Economy in Brief

Fewer payrolls were cut back last month. The Labor Department reported that layoffs of 50 or more persons from a single firm fell to 811, the lowest level since September 2007; down nearly by one-third y/y. However, this decline was [...]

Perhaps it's all seasonal, but there's been pressure on consumer spending. Since their peak in mid-July, chain store sales have fallen 5.0%, leaving the y/y gain at 2.9%. Chain store sales fell 0.7% last week and the October average [...]

The summer driving season is over and the overall economy is weak. That's a prescription for lower gasoline prices. Last week, the pump price for a gallon of regular gasoline dropped thirteen cents (-3.5%) to $3.69 per gallon. That [...]

The disastrous earthquake and tsunami of March, 2011 disrupted Japan's foreign trade in goods for more than a year as the loss of production curtailed exports and increased imports. But so far there has not been a return to [...]

For 2013, the National Association for Business Economics lowered the expectation for real GDP growth to 2.2%, a revision from the 2.7% expected in May. That follows a little revised projection for 2.2% growth for this year. Quarterly [...]

Throughout the United States, the unemployment rate has fallen to some degree from its recession high. However, there are notable exceptions. In New Jersey and New York, for example, unemployment rates recently reached new highs. In [...]

Orders rose in August for both France and Italy. But growth rates continue to be challenged. For the moment France is keeping weakness away a bit better than is Italy. There are other differences too. For Italy domestic demand has [...]

The National Association of Realtors reported that sales of existing homes fell 1.7% last month to a 4.750M annual rate. The decline followed an upwardly revised 8.1% August rise and roughly matched expectations. Sales of existing [...]