Economy in Brief

The German economy is often viewed as the strong man of Europe. But in September, the strong man needed some help picking himself up. Overall German industrial orders rose by 0.8% in September. Orders advanced on the strength of the [...]

The outplacement firm of Challenger, Gray & Christmas reported that job cut announcements rebounded to 51,183 (11.9% y/y) during October. Layoffs rose m/m in the computer, electronics, pharmaceutical, retail, financial, food, [...]

Nonfarm productivity increased at a 2.0% annual rate last quarter (0.9% y/y) following a 2.9% Q2 gain, revised from 2.5%. Real output increased at a 4.4% rate (3.0% y/y) while hours worked gained 2.3% (2.1% y/y). Compensation per hour [...]

Initial claims for jobless insurance during the week ended November 1st fell to 278,000 (-18.5% y/y) from 288,000, revised from 287,000. The Action Economics Forecast Survey expected 285,000 claims in the latest week. The four-week [...]

The Mortgage Bankers Association reported that their total Mortgage Market Volume Index fell 2.6% last week (-20.0% y/y), the second week of decline. Applications to refinance an existing loan fell 5.5% (-23.7% y/y) following the [...]

Nonmanufacturing activity eased for a second straight month in October. The Institute for Supply Management's (ISM) composite nonmanufacturing index declined to 57.1 from 58.6 in September. It was the lowest level since June. This [...]

The finalized PMI reading for the EMU private sector in October is at 52.1, marginally lower than the flash reading of 52.2 but slightly higher than September's 52.0. The October result still represents a flat-to-weakening profile [...]

The ADP/Moody's National Employment Report indicated that hiring continued last month at a moderate rate. Private sector employment grew 230,000 during October following a 225,000 September increase, revised from 213,000. The y/y [...]