2009

Canadian wholesale sales in current dollars fell 0.3% to $40.1billion in May, its lowest level since December 2005. In volume terms, wholesale sales were unchanged in May. Weaker sales in the machinery and equipment, food, and metal products trade groups were the major factors contributing to the decrease during the month. With May’s decline, wholesale sales have fallen for eight consecutive months.

In current dollars, four of the seven sectors, accounting for just over half of total wholesale sales, declined in May.

Sales in the machinery and electronic equipment sector fell0.2% in May. Almost half of this sector is accounted for by the machinery and equipment trade group, which declined 2.3%. Sales in this trade group have declined almost20% since their September2008peak.
The …

The Chicago Fed National Activity Index was -1.80 in June, up from -2.30 in May. All four broad categories of indicators continued to make negative contributions to the index, with employment and housing-related indicators accounting for much of the weakness in June.

The three-month moving average, CFNAI-MA3, was -2.12 in June, up from -2.65 in the previous month. June’s CFNAI-MA3 suggests that growth in national economic activity was well below its historical trend. With regard to inflation, the amount of economic slack reflected in the CFNAI-MA3 indicates low inflationary pressure from economic activity over the coming year.

The increase in the index was primarily due to the production and income category of indicators. This category made a smaller negative contribution to the …

The Conference Board Leading Economic Index for the U.S. increased for the third consecutive month in June, improving 0.7%. The six-month change in the index has risen to 2.0% (a 4.1% annual rate) in the period through June, up substantially from -3.1% (a -6.2% annual rate) for the previous six months, and the strengths among the leading indicators have remained balanced with the weaknesses in recent months. The Conference Board LEI for the U.S. now stands at 100.9 (2004=100).

The Coincident Economic Index for the U.S. continued to decrease in June amid further contractions in employment and industrial production, posting a negative 0.2%.

Between December 2008 and June 2009, the index fell 3.0% (a -5.9% annual rate), slightly faster than the decline of 2.8% (a -5.6% annual rate) for …