Economy in Brief

The Mortgage Bankers Association reported that its total Mortgage Market Volume Index declined 4.6% last week (+21.8% y/y), the third decline in four weeks. Refinance applications fell 8.3% (+30.8% y/y) to the lowest level in four [...]

Nonfarm productivity fell at a 1.9% annual rate last quarter (+0.6% y/y), about the same as during a little-revised Q4. Harsh winter weather and the strike at West coast ports constrained real output. It slipped at a 0.2% rate (+3.5% [...]

The services sector has been carrying the European recovery, but that sector backed off with its PMI index edging lower to 54.1 in April from 54.2 in March. Still, the services PMI has a queue standing in the 76.2 percentile, much [...]

The ADP/Moody's National Employment Report indicated that nonfarm private sector payrolls increased 169,000 during April following a 175,000 March gain, revised from 189,000. The latest rise was the weakest since January of last year [...]

The ADP/Moody's National Employment Report reported that nonfarm private sector payrolls increased 189,000 during March following a 214,000 improvement in February, revised from 212,000. The latest gain was the weakest since January [...]

Gasoline prices increased 9 cents last week to an average $2.66 per gallon at the pump, the highest level since early-December and up nearly one-third versus the late-January low of $2.04. Haver Analytics constructs factors adjusting [...]

The Institute for Supply Management (ISM) Composite Index of Nonmanufacturing Sector Business improved to 57.8 during April from an unrevised 56.5 in March. The latest figure was the highest since November and exceeded expectations [...]

The U.S. foreign trade deficit in goods and services increased during March to $51.4 billion from $35.9 billion in February, revised from $35.4 billion. A deficit of $41.0 billion had been expected in the Action Economics Forecast [...]