Economy in Brief

Euro area exports rose in May by 0.6% as imports lagged slightly, rising by only 0.5%. As a result, the trade balance in the euro area saw a slightly larger surplus in May at ?15.29 billion. Exports are not strong across the board. [...]

The Mortgage Bankers Association reported that their total Mortgage Market Volume Index declined 3.6% last week (-34.3% y/y) to the lowest level since late-April. Applications remained two-thirds below the peak in September 2012. Home [...]

The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo improved to 53 this month from an unrevised from 49 in June. The latest figure was the highest since January and beat expectations in the [...]

Industrial output in the U.S. increased 0.2% during June following a 0.5% May rise, revised from 0.6%. A 0.3% gain in total production was expected in the Action Economics Forecast Survey. Production in the factory sector rose 0.6% [...]

The overall final demand Producer Price Index recovered 0.4% (1.9% y/y) during June following an unrevised 0.2% May decline. Consensus expectations were for a 0.2% gain in the Action Economics Forecast Survey. Prices excluding food & [...]

Total business inventories increased 0.5% in May (5.6% y/y) after an unrevised 0.6% advance during April. The stronger y/y rise contrasted with the 3.0% gain last summer. Inventories in the factory sector rose 0.8% (3.8%). Wholesale [...]

Import prices nudged up 0.1% during June (1.2% y/y) following a 0.3% May rise, last month reported as 0.1%. A 0.3% increase had been expected in the Action Economics Forecast Survey. A 1.4% rise (6.4% y/y) in petroleum prices provided [...]

The Empire State Factory Index of General Business Conditions jumped during July to 25.60 from 19.28 in June. The Federal Reserve Bank of New York reported that it was the highest level since April 2010 and beat expectations for a [...]