Economy in Brief

As we peruse the incoming data, we see new inflation reporters and a new EMU index for industrial production. EMU-wide inflation is still falling and negative year over year. While industrial output is still on a big broad decline, [...]

Overall retail sales including food services declined 0.9% (+3.2% y/y) during December following a 0.4% November increase, revised from 0.7%. No change in sales had been expected in the Action Economics Forecast Survey. Sales [...]

The Federal Government reported a $1.9 billion budget surplus during December compared to a $53.2 billion surplus during December of 2014. For the first three months of Fiscal Year 2015, the deficit of $176.7 billion compares to a [...]

The job openings rate during November increased to 3.4% and matched the highest level since April 2001. The job openings rate is the number of job openings on the last business day of the month as a percent of total employment plus [...]

The euro area seemed to show some signs of improved life in November. Italy, reporting its IP later than most EMU members, has joined the party. Still, Italian production trends remain weak. The chart shows year-over-year trends for [...]

The National Federation of Independent Business reported that its Small Business Optimism Index for December jumped to 100.4 following an unrevised gain to 98.1 during November. The latest level was the highest since October 2006. For [...]

Petroleum prices can't find support. Average gasoline prices declined 7 cents in the week ended January 12 to $2.14 per gallon. Prices have fallen more than one-third during the last year and by nearly one-half since their June high [...]

The main message from the OECD LEIs in November is that not much is changing. The indicators for the OECD region, the U.S., the U.K., the EMU and China are little-changed and clustered around the neutral reading of 100. Japan and [...]