Economy in Brief: 2020

• New single-family home sales tick down in October, but were up 41.5% y/y. • Sales mixed regionally, but generally move modestly after sizable monthly swings earlier in the year. New single-family home sales around the country [...]

• Decline in income reflects fewer government transfer payments. • Spending strength reflects higher services outlays. • Prices remain steady. Personal income declined 0.7% during October (+5.5% y/y) following a 0.7% September rise, [...]

• Q3 GDP jumps at an unrevised 33.1% annual rate in second estimate. • Component revisions were relatively small and offsetting. • Q3 after-tax corporate profits rebounds 36.6% non-annualized; above 2019Q4 peak. • Key price measures [...]

• State initial claims climbed another 30,000 in Nov 21 week. • Continuing claims decreased for state but both PUA and PEUC increase. • Insured unemployment rate continues downtrend. Initial claims for regular state unemployment [...]

• Orders again surprise to upside in October with upward revision to September. • Sixth consecutive monthly increase in orders. • Shipments jumped; inventories rose; order backlogs eased. Manufacturers' orders for durable goods [...]

• Export growth eases while import gain accelerates. The advance estimate of the U.S. trade deficit in goods deepened to $80.29 billion during October from September's $79.36 billion, revised from $80.7 billion. The Action Economics [...]

• Mortgage applications rebound following two weeks of decline. • Applications for both purchase and refinancing post marked increases. • Fixed mortgage rates fall to new all-time lows. The Mortgage Bankers Association Mortgage Loan [...]

With a third wave of infection coursing its way through Japan's economy, the labor market continues to make some progress. Japan's infections peaked in April, August, and now, again, in November. The new case count has soared to an [...]