Economy in Brief: 2020

The IFO climate index rose to a net value of 1.2 in November from 1.1 in October as current conditions weakened to a net of 5.1 form 5.9 and expectations weakened sharply to -8.1 from -1.4. As the virus impacts Germany, the current [...]

• Confidence declines significantly, both m/m and y/y. • View of present conditions eases, but expectations collapse. • Older individuals grow more pessimistic. The Conference Board's consumer confidence survey indicated widespread [...]

• Home price gain sets record for second straight month. • Prices strengthen across the country. The Federal Housing Finance Agency (FHFA) House Price Index jumped 1.7% during September following an unrevised 1.5% August increase. The [...]

• Crude oil price increased. • Natural gas price tumbled. • Gasoline price little changed. The price for a barrel of West Texas Intermediate crude oil increased to an average of $41.62 (-27.0% y/y) in the week ended November 20 from [...]

The European/U.S. Divide It can be lost on no one that economies in Europe, the U.K., and even Japan are being beaten back by the Covid-19 virus and actions to contain it, while the U.S. seems to skate by unscathed. Ranked against the [...]

• Index suggests a pickup in economic growth. • Component performance remains mixed. The Federal Reserve Bank of Chicago's National Activity Index rebounded to 0.83 during October after easing to 0.32 in September, revised from 0.27. [...]

The equity market making a new high before the recession end is unique as it seems to imply a return to economic normalcy fairly quickly. But that optimism will be challenged. The 2020 recession was unique in that it was centered in [...]

U.K. retail sales have rebounded strongly in October, rising by 1.4% after a 1.2% gain in September. Retail sales in the U.K. are higher on all three horizons: 12 months, six months and three months. Over the recent three months, [...]