Economy in Brief

The Mortgage Bankers Association reported that its total Mortgage Applications Volume Index fell 3.4% (-15.5% y/y) in the week ended May 26, after a 4.4% rise during the prior week. Refinancing applications declined 5.6% (-31.4% y/y) [...]

Regular gasoline prices nudged higher to $2.41 per gallon last week (2.9% y/y), the highest level in four weeks. Prices remained down five cents from late April's high and lower than the 2014 high of $3.71 per gallon. Haver Analytics [...]

The lowest unemployment rate in eight years is an accomplishment for the EMU. But of the 11 original members whose data are arrayed in the top of the table, only five have unemployment rates below their respective medians since 1991. [...]

The National Association of Realtors (NAR) reported that pending home sales fell 1.3% during April (-3.3% y/y) to an index level of 109.8 following a 0.9% March slip. The index is reported on a 2001=100 basis. Pending sales figure [...]

The Chicago Purchasing Managers Business Barometer for May rose to 59.4 following an increase to 58.3 in April. It was the highest index level since November 2014. The latest reading surpassed expectations for 57.5 in the Action [...]

The National Association of Realtors (NAR) reported that pending home sales fell 1.3% during April (-3.3% y/y) to an index level of 109.8 following a 0.9% March slip. The index is reported on a 2001=100 basis. Pending sales figure [...]

The Federal Reserve Bank of Dallas indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index of 17.2 in May remained fairly steady with the prior two months, nearing the highest level of the economic [...]

The Conference Board Consumer Confidence Index fell 1.3% during May (+27.6% y/y) to 117.9, following a little-revised 4.4% April decline to 119.4. The index was at its lowest level in three months. The Action Economics Forecast Survey [...]