Economy in Brief

The Mortgage Bankers Association indicated that their total mortgage market index fell 1.2% last week (-51.8% y/y). Applications remained 63.3% lower than the peak in September 2012. Applications to purchase a home slipped 0.9% [...]

Japan's sector indices continue to turn higher in January. After a setback in December, the January all-industry index for Japan is moving back up. The level in January 2014 is above the level of November 2013, making the January [...]

The U.S. current account deficit decreased in Q4'13 to $81.1 billion from $96.4 billion in Q3. It was the smallest quarterly deficit since Q3 1999. It represented 1.9% of GDP, the least since Q3 1997. The Action Economics Forecast [...]

Energy prices were mixed last week. The price for a gallon of regular gasoline increased to $3.55 (-40% y/y) last week, up 35 cents from the January low. Nevertheless, prices remained below the $3.78 per gallon peak reached in [...]

Housing starts in February slipped 0.2% to 907,000 units (-6.4% y/y) from 909,000 during January, revised up from 880,000. The latest level nearly matched expectations for 910,000 starts in the Action Economics Forecast Survey. Starts [...]

In the wake of off-putting geopolitical news in Crimea, the ZEW German expectations index for March fell sharply to 46.6 from 55.7. Its current component continued to advance but did so very slowly. The current index moved up to 51.3 [...]

Consumer prices edged 0.1% higher (1.1% y/y) during February following a like January rise. The increase matched consensus expectations in the Action Economics Forecast Survey. Consumer prices excluding food and energy also gained [...]

Following a record 10 point decline under heavy snowfall, the Composite Housing Market Index from the National Association of Home Builders-Wells Fargo edged up 1 point this month to 47. The index now stands 6.8% above March of 2013. [...]