Economy in Brief: 2008

Not since the recession of the early 1990s have housing starts fallen so low. A 14.2% m/m decline in December dropped starts to 1.006 million units after a downwardly revised 7.9% November decline. The decline, which by far exceeded [...]

For January, the Composite Housing Market Index from the National Association of Home Builders' (NAHB) remained low versus a December reading that was revised up slightly. The index was stable in the Northeast (-47.4 % y/y) but fell [...]

Industrial production was unchanged last month, a bit better than the expected slight decline. That followed an unrevised 0.3% November rise. For all of last year, the 1.6% increase in output was the weakest since 2003. The latest [...]

The UK economy continues to be a bit enigmatic. Unemployment is still declining. Economic activity seems to blow and cold. The financial chaos is threatening to take Northern Rock into the public domain. The economy is clearly [...]

The consumer price index (CPI-U) last month rose 0.3%. The increase was slightly ahead of expectations for a 0.2% rise. It was well below the heightened 0.8% November jump and equal to the gains of the prior two months, Nevertheless, [...]

The consumer price index (CPI-U) last month rose 0.3%. The increase was slightly ahead of expectations for a 0.2% rise. It was well below the heightened 0.8% November jump and equal to the gains of the prior two months, Nevertheless, [...]

Continued strength of the euro and now fears of recession in the United States are taking their toll on the confidence of German institutional investors and financial analysts as shown by the ZEW's (Center for European Research at [...]

Inflation is above the ECB top allowed mark in seven of nine early reporters in December, nearly 80% if them. Through November, 92% of the central 12 members of EMU have inflation running over 2%. That compares to 80% in October and [...]