Economy in Brief

The Philadelphia Federal Reserve reported that its Index of Nonmanufacturing Sector Activity gained to 46.9 this month from 8.8 in January. Its improvement versus last February, when the region was socked in by heavy snowfall, is not [...]

The Conference Board's consumer confidence index deteriorated to 96.4 this month from 103.8 during January, revised from 102.9 (1985=100). Nevertheless, it was the highest level since September 2007. The latest figure remained up by [...]

HICP inflation has finalized for the EMU and prices fell by 0.6% over the last 12 months on balance, a significant short fall from a target rate of `just under 2%.' Note that a comparable miss on the upside would have inflation at [...]

It's costing more to drive automobiles and heat homes of late. Gasoline prices continued upward by 6 cents last week to $2.33 per gallon (-32.3% y/y) following the prior week's 7 cent increase. Prices have risen 29 cents (14.1%) since [...]

The Federal Reserve Bank of Dallas reported that its February Composite index of factory sector activity remained negative at -11.2 following -4.4 in January. It was the first time that two months were successively negative in two [...]

Sales of existing homes fell 4.9% (+3.2% y/y) during January to 4.820 million (AR), following an unrevised 2.4% rise in December. Home sales were at the lowest point since April and disappointed consensus expectations for 5.00 million [...]

The Markit flash PMI data showed some strength in the EMU but less of it is in France and Germany with the services sector leading the way in both nations. The German Ifo shows much the same situation, agreeing with Markit, with [...]

The Chicago Federal Reserve reported that its National Activity Index (CFNAI) for January increased to 0.13 from a little-revised -0.07 in January. The three-month moving average remained fairly stable at a high 0.33. During the last [...]