Economy in Brief

Chain store sales continue lethargic. Last week they fell 1.2% (+3.4% y/y) and fully reversed the prior period's gain. So far in September sales are down 1.0% from August when they fell 1.8% versus the July peak. During the last ten [...]

The pump price for a gallon of regular gasoline fell another six cents last week to $3.60. Prices were down thirty-six cents since the May peak. Pump prices usually rise this time of year with increased seasonal demand. To account for [...]

Forward momentum has yet to build in the housing sector. Housing starts fell 5.0% to 571,000 units (AR) during August, the lowest level since May, after a deepened 2.3% July decline. Expectations had been for 593,000 starts which have [...]

While many developed and developing countries, are beginning to loosen monetary policies in the face of the global slowdown, India continues to tighten. Over the past year, the Bank of India has raised the repo rate 350 basis points [...]

German orders are slipping. So are orders in Spain. The monthly data are choppy but the trends are clearer. By comparison the US order-flow is holding up and has steadied. The German orders profile is the most extreme because Germany [...]

On two counts the National Association of Home Builders report on housing market activity this month was a disappointment. First, the September figure fell back to 14, near its lowest of the recovery. Second, it was short of Consensus [...]

The University of Michigan's Index of Consumer Sentiment for mid-September bounced slightly higher to 57.8 following its August plunge to 55.7. A reading of 56.0 had been expected by Action Economics. Nevertheless, the reading was [...]

Withering from heights - The chart offers a very clear picture of euro-trends. Export growth is withering. Import growth is withering in step. As a result the EMU external trade deficit has steadied at around -Ć2.5bln. Near term [...]