Economy in Brief

Initial claims for jobless insurance rose last week to 429,000 from 404,000, initially reported as 403,000. The latest figure exceeded Consensus expectations for 392,000 claims and was the highest since the third week of January. The [...]

Real GDP grew 1.8% (SAAR) last quarter, the weakest growth since Q2'10. The Q1 figure roughly equaled Consensus expectations for 1.9% growth. Weakness in last quarter's GDP components was widespread. Slower growth in personal [...]

As expected, the Federal Open Market Committee today left the Federal funds rate in a "range from 0 to 1/4 percent." The Fed funds rate has remained unchanged since late-2008 at its lowest level ever. The discount rate also was left [...]

Industrial orders in the Zone continue to expand sharply. Over the recent three months orders have accelerated to a rate of 19.6% up from an annual rate of increase of just 8.4% over six months but still a touch short of their 21.3% [...]

The Mortgage Bankers Association reported that overall mortgage applications fell 5.6% last week and reversed the prior week's gain. The latest was the lowest level since early-February. Applications to purchase a home fell 13.6% w/w. [...]

New orders for durable goods jumped 2.5% last month after a 0.7% February gain, revised up from -0.9% reported initially. Consensus expectations were for a 1.5% increase. Another jump in transportation sector orders fueled last [...]

The monetary authorities in Japan and the United States appear to be more concerned about the pace of recovery than about inflation. They are showing little signs of raising their very low official rates--close to zero in Japan, and [...]

Industrial orders continue to make gains in the uneven UK economy. The order indicator rose to plus-five in March from a reading of minus-eight in February making it the tenth largest month to month change in orders going back to [...]