Economy in Brief

Weakness is a problem for the European Monetary Union and it has been a problem of increasing magnitude - if not worry- over the course of 2014. But a bigger problem for EMU is divergence. In 2013 the divergence among EMU member [...]

The ISM Report on Business Manufacturing Index decreased 3.2 points in December to 55.5 from November's 58.7, indicating somewhat slower but still expanding activity in the manufacturing sector. Expectations in the Action Economics [...]

Pending sales of single-family homes rose 0.8% in November (+4.1% y/y) following a slightly revised 1.2% decrease in October, according to the National Association of Realtors (NAR). These sales are reported as an index with 2001 = [...]

Initial unemployment insurance claims during the week ended December 27 rose to 298,000 (-13.4% y/y) after declining to 281,000 in the prior week, revised marginally from 280,000. The four-week moving average of initial claims thus [...]

With the European Monetary Union grappling with inflation and unsure what to do next, in some countries, the decision seems clearer than in others. Unfortunately, EMU monetary policy is one for all and all for one. In the chart, we [...]

The Conference Board's consumer confidence index turned back upward to 92.6 in December from November's 91.0, which was revised noticeably from 88.7 initially reported; the December index is 19.5% above December 2013. The latest [...]

National average gasoline prices fell 10 cents more in the week ended December 29 to $2.30 a gallon from $2.40 the prior week; they are down 31.0% year-on-year. Haver Analytics constructs factors adjusting for the seasonal variation [...]

The Mortgage Bankers Association reported that their total Mortgage Market Volume Index edged up 0.9% last week (3.4% y/y) following a 3.3% decline during the prior week. Applications to purchase a home gained 1.3% (-0.5% y/y) as [...]