Economy in Brief

A one-month drop belies a firming trend. The National Association of Realtors (NAR) reported that December pending sales of single-family homes fell 3.5% (+5.6% y/y) following two months of strong increase. Sales rose 7.3% in November [...]

The index of total mortgage applications slipped 5.0% last week to 663.1 (March 16, 1990 = 100). The decline followed the prior week's nearly one-quarter jump. As borrowers took advantage of low interest rates, applications to [...]

The January "Flash" estimates of the Purchasing Managers' diffusion indexes for the Euro Area continued the increases that began at the end of last year. The Composite index was up 2.7 points to 50.4, the first time the index was in [...]

The Federal Reserve Bank of Richmond reported that its Composite Index of Manufacturing Sector Activity improved during January to 12 from 3 in December. The latest was the highest level since March but compared unfavorably to the [...]

After Christmas, shoppers seem to have turned less jolly. Chain store sales fell 1.4% last week (+2.8% y/y). The decline pulled the January average 3.1% below December when sales rose 1.1%. During the last ten years there has been a [...]

Natural gas prices are continuing their recent slide. Warm temperatures, firm production and abundant inventories have lowered prices to their lowest since February, 2002. Last week's price of $2.40 per mmbtu was down nearly one-half [...]

Natural gas prices are continuing their recent slide. Warm temperatures, firm production and abundant inventories have lowered prices to their lowest since February, 2002. Last week's price of $2.40 per mmbtu was down nearly one-half [...]

France's overall business climate indicator continued its downward path in January. The measure is so designed that it's long term average is 100.& It declined to 91 in January from 92 in December and was 14.15% below a year ago. The [...]