a 0.7% drop in May. The
index for mining rose 1.2%, its fifth consecutive month of growth. The output of utilities fell 1.5%.
Capacity utilization, which estimates the potential for sustainable output for total industrial production,
rose 0.3 percentage point for the month, and is up 1.5% over the last 12 months. New orders for
manufactured durable goods climbed 1.0% in June following a 0.3% drop in May.
• Imports and exports: The advance report on international trade in goods revealed that the trade gap
expanded by $3.6 billion in June, or 5.5%, over May. The deficit for June was $68.3 billion (the May
deficit was $64.8 billion). June exports of goods fell 1.5%, while imports increased 0.6%. On a
seasonally adjusted basis, June's total imports ($210,263 billion) far exceeded exports ($141,931
billion). Prices for imported goods fell 0.4% in June, while export prices rose 0.3%. Over the last twelve
months ended in June, import prices are up 4.3%, while export prices have advanced 5.3%. Overall,
increasing tariffs don't appear to be a factor in prices, at least for June.
• International markets: European stocks got a boost from favorable corporate earnings reports and
positive rhetoric emanating from a meeting between President Trump and European Commission
President Juncker aimed at reducing reciprocal tariffs between the governing bodies. Japan and the
European Union agreed to a free-trade pact that is targeted at reducing tariffs on Japanese automobiles
and parts and European foods imported by Japan. The Chinese yuan has lost value compared to the
dollar. Speculation is that the Chinese government is allowing its currency to weaken, lowering the cost
of Chinese exports around the world, which may help offset the effect of U.S. tariffs on Chinese imports.
Nevertheless, economic growth in China has slowed as a result of the tariff war with the United States.
• Consumer confidence: Consumer confidence, as measured by The Conference Board Consumer
Key Dates/Data Releases
8/1: FOMC announcement,
PMI Manufacturing Index,
ISM Manufacturing Index
8/5: Employment situation,
international trade
8/7: JOLTS
8/9: Producer Price Index
8/10: Consumer Price Index,
Treasury budget
8/14: Import and export
prices
8/15: Retail sales, industrial
production
8/16: Housing starts
8/22: Existing home sales
8/23: New home sales
8/24: Durable goods orders
8/28: International trade in
goods
8/29: GDP
8/30: Personal income and
outlays
Page 2 of 3, see disclaimer on final page
3. Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2018Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2018
Confidence Index®, gained some positive traction after dipping in June. According to the report,
consumers' confidence in the present economic conditions improved, but expectations for future growth
were tempered.
Eye on the Month Ahead
The economy continues to show signs of strengthening despite trade wars, rising interest rates, and a
stagnant real estate market. The labor market is expected to maintain its strong pace, while industrial
production has been steady. Overall, August should see ongoing economic strengthening.
Data sources: Economic: Based on data from U.S. Bureau of Labor Statistics (unemployment, inflation);
U.S. Department of Commerce (GDP, corporate profits, retail sales, housing); S&P/Case-Shiller 20-City
Composite Index (home prices); Institute for Supply Management (manufacturing/services). Performance:
Based on data reported in WSJ Market Data Center (indexes); U.S. Treasury (Treasury yields); U.S.
Energy Information Administration/Bloomberg.com Market Data (oil spot price, WTI Cushing, OK);
www.goldprice.org (spot gold/silver); Oanda/FX Street (currency exchange rates). News items are based
on reports from multiple commonly available international news sources (i.e. wire services) and are
independently verified when necessary with secondary sources such as government agencies, corporate
press releases, or trade organizations. All information is based on sources deemed reliable, but no
warranty or guarantee is made as to its accuracy or completeness. Neither the information nor any opinion
expressed herein constitutes a solicitation for the purchase or sale of any securities, and should not be
relied on as financial advice. Past performance is no guarantee of future results. All investing involves risk,
including the potential loss of principal, and there can be no guarantee that any investing strategy will be
successful.
The Dow Jones Industrial Average (DJIA) is a price-weighted index composed of 30 widely traded
blue-chip U.S. common stocks. The S&P 500 is a market-cap weighted index composed of the common
stocks of 500 leading companies in leading industries of the U.S. economy. The NASDAQ Composite Index
is a market-value weighted index of all common stocks listed on the NASDAQ stock exchange. The Russell
2000 is a market-cap weighted index composed of 2,000 U.S. small-cap common stocks. The Global Dow
is an equally weighted index of 150 widely traded blue-chip common stocks worldwide. The U.S. Dollar
Index is a geometrically weighted index of the value of the U.S. dollar relative to six foreign currencies.
Market indices listed are unmanaged and are not available for direct investment.
*Securities and advisory services offered through FSC Securities Corporation (FSC) member FINRA / SIPC
. FSC is separately owned and other entities and/or marketing names, products or services referenced here
are independent of FSC. Your Company and/or representative Union does not sponsor or endorse
NettWorth. NettWorth Financial Group and FSC Securities Corporation are not affiliated or employed by
your Company and/or representative union.
This message may contain confidential information and is intended for use only by the addressee(s) named
on this transmission.
Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, or legal advice. The
information presented here is not specific to any individual's personal circumstances.
To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be
used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer
should seek independent advice from a tax professional based on his or her individual circumstances.
These materials are provided for general information and educational purposes based upon publicly
available information from sources believed to be reliable—we cannot assure the accuracy or completeness
of these materials. The information in these materials may change at any time and without notice.
Page 3 of 3