Economy in Brief: April 2020

Weakness in industrial sector activity is translating into reduced pricing power. The Producer Price Index for final demand eased 0.2% (+0.7% y/y) during March following a 0.6% February fall. A 0.3% decline had been expected in the [...]

As the pandemic takes its toll and as governments and central backs adopt support programs, the OECD leading economic indicators become important gauges to track. These LEI measures are just beginning to roll over and show weakness [...]

The Mortgage Bankers Association reported that its Mortgage Loan Application Index declined 17.9% (+51.0% y/y) in the week ended April 4 and reversed the prior week's 15.3% gain. Purchase applications dropped 12.2% w/w and by one- [...]

The Mortgage Bankers Association reported that it's Mortgage Loan Application Index declined 17.9% (+51.0% y/y) in the week ended April 4 and reversed the prior week's 15.3% gain. Purchase applications dropped 12.2% w/w and by one- [...]

Consumer credit outstanding increased $22.3 billion (4.5% y/y) during February following an unrevised $12.0 billion January gain. It was the strongest monthly increase since July. A $14.0 billion gain had been expected by the Action [...]

The price of West Texas Intermediate crude oil at $26.08 per barrel yesterday improved versus an average $21.72 last week. The price was roughly two-thirds lower y/y. The price of Brent crude oil rose to $33.08 per barrel yesterday [...]

The Bureau of Labor Statistics reported that total the job openings rate slipped to 4.3% during February from 4.4% in January. The rate is openings as a percent of total employment plus openings. These figures remained below the 4.8% [...]

We are clearly in a mode of watching numbers and waiting for another shoe to drop. Data through February for the most part are still normal economic data with the usual monthly ebb and flow of trend. There is even a touch of rebound [...]