Economy in Brief

Housing starts during January declined 3.8% (+1.8% y/y) to 1.099 million (AR) from 1.143 million, revised from 1.149 million. The shortfall followed a 2.8% drop in December. The latest figure disappointed expectations for 1.17 million [...]

The headline Final Demand Producer Price Index edged up 0.1% m/m (-0.2% y/y) in January. While this was a modest increase, it was 0.3%-pt above the Action Economics Forecast Survey expectation for a 0.2% m/m decline (this is a [...]

The ZEW index was in denial last month but the German IFO sector report showed some clear-cut weakness. This month the ZEW is giving way with a drop in the current index to 52.3 from 59.7 last month. Expectations have plunged all the [...]

The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo declined 4.9% to 58, the lowest level in nine months. January's level of 61 was revised up slightly. The NAHB figures are seasonally [...]

The Empire State Factory Index of General Business Conditions continues to indicate declines in manufacturing sector activity. The New York index nudged up to -16.64 during February, but remained near the lowest level since April [...]

The consumer reaped the benefit from lower gasoline prices last month and ramped up spending elsewhere. Retail sales gained 0.2% during January (3.4% y/y) following a 0.2% December rise, revised from -0.1%. A 0.1% uptick had been [...]

Import prices declined 1.1% during January (-6.2% y/y), the same as in December, revised from -1.2%. A 1.5% decline had been expected in the Action Economics Forecast Survey. Petroleum prices fell 13.4% (-35.3% y/y) following a 9.2% [...]

Total business inventories edged up 0.1% m/m (1.7% y/y) in December, following a 0.1% m/m decline in both November and October. Total business sales fell 0.6% m/m (-2.7% y/y) in December for their third consecutive monthly decline. [...]