Economy in Brief

Consumer sentiment, as measured in the Reuters/University of Michigan survey, fell in early-November to a reading of 72.0 (-12.9% y/y). That compares to 73.2 last month and the June high of 85.1. This latest level was the lowest since [...]

The job market posted surprising growth last month. Nonfarm payrolls increased 204,000 (1.7% y/y) during October following upwardly revised gains of 163,000 and 238,000 during the prior two months. A 122,000 gain had been expected [...]

The latest GDP figures can be found in Haver's USECON and USNA databases; USNA contains basically all of the Bureau of Economic Analysis' detail in the national accounts, including the new integrated economics accounts and the [...]

Consumer credit outstanding increased by $13.7 billion during September following a $14.2 billion August rise, revised from $13.6 billion. Expectations had been for a $12.0 billion increase, according to the Action Economics survey. [...]

German orders are rising strongly despite a sharp drop in industrial output in September. As goes capital goods so goes German output. So it is not surprising that a 0.9% drop in output was caused mostly by a 2.1% drop in the output [...]

Initial claims for unemployment insurance fell to 336,000 (-7.4% y/y) during the week ended November 2 from the previous week's 345,000, which was revised up 5,000 from its first report. The Labor Department indicated that the claims [...]

The pace of economic growth picked up last quarter. At 2.8% (AR, 1.6% y/y), Q3 growth in GDP followed a 2.5% advance in Q2. It was the firmest rise in four quarters and beat expectations for 2.0% in the Action Economics Forecast [...]

The Mortgage Bankers Association reported that their total mortgage market index pulled back 7.0% last week (-41.5% y/y) and reversed the prior week's increase. Applications to refinance an existing loan retreated 7.9% and remained [...]