Economy in Brief

The National Federation of Independent Business reported that its Small Business Optimism Index edged up to 95.7 during July, making up half of its June decline. The latest level remained near its highest since September 2007, just [...]

Income growth expectations, as measured by the Federal Reserve Bank of New York, deteriorated in July. The 2.2% expectation for next year's earnings growth reversed most of June's improvement, although it remained up slightly from the [...]

The OECD's leading economic indicator for June posted a reading of 100.5, the same as it's been for the last eight months. The OECD portrays this as indicating ongoing expansion. However, there clearly is no acceleration in the cards. [...]

Inventories at the wholesale level rose 0.3% last month (7.9% y/y) following a 0.3% May increase, revised from 0.5%. Inventories of durable goods gained 0.7% (8.8% y/y). The rise was led by a 3.2% surge (11.4% y/y) in metal [...]

German activity data have been weakening recently. There is speculation that the sanctions on Russia are an important factor. But trade data for June show some rebound in German trade flows. Exports rose 0.9% in June as imports [...]

Nonfarm productivity increased at a 2.5% annual rate last quarter (1.2% y/y) following a 4.5% Q1 decline, revised from -1.7%. Real output growth of 5.2% (3.2% y/y), rebounding from a 2.4% Q1 drop, was accompanied by a 2.7% increase [...]

The Federal Reserve Board reported that consumer credit outstanding increased $17.3 billion (6.7% y/y) during June following an unrevised $19.6 billion May rise. Expectations were for an $18.0 billion increase, according to the Action [...]

Industrial production in Germany in June rose by 0.3%, only partly restoring May's 1.7% drop. German industrial output is falling over three months and six months. The pace of decline is gathering steam over shorter horizons. All [...]