Economy in Brief

The market for new homes hit a soft patch during the last two months. New home sales during July fell 2.4% (+12.3% y/y) to 412,000 following June's decline to 422,000, initially reported as 406,000. The figures compare to May's peak [...]

The Chicago Federal Reserve reported that its National Activity Index (CFNAI) for July increased to 0.39 from 0.21 in June, revised from 0.12. The latest level was its highest since March. The three-month moving average improved to [...]

The Federal Reserve has been reducing the growth in monetary liquidity. Three separate indicators suggest that the effort has been pervasive. 1) Money growth has been stable during the last several years and is down from its peak [...]

Canada's retail sales are hopping. Sales rose by 1.1% in June after rising 0.9% in May and 1.3% in April. Sales are accelerating at a 14% annual rate over three months, an 8.6% annual rate over six months, and a 5.9% annual rate over [...]

The Philadelphia Federal Reserve Bank reported that its General Business Conditions Index for August jumped to 28.0 from 23.9 in July. The figure was at the highest point since March 2011 and it exceeded consensus expectations for a [...]

The index of leading economic indicators is beginning to accelerate. The three-month growth rate is 7.4% at an annual rate. Over the previous three months, it grew at a 2.0% annual rate. Over 12 months, it is growing at a 5.9% annual [...]

Sales of existing single-family homes strengthened 2.4% to 5.150 million (AR) during July from 5.030 million in June, last month reported as 5.040 million. Sales were at the highest level since last September, but nevertheless [...]

The flash PMI for the European Monetary Union in August slipped once again to 52.8 from 54.0 in July. The index is back to where was in June. The manufacturing index, which had been stable at 51.9 in June and July, has dropped to 50.8 [...]