Economy in Brief

Japan's yen-based current account deficit eroded again in May as exports rose by 3.2% as imports rose faster by 4.7%. Over three months Japanese exports and imports are both growing at a hefty pace over 30% with imports growing [...]

The Mortgage Bankers Association indicated that total applications for a home mortgage fell 3.3% w/w from last week, following a 5.0% rise during the prior week. The latest level was down by nearly one-third since early-May. Last [...]

The Mortgage Bankers Association indicated that total applications for a home mortgage fell 3.3% w/w following a 5.0% rise during the prior week. The latest level was down by nearly one-third since early-May. Last week's decline [...]

The Zew economic index for Germany saw its expectations component rise slightly to 38.5 from 36.4 in June. This is the second rise in a row for the expectations component, however, it is still substantially below the levels of 48.5 [...]

The price of regular gasoline retreated last week to $3.63 per gallon but remained up 2.6% versus last year. Prices remain below the $3.78 per gallon peak reached late in February. Haver Analytics constructs seasonal factors to [...]

Consumer spending this month seems to be on a weak footing. The International Council of Shopping Centers and Goldman Sachs reported that chain store sales inched up 0.3% last week (2.5% y/y). During the week earlier, however, sales [...]

The cost of living remains under control. The consumer price index edged up a minimal 0.1% in May (1.4% y/y), the first positive change in three months. Expectations were for a 0.2% increase. Prices excluding food and energy gained [...]

Housing starts recovered last month following a sharp April decline. There has been no growth, however, during the last several months. Total housing starts increased 6.8% (28.6% y/y) during May to 914,000 (AR) from 856,000 in April, [...]