Economy in Brief

Personal income jumped 2.6% (6.9% y/y) last month after a revised 1.0% November gain, initially reported as 0.6%. A 0.8% rise was the consensus expectation. Last month's jump centered on a 34.3% surge (49.6% y/y) in dividend income. [...]

As expected, the Federal Open Market Committee today left the Federal funds rate in a "range from 0 to 1/4 percent". The Fed funds rate has remained unchanged since late-2008 at its lowest level ever. The discount rate also was left [...]

Nonfarm private sector payrolls increased 192,000 during January according to the ADP/Moody's National Employment Report. The gain followed a 185,000 December rise, initially reported as 215,000. Consensus expectations were for a [...]

The economy felt the full effect of businesses' efforts to reduce inventories last quarter and lower defense spending. Real GDP fell 0.1% (AR) in Q4'12 (+1.5% y/y) following an unrevised 3.1% rise in the third quarter. It was the [...]

The Conference Board's Consumer Confidence Index for January dropped sharply to 58.6 from 66.7 in December, revised from 65.1. The latest figure was the lowest since November 2011. Consensus expectations had been for a little-changed [...]

German consumer confidence edged higher in February according to the forward-looking GFK index. While the expectations sub index edged up only slightly several of its components rose significantly. Overall Germany's index rose to 5.8 [...]

Energy prices have taken a new tack: northward. The pump price for a gallon of regular gasoline rose another 4 cents last week to $3.36 per gallon. That followed a 2 cent rise during the prior. Still, prices remain down 52 cents per [...]

Back before the recession, home price appreciation was firm but decelerating. Now it's firm and accelerating. The seasonally adjusted Case-Shiller 20 City Home Price Index rose 0.6% during November following a revised 0.6% October [...]