Thursday, September 01, 2011

Misc: Germany economy "resilient", GDP per capita

by Bill McBride on 9/01/2011 12:12:00 AM

• From the WSJ: Germany's Resiliency Buoys Europe

A pair of bullish reports, on German employment and manufacturing, were reassuring on Wednesday: Unemployment remained at its lowest level in nearly two decades last month, while July machine orders jumped 9% from a year earlier. The latest data suggest that Europe's largest economy, which is expected to grow 3% this year, remains resilient ...
• This is similar to the recession measure graphs I posted from Doug Short: Real GDP per Capita
[Doug's] preferred GDP metric is the per-capita variant. I take real GDP and divide it by the mid-month population estimates from the Census Bureau, which has reported this data from 1959 (hence my 1960 starting date). By this measure, Q2 2011 GDP is 3.4% off its peak.
Check out the 2nd graph at Doug's site.

ADP: Private Employment increased 91,000 in August
CoreLogic: Home Price Index increased 0.8% in July
Restaurant Performance Index declined in July
Fannie Mae and Freddie Mac Serious Delinquency Rates mostly unchanged in July