Economy in Brief

The Ifo index for Germany has turned sharply lower as the expectation index has weakened abruptly in February. All sector indicator weakened except for construction where spending on housing for migrants may be a stimulating factor. [...]

The $1.73 average pump price (-25.8% y/y) for a gallon of regular gasoline last week was little changed from $1.72 in the prior week, according to the U.S. Department of Energy. The price compares to a 2014 high of $3.71 per gallon. [...]

The Markit private sector readings for manufacturing and services backed off in the EMU as well as in Germany and France in February. EMU-wide both manufacturing and services weakened. Both sectors weakened in Germany. France's [...]

The Chicago Federal Reserve reported that its National Activity Index (CFNAI) during January rose to 0.28 from -0.34 in December, revised from -0.22. It was the first positive figure in six months. The 3-month moving average improved [...]

Germany's PPI (excluding construction) fell by 0.8% in January. It fell by 1.1% in manufacturing and by 0.2% in manufacturing excluding energy. Overall manufacturing and ex-energy manufacturing inflation all are falling over three [...]

The Consumer Price Index held steady during January (1.4% y/y) following an unrevised 0.1% dip during December. A 0.1% easing had been expected in the Action Economics Forecast Survey. The CPI excluding food & energy increased 0.3% [...]

The Philadelphia Federal Reserve reported that its General Factory Sector Business Conditions Index for February remained negative at -2.8 versus -3.5 in January. It was the sixth consecutive reading below zero, although losses have [...]

The price level in the euro area dropped again in January as core prices ticked higher. But even core inflation is only at 1% and has virtually no momentum. Headline inflation, the only inflation rate truly `targeted' by the ECB, is [...]