Economy in Brief: 2015

French household confidence moved higher to 92 in February from 90 in January, a nice two-point rise. At 92, French confidence was last at that level in May 2012 and last higher (for one brief reading) in November 2010. Confidence was [...]

The Mortgage Bankers Association reported that their total Mortgage Market Volume Index declined 3.5% last week (+20.6% y/y). It was the the fourth decline in the last five weeks, totaling 25.2%. Refinance applications fell 7.5% [...]

The Philadelphia Federal Reserve reported that its Index of Nonmanufacturing Sector Activity gained to 46.9 this month from 8.8 in January. Its improvement versus last February, when the region was socked in by heavy snowfall, is not [...]

The Conference Board's consumer confidence index deteriorated to 96.4 this month from 103.8 during January, revised from 102.9 (1985=100). Nevertheless, it was the highest level since September 2007. The latest figure remained up by [...]

HICP inflation has finalized for the EMU and prices fell by 0.6% over the last 12 months on balance, a significant short fall from a target rate of `just under 2%.' Note that a comparable miss on the upside would have inflation at [...]

It's costing more to drive automobiles and heat homes of late. Gasoline prices continued upward by 6 cents last week to $2.33 per gallon (-32.3% y/y) following the prior week's 7 cent increase. Prices have risen 29 cents (14.1%) since [...]

The Federal Reserve Bank of Dallas reported that its February Composite index of factory sector activity remained negative at -11.2 following -4.4 in January. It was the first time that two months were successively negative in two [...]

Sales of existing homes fell 4.9% (+3.2% y/y) during January to 4.820 million (AR), following an unrevised 2.4% rise in December. Home sales were at the lowest point since April and disappointed consensus expectations for 5.00 million [...]