Economy in Brief

Deflation and monetary policy All eyes have been on the ECB and its next move which it executed just yesterday. The ECB rate cut was modest and the step up in asset purchases was a bit more. Broadening its programs and the asset [...]

Import prices declined 0.3% during February (-6.1% y/y) following a 1.0% January decline, revised from -1.1%. A 0.8% decline had been expected in the Action Economics Forecast Survey. Petroleum import prices fell 4.0% (-38.5% y/y) [...]

The U.S. Treasury Department reported a $192.6 billion budget deficit during February versus a $192.4 billion deficit twelve months earlier. A $205.5 billion deficit had been expected in the Action Economics Forecast Survey. During [...]

Total borrowing in the U.S. rebounded in Q4 to $4,014 billion at a seasonally adjusted annual rate, according to the Financial Accounts of the U.S., which were released today by the Federal Reserve Board. The large total was mainly [...]

Despite the overwhelming competitiveness of the German economy inside the euro area and despite the very weak euro, itself which makes all of the euro area countries very competitive in their trade outside the zone, German exports [...]

Initial unemployment insurance claims declined to 259,000 during the week ended March 5 from 277,000 in the prior week, revised from 278,000. It was the lowest level of initial claims since early October. Expectations were for 272,000 [...]

Inventories at the wholesale level increased 0.3% (2.0% y/y) following little change in December, revised from -0.1%. The increase reflected a 1.1% rise in the nondurable goods sector despite a 1.6% shortfall (-11.2% y/y) in petroleum [...]

The Bank of France business indicator took a sharp turn south in February as it dived back below its October 2015 level but above its November 2015 level. Upon seeing its survey results, the Bank of France cut its Q1 GDP outlook to a [...]