Economy in Brief: July 2020

• The foreign trade deficit in goods and services widened further in May. • Both exports and imports fell in May though by much less than in April. • Trade is on course to subtract meaningfully from Q2 GDP. The U.S. trade deficit in [...]

• Rise in jobs is broad-based amongst industries. • Earnings weaken for second straight month. • Unemployment rate, though still double-digit, declines to three-month low. The job market improved again in June. Nonfarm payroll [...]

• Factory orders rebounded in May, rising 8.0% m/m, after meaningful declines in both March and April. • Strong gains in orders for both durable and nondurable goods in May. • Shipments also rebounded in May, but more modestly. U.S. [...]

• The foreign trade deficit in goods and services widened further in May. • Both exports and imports fell in May though by much less than in April. • Trade is on course to subtract meaningfully from Q2 GDP. The U.S. trade deficit in [...]

• State initial jobless claims decreased to a still extremely-elevated 1.427 million in the week ending June 27. • Federal Pandemic Unemployment Assistance new filers at 839,563. • Continuing claims for state programs rise to 19.3 [...]

Unemployment rates rose broadly in May. The EMU unemployment rate ticked higher to 7.4% in May from 7.3% in April. Since 1991, the EMU rate of unemployment rates among the lower 6% of all rates of unemployment for the region. The [...]

• Rise in jobs is broad-based amongst industries. • Earnings weaken for second straight month. • Unemployment rate, though still double-digit, declines to three-month low. The job market improved again in June. Nonfarm payroll [...]

• Car & light truck sales continue to increase m/m, but remain off 23.7% y/y. • Auto sales rise more m/m than trucks. The Autodata Corporation reported that sales of light vehicles rose 8.1% last month (-23.7% y/y) to 13.15 million [...]