Economy in Brief

Unemployment rates in the EMU continue to show more progress than has economic growth. The unemployment rate for all of EU steadied at 8.5% for the second month in a row. The EMU rate stayed at its all-time low of 10% for the third [...]

The Composite Index of Nonmanufacturing Sector Business Activity from the Institute for Supply Management (ISM) fell to 54.8 during October from an unrevised 57.1 in September. The decline disappointed expectations for 56.0 in the [...]

Initial unemployment insurance claims rose to 265,000 (-4.7% y/y) during the week ended October 29 following an unrevised decline to 258,000 in the week prior. The four-week moving average of claims rose to 257,750, but remained near [...]

Growth in nonfarm output per hour during Q3'16 improved to 3.1% (0.0% y/y) after a 0.2% Q2 decline, revised from -0.6%. A 1.8% increase had been expected in the Action Economics Forecast Survey. It was the strongest rise in two years. [...]

At today's meeting of the Federal Open Market Committee, the fed funds rate was left unchanged in the range of 0.25%-0.50%, as expected. The meeting minutes continued to focus on price inflation. Overall inflation has remained below [...]

The Mortgage Bankers Association reported that its total Mortgage Market Volume Index declined 1.2% last week (+17.4% y/y) following a 4.1% drop. Refinancing applications declined 1.6% (+23.3% y/y) following a 2.3% shortfall. Purchase [...]

The ADP/Moody's National Employment Report indicated a 147,000 increase (1.9% y/y) in October nonfarm private sector payroll employment following a 202,000 September addition, revised from 154,000. So far this year, payrolls rose an [...]

With the Bank of Japan holding its fire in its recent meeting, Japan's economy continues to give off very muted signals. Annual growth rates for traditional indicators such as retail sales, industrial production, exports and [...]