Economy in Brief

Initial claims for unemployment insurance rose 13,000 to 380,000 last week and this figure was the highest level since the end of January. The weekly number compared to Consensus expectations for 355,000 claims. The four-week moving [...]

The U.S. foreign trade deficit in February declined to $46.0B versus a little-revised $52.5B in January. Expectations were for a deficit of $52.0B. Exports ticked up just 0.1% (9.3% y/y) but imports declined 2.7% (+7.6% y/y). In [...]

The producer price index for finished goods was unchanged during March following an unrevised 0.4% February gain, below expectations for a 0.3% increase. Inflation pressures, however, were still evident as core pricing power [...]

Despite lower interest rates, mortgage applications have yet to move higher. Last week the index of total mortgage applications fell 2.4% w/w to 678.8 (+52.9% y/y), down for the eighth week in the last nine. Fewer applications to [...]

Industrial production is slowing on a broad front across the Euro-Area. In February five of seven bellwether Euro-Area or EU nations had declines in their production indices over three-months; the best of their performance is flat. [...]

U.S. import prices increased 1.3% (3.4% y/y) last month after a revised 0.1% dip during February, initially pegged as +0.4%. A 0.8% March rise had been expected. Year-to-year, higher oil prices and the lower value of the dollar have [...]

The March HSBC PMI for manufacturing in China was 48.3, below the 50 mark, suggesting a slowdown in the manufacturing sector. At the same time, the China Federation of Logistics and Purchasing reported their manufacturing PMI for [...]

Finally, some relief. Pump prices for regular gasoline held steady last week at $3.94 per gallon but still were their highest since last May. The current level is up seventy cents (22%) since year-end. Haver Analytics' seasonally- [...]