Economy in Brief

The outplacement firm of Challenger, Grey & Christmas reported that job cut announcements during February slipped to 51,728 and remained near the earlier low. During the last ten years there has been a 67% correlation between the [...]

Reported late yesterday, consumer credit outstanding jumped another $17.8B (4.3% y/y) during January after a $16.3B December increase, revised from $19.3B. A $10.0B increase had been expected by Action Economics. It raised credit [...]

German orders fell by 2.7% in January, an unexpected development. The drop follows a gain of 1.6% in December and a large 4.9% drop in November. As a result the three-month growth rates are deteriorating for orders. Foreign orders are [...]

The index of total mortgage applications slipped 1.2% last week to 754.4 (+46.7% y/y), down for the fourth consecutive week. Nevertheless, applications were up by nearly one-half versus last year. Applications to refinance fell 2.0% [...]

The job market continues to improve at a moderate rate. Private nonfarm payrolls rose 216,000 last month after rising 173,000 during January, revised from 170,000 reported last month. Earlier figures were revised due to updated [...]

Fourth Quarter data on Gross Domestic Product for many Eastern European countries are beginning to appear. For the most part, these economies peaked in 2008 and after declining in 2009 and 2010 began to recover in the first half of [...]

Purchasing Managers from manufacturing firms in the Euro Area were, on balance. slightly more pessimistic in February than they were in January. For the Euro Area as a whole, the index was 50.33, down from 50.42 in January, still in [...]

Spend money: Consumers tend to do just that. And lately they've been at it wholeheartedly. Chain store sales rose 1.3% last week (1.7% y/y) and the increase lifted early-March spending 1.5% above the February average. The year-to-year [...]