Economy in Brief

Automobile registrations are improving their rising trend for the European Union in April despite s small set back in the month. They are off by1.4% after a sharp gain of 7.2% in March. Over three months EU registrations are up at an [...]

The index of Leading Economic Indicators, published by the Conference Board, jumped 0.6% (2.3% y/y) during April to 95.0, a new high for the economic recovery. A 0.2% rise had been expected. The latest increase followed a revised 0.2% [...]

Consumers are feeling much better about economic conditions. The University of Michigan's Index of Consumer Sentiment for mid-May jumped 9.6% (5.5% y/y) to 83.7, the highest level since July 2007. It compared to the consensus forecast [...]

The Philadelphia Federal Reserve Bank reported that its General Business Conditions Index fell to -5.2. That followed an unrevised 1.3 in April. Haver Analytics constructs a seasonally adjusted figure comparable to the ISM index and [...]

The earlier decline in initial claims for unemployment insurance reversed course last week. They rose to 360,000 (-3.5% y/y) during the week ended May 11 from a revised 328,000 during the prior week, initially reported as 323,000. [...]

New building activity backpedaled last month following its earlier strength. Total housing starts dropped 16.5% to 853,000 (AR) last month from 1.021M in March, initially reported as 1.036M. Expectations had been for 970,000 starts in [...]

Price inflation remains under control. The consumer price index fell 0.4% (+1.1% y/y) during April, doubling its unrevised March shortfall. Expectations were for a lesser 0.2% decline in the index. Prices excluding food and energy [...]

New home builders breathed easier as construction activity recovered this month. The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo jumped to 44 in May following a downwardly revised April [...]