Economy in Brief

The Bureau of Labor Statistics reported in its Job Openings & Labor Turnover Survey (JOLTS) that the November job openings rate held m/m at 2.8%. That nevertheless was up from 2.7% twelve months earlier The job openings rate is the [...]

Industrial production turned in a 2.6% increase in 2013, the slowest gain of the economic recovery. During December the expansion continued as output gained 0.3% (3.7% y/y) following a little-revised November increase of 1.1%. Growth [...]

UK retail volumes had been strong all year long but in December sales really jumped. Retail sales rose by 2.6% in December alone. That offset two weak months and propelled sales up over three-months at a 7% annual rate. Sales have [...]

It was a good year for new home builders in 2013. Housing starts of 928,000 were up 18.4% versus 2012 following that year's 28.0% rise. It was the highest level of starts since 2007. During December, however, starts backpedaled 9.8% [...]

Auto registrations in Europe rose smartly in December. EU auto sales rose by 5.2% after falling 8% in November and rising 8.3% in October. However, through all that the volatility is clear net gains in auto sales and registrations. [...]

The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo slipped a point to 56 this month but the figure remained near the expansion high. The December figure was revised to 57 from 58 and the [...]

The Philadelphia Federal Reserve Bank reported that its General Business Conditions Index for January rose slightly to 9.4 from 6.4 in December. Nevertheless, it remained down sharply from the September high. The latest figure roughly [...]

Initial claims for unemployment insurance slipped to 326,000 during the week ended January 11 from 328,000 in the prior week, revised from 330,000. It was the lowest level since late-November. Expectations had been for 328,000 claims [...]