Economy in Brief

The latest data show the OECD LEIs are truly flat. Most OECD country-level or area LEIs still hover below the neutral position of 100 (with the EMU being the exception). The U.K. and China LEIs, while still below 100, each saw small [...]

Inventories at the wholesale level notched 0.1% higher (-0.1% y/y) during September following a 0.1% August slip, revised from -0.2%. The advance report had indicated a 0.2% September rise. Inventories of durable goods declined 0.4% [...]

The Mortgage Bankers Association reported that its total Mortgage Market Volume Index declined 1.2% last week (+17.6% y/y), the same as during the prior week. Refinancing applications fell 2.7% (+22.7% y/y) following a 1.6% shortfall. [...]

Prices in the energy sector remained under pressure last week. Natural gas prices declined to $2.43 per mmbtu last week, prices have fallen from $3.15 just three weeks ago, and equaled the lowest level since early June. They remained [...]

The labor market improved further during September. The total job openings rate increased to 3.7% from an unrevised to 3.6% in August. It remained down. however, from the record high of 3.9% in July. The private sector job openings [...]

The National Federation of Independent Business reported that its Small Business Optimism Index increased 0.9% during October to 94.9 following two months of slight decline. Optimism remained down 5.4% versus its peak in December [...]

To and fro with output gains and losses The nearly 2% step back in German output in September follows an even stronger gain of 3% in August. But that has followed a sizeable drop in July and the see-saw patterned extends farther back. [...]

Consumer credit outstanding increased $19.3 billion (6.5% y/y) during September following a $26.8 billion August rise, revised from $25.9 billion. An $18.0 billion increase had been expected in the Action Economics Forecast Survey. [...]