Economy in Brief: 2015

Gasoline prices continued upward by 14 cents last week to $2.47 per gallon (-28.9% y/y) following the prior week's 6 cent increase. Prices have risen 43 cents (21.0%) since the low 5 weeks ago. Despite the gains, prices remained well [...]

Prices in the euro area continue to push lower as weak growth and dropping energy prices undercut the strength from price trends on two separate fronts. As the chart shows, PPI and CPI trends are pressing lower in the EMU. The table [...]

The value of construction put-in-place declined 1.1% during January (+1.8% y/y) following a 0.8% improvement, revised from 0.4%. A 0.3% rise had been expected in the Action Economics Forecast Survey. Private construction activity fell [...]

Factory sector momentum continues to slacken. The February reading from the Institute for Supply Management (ISM) declined to 52.9 following its January drop to an unrevised 53.5. It was the fifth m/m decline in the index in the last [...]

European unemployment rates show more pervasive declines in January. Seven of these 11 early EMU reporters show unemployment rates lower in January 2015 compared to December 2014. Eight show rates net lower over three months. Nine [...]

Personal income rose an expected 0.3% during January (4.6% y/y) following an unrevised 0.3% December increase. The expectations figure is from the Consensus Economics Forecast Survey. Wages & salaries strengthened 0.6% (4.9% y/y) [...]

Chicago purchasing managers indicated that their February Business Barometer Index dropped sharply to 45.8 this month from an unrevised 59.4 in January. Severe winter weather and a West Coast port strike were sited by the Purchasing [...]

Suddenly after outright falls for two straight months, Italy's inflation rate is up by 0.6% in February. The monthly gain is the largest since October 2011. Italy's domestic inflation gauge also reversed to gain 0.3% after two [...]