Economy in Brief

Economic growth slowed less than previously estimated last quarter. Gross domestic product grew at a 1.0% annual rate (1.9% y/y), up from the advance estimate of a 0.7% gain. Nevertheless, growth was half that in Q3 and down sharply [...]

Germany's GfK consumer climate look-ahead gauge for March shows an unexpected increase of one tick to 9.5 from February's 9.4. In February, the gauge was flat with its economic component lower, income expectations strongly higher and [...]

Initial unemployment insurance claims rebounded to 272,000 during the week ended February 20 following an unrevised decline during the prior week. The four-week moving average eased to 272,000, and remained near a two-month low. [...]

The U.S. House Price Index from the Federal Housing Finance Agency (FHFA) increased 0.4% during December following a 0.6% November gain, revised from 0.5%. For all of 2015, prices increased a steady 5.7%. During the last three months, [...]

Factory sector activity is gaining strength. New orders for durable goods recovered 4.9% during January (1.8% y/y) following a 4.6% December decline, revised from -5.1%. A 2.4% increase had been expected in the Action Economics [...]

Sales of new single-family homes declined 9.2% during January (-5.2% y/y) to 494,000 (SAAR) and reversed December's 8.2% increase to an unrevised 544,000. December sales were biased by new closing procedures which shifted sales out of [...]

The INSEE household confidence indicator for France fell to 95 in February from 97 in January. The index was last lower six months ago. The index had recouped a lot of its losses by May 2015. The current set back takes it to the [...]

The Mortgage Bankers Association reported that its total Mortgage Market Volume Index declined 4.3% last week (+23.8% y/y) following two weeks of strong increase. So far this month, applications have risen 24.9% from January. Purchase [...]