Economy in Brief

The current account deficit was $113.3 billion in Q1, following $103.1 billion in Q4 2014 and compares to $96.4 billion in Q1 a year ago. All these data are affected by annual revisions, and all are seasonally adjusted. The widening [...]

The Index of Leading Economic Indicators from the Conference Board posted a 0.7% rise in May (5.7% y/y), the same as during April which was unrevised. A 0.4% increase had been expected in the Action Economics Forecast Survey. The [...]

The labor market remains on solid ground. Initial unemployment insurance claims declined to 267,000 (-14.3% y/y) during the week of June 13 compared to an unrevised 279,000 during the prior week. The four week moving average fell to [...]

The consumer price index jumped 0.4% during May (-0.0% y/y) following an unrevised 0.1% increase. It was the strongest rise since January 2013. Expectations had been for a 0.5% increase in the Action Economics Forecast Survey. Prices [...]

U.K. retail sales rose by 0.2% in May, bucking expectations that sales would drop. Sales are now up for two months in a row for the first time since November of last year. U.K. retail sales offer up no clear pattern of acceleration or [...]

At today's meeting of the Federal Open Market Committee, the Fed indicated that improved job gains are supporting growth in consumer spending while business investment and net exports remained soft. Moderate growth in the economy was [...]

EMU inflation has a year-over-year gain for the first time in six months. With the effect of falling oil out of the way, inflation is again headed higher. But what will that mean for the euro area? One thing history and the financial [...]

The Mortgage Bankers Association reported that its total Mortgage Market Volume Index backpedaled 5.5% last week (+7.7% y/y) and remained one-third below the January peak. Purchase applications decreased 4.2% (+15.0% y/y). [...]