Economy in Brief: September 2020

• Crude oil prices decline to lowest level since June. • Gasoline prices edge down. The price for a barrel of West Texas Intermediate crude oil fell to an average of $37.39 per barrel (-33.4% y/y) in the week ended September 11. It [...]

• Lumber & metals prices continue to strengthen. • Petroleum prices falter. The recent improvement in factory sector activity continues to support industrial materials prices. The Industrial Materials Price Index from the Foundation [...]

There are at least two stories on how to look at the evolution of IP in the EMU. One is to note the sharp ongoing rebound that is clearly depicted in the table as well as in the chart. The other is to note how, despite this recent [...]

• Monthly budget gap increases deficit to $3.007 trillion so far in FY'20. • Receipts decline moderately while outlays surge. The U.S. Treasury Department reported that since the start of the fiscal year, which began in October, the [...]

• Higher home prices offset decline in mortgage interest rate. The National Association of Realtors reported that its Fixed Rate Mortgage Housing Affordability Index declined 0.5% to 163.3 in July (+5.2% y/y), the third consecutive [...]

Inflation is remaining low globally in the wake of the coronavirus-induced recession. The one exception is that oil prices have flared but now they also are turning lower as the initial recovery spurt in growth is giving way to more [...]

• Core goods prices surge. • Services prices moderate. • Energy prices jump. Retail pricing power continued to improve last month. The Consumer Price Index increased 0.4% (1.3% y/y) during August following a 0.6% rise in July. The [...]

Europe's September 10 Covid-19 update has France and Italy both 'in the Mix': 4,006,374 cases; the five countries reporting most cases are Russia (1,035,789), Spain (543,379), United Kingdom (355,219), France (344,101) and Italy [...]