Economy in Brief

For the last twenty five years or so, in its rush to modernize, China has stressed Investment and Exports over Consumption. 2011 was the first year in which consumption as a percentage of GDP exceeded that of Investment 49.2% vs 48.2% [...]

The data on U.S. chain store sales just don't show upward momentum entering the holiday season. Sales slipped 0.3% last week and left the November average 3.5% below last July. During the last ten years there has been a 72% [...]

Last week the pump price for a gallon of regular gasoline fell two cents (1.8%) to $3.43 per gallon. Since their September peak prices have fallen 45 cents per gallon. The minimal w/w price decline was not, however, enough to match [...]

In October, building was begun on more residential housing units than in any month since July 2008. Total housing starts gained another 3.6% (41.9% y/y) to 894,000 (AR) last month from 863,000 during September, revised up from [...]

Deflation continues to plague the Japanese economy. In real terms, GDP declined at a seasonally adjusted annual rate of 3.5% in the third quarter. In nominal terms the decline was 3.9%. When the price level declines, real increases in [...]

The housing market continues to improve. The Composite Housing Market Index from the National Association of Home Builders/Wells Fargo increased this month to 46 from 41 in October. The latest figure was the highest since April 2006. [...]

The National Association of Realtors reported that sales of existing homes increased 2.1% during October to a 4.790M annual rate. The gain followed a downwardly revised 2.9% September decline to 4.690M, initially reported as 4.750M. [...]

The Mortgage Bankers Association reported on November 15 that delinquencies on mortgages for 1-4 family homes eased in Q3 to 7.4% of the total mortgages serviced. This ties for the lowest delinquency rate since Q3 2008, when the [...]