Economy in Brief

The Mortgage Bankers Association reported that their total mortgage market index rose 11.9% last week (-53.8% y/y) but remained near the lowest level since late-2000. Applications to purchase a home rose 11.5% (-8.5% y/y) while [...]

The Federal Reserve Bank of New York indicated that its Empire State Factory Index of General Business Conditions for January rose sharply to 12.51 from a revised December reading of 2.22. The figure was at its highest level since May [...]

Price inflation recovered at the end of last year. The Producer Price Index for finished goods increased 0.4% (1.2% y/y) following unrevised declines of 0.1% and 0.2% during the prior two months. The latest gain matched expectations [...]

European Monetary Union inflation rose by 0.1% in December after rising at the same pace in November. In October inflation fell by 0.2%. Inflation in the euro zone is both subdued and decelerating. This early in the process we don't [...]

Total business inventories increased 0.4% in November (4.0% y/y), the slowest increase in three months. This inventory rise accompanied a 0.8% jump (4.0% y/y) in business sales after October's 0.5% increase. As a result, the [...]

Import prices were unchanged last month (-1.3% y/y) following sharp declines during the prior two months. A 0.3% increase had been expected in the Action Economics survey. For all of last year, import prices fell 1.1%, the first [...]

Manufacturing industrial production in the euro area spurted by 1.9% in November, offsetting two straight months of declines in October and September. Growth rates show acceleration from a 3.2% year-over-year rate to rates of 4.3% [...]

The National Federation of Independent Business reported that its Small Business Optimism Index improved to 93.9 during December and returned to its September level. The latest figure remained down sharply, however, from the May high [...]