Economy in Brief

Housing starts unexpectedly returned to a five month low last month. Despite mild weather, the 5.8% decline (+10.3% y/y) left starts at 654,000 in March. Expectations had been for 700,000. Lower starts of multi-family homes accounted [...]

Retail sales in Japan have risen for the fourth successive month and in February were at their highest level in the last thirteen years, as can be seen in the first chart. Data on retail sales are reported in index form on seasonally [...]

The U.S. Commerce Department reported that business inventories rose 0.6% during February following an upwardly revised 0.8% January gain. Business sales increased a moderate 0.7% after a 0.4% January rise. As a result, the [...]

The National Association of Home Builders/Wells Fargo reported weaker housing activity. The Composite Housing Market Index for April fell to 25 which was its lowest since January. Earlier figures were unrevised The index of single- [...]

The Empire State Factory Index of General Business Conditions for April fell to 6.56 from an unrevised 20.21 in March. Consensus expectations had been for a lesser decline to 18.0. Based on these figures, Haver Analytics calculates an [...]

Consumers were in a mood to spend last month, on most everything. Retail sales increased 0.8% (6.5% y/y) during March following little- revised gains of 1.0% and 0.7% during the prior two months. The gain exceeded Consensus [...]

Consumer prices rose a moderate and expected 0.3% last month, down from February's unrevised 0.4% gain. The increase left the y/y increase of 2.6% down from its peak of 3.9% six months ago. Prices less food and energy increased 0.2%, [...]

The University of Michigan's Index of Consumer Sentiment for mid-April slipped to 75.7 from 76.2 in March. The figure compared to expectations for a rise to 77.0. The reading of current economic conditions fell to 80.6 which was its [...]