Economy in Brief: 2017

The National Federation of Independent Business reported that its Small Business Optimism Index surged 7.5% during December (11.1% y/y) to 105.8. It was the strongest level of optimism since December 2004. During all of last year, the [...]

Consumer credit outstanding increased $24.5 billion during November (6.7% y/y) following a $16.2 billion October rise, revised from $16.0 billion. An $18.2 billion increase had been expected in the Action Economics Forecast Survey. [...]

In the euro area, unemployment which was flat month-on-month in November is nonetheless moving lower on trend as the inflation rate has spiked up, boosted by oil. This combination of motions is surely going to put pressure on the ECB [...]

The Labor Market Conditions Index (LMCI) from the Federal Reserve Board includes 19 indicators of labor market activity, covering the broad categories of unemployment and underemployment. These include jobs, workweeks, wages, [...]

Manufacturing sector orders declined 2.4% during November (+1.2 % y/y) following October's 2.8% surge. Durable goods bookings declined 4.5% (-0.2% y/y), revised from the advance estimate of a 4.6% fall. Transportation orders declined [...]

Nonfarm payroll employment increased 156,000 during December (1.4% y/y) following a 204,000 November increase and a 135,000 October rise. Revisions added 19,000 jobs to these two latter results combined. A 175,000 increase in December [...]

The U.S. trade deficit in goods and services increased further in November to $45.2 billion from $42.4 billion in October, revised slightly from $42.6 billion; the deficit was $36.2 billion in September. The Action Economics Forecast [...]

German orders fell sharply in November but only after an even larger gain in October, one that in percentage terms was twice the size of the November drop. On balance, orders still carry upward momentum from their October spurt. [...]