Economy in Brief

Initial claims for unemployment insurance dropped to 320,000 (-12.8% y/y) in the August 10 week from 335,000 the week before, which was initially reported as 333,000. This latest figure is the lowest since October 6, 2007. It compares [...]

Industrial production remained unchanged (1.3% y/y) during July following a 0.2% June increase, initially reported as 0.4%. A 0.3% rise had been expected in the Action Economics survey. Factory sector production slipped 0.1% (+1.3% [...]

UK economy continues to outperform statistics from the European Monetary Union. In in July the reason may be global warming. But I think the authorities in the UK will take improvement whichever way it comes. The heat wave in the UK [...]

Price inflation showed signs of moderating last month. The July consumer price index increased an expected 0.2% (2.0% y/y) following its 0.5% jump during June. Prices excluding food and energy also gained 0.2% (1.7% y/y) for the third [...]

Higher interest rates continue to take their toll on the mortgage market. The Mortgage Bankers Association reported that the total mortgage market index fell 4.7% (-46.8% y/y) last week. Home purchase mortgage applications declined [...]

Well, it's a semi-official conclusion, if preliminary, but it nonetheless seems to be true that recession in the European Monetary Union is over. The GDP release is only at its 'flash value' which gives us the preliminary headline [...]

Upward pressure on wholesale prices eased last month. The producer price index for finished goods was unchanged during July (2.1% y/y) following an unrevised 0.8% June increase. The figure fell short of consensus expectations for a [...]

Total business inventories were unchanged versus May (3.5% y/y) following that month's 0.1% downtick, last month reported as a 0.1% uptick. The figure was accompanied by a 0.2% rise (4.9% y/y) in business sales. As a result, the [...]