Economy in Brief

The index of Leading Economic Indicators, published by the Conference Board, increased 0.6% last month (3.1% y/y). The gain was the strongest since April and followed an unrevised no-change during June. A 0.5% rise had been expected [...]

Home price appreciation continues to build momentum. The U.S. House Price Index from the Federal Housing and Finance Agency (FHFA) rose 0.7% during June after a slightly revised 0.8% May increase. A 0.6% gain had been expected in the [...]

Initial unemployment insurance claims rebounded to 336,000 (-10.2% y/y) in the week ended August 17 from 323,000 during the week prior, initially reported as 320,000. The figure remained nearly the lowest since October 2007. It [...]

Despite some lingering skepticism, the UK economy continues to register strong readings and in some cases fabulously strong readings. The Confederation of British industry, or (CBI), survey shows exceptional order strength in August. [...]

Mortgage market activity continues to ease. The Mortgage Bankers Association reported that the total mortgage market index fell 4.6% (-45.2% y/y) last week. Applications to refinance an existing loan declined 7.7% (-57.1% y/y) and [...]

Last month was a busy one for home sellers. Sales of existing homes jumped 6.5% during July (17.2% y/y) to 5.390 mil. units (AR), according to the National Association of Realtors. The June figure was revised down slightly to 5.390. [...]

Consumers have backed away from their earlier spending enthusiasm. The International Council of Shopping Centers and Goldman Sachs reported that chain store sales fell 1.9% last week (+2.2% y/y). So far this month sales have fallen [...]

The price for a gallon of regular gasoline slipped one penny last week to $3.55 last week (-5.2% y/y). Prices remained down from the $3.78 per gallon peak reached late in February. Haver Analytics constructs seasonal factors to [...]