Economy in Brief: June 2020

• • PREVIOUS>>>>>Productivity in the nonfarm business sector during Q1'20 fell 2.5% (SAAR) ......... The productivity & cost figures are available in Haver's USECON database. Productivity & Costs (SAAR, %) Q1'20 Q4'19 Q3'19 Q1 Y/Y [...]

• Initial jobless claims decreased to a still extremely-elevated 1.877 million in the week ending May 30. • Federal Pandemic Unemployment Assistance new filers declined to 623,073. • Continuing claim for state programs increased to [...]

• The foreign trade deficit in goods & services added to its March deterioration. • Exports declined sharply as recessions abroad continued. • Imports fell precipitously with lower oil prices & developing U.S. recession. The U.S. [...]

Euro area retail sales fell sharply again, dropping by 11.7% in April after a 11.1% decline in March. However, as May ended, European countries were in various stages of reopening their economies after battening down the hatches to [...]

• Output per hour revised up on weaker hours worked. • Unit labor costs revised up on higher compensation. Productivity in the nonfarm business sector during Q1'20 was revised up to a 0.9% q/q (SAAR) decline from the initially [...]

• Initial jobless claims decreased to a still extremely-elevated 1.877 million in the week ending May 30. • Federal Pandemic Unemployment Assistance new filers declined to 623,073. • Continuing claim for state programs increased to [...]

• • • Mirroring the weakness reported last month for durable goods orders and industrial production, each component of factory sector activity declined in March. Factory orders dropped 10.3% (-11.4% y/y) during March.... The factory [...]

• Mortgage applications decreased 3.9% in week ending May 29. • Refinancing applications dropped 8.6%, the seventh consecutive weekly decline. The Mortgage Bankers Association reported that its total Mortgage Applications Index [...]