Economy in Brief

Employment, typically a lagging indicator, declined for the second quarter in the Euro Area. The decline was 453,000 after a decline of 215, 000 in the third quarter. In the United States, comparable figures were declines of 1,261,000 [...]

This month's Empire State Index of manufacturing sector activity, reported by the Federal Reserve Bank of New York, fell to a new low for the series which dates back to 2001. Continued stress was indicated by the reading of -38.23, [...]

Declining demand coupled with cutbacks to inventory levels continue to severely depress U.S. factory sector activity. During February, industrial production fell 1.5% after the little-revised 1.9% drop during January. Last month's [...]

Declining demand coupled with cutbacks to inventory levels continue to severely depress U.S. factory sector activity. During February, industrial production fell 1.5% after the little-revised 1.9% drop during January. Last month's [...]

The E-Area consumer remains under pressure and the retail sales picture reflects that. Even so, retailing is hardly the weakest sector in the Area. The output sector – factories- are much weaker. Exports are much weaker. Retail sales [...]

The earlier souring of consumers' moods seems to have stabilized. The University of Michigan reported that its reading of consumer sentiment held steady in early March with its February level. In fact, sentiment has moved roughly [...]

U.S. import prices fell another 0.2% during February, dragged lower by the worldwide recession. The generalized decline, which offset the influence from higher oil prices, followed a little-revised 1.2% January drop. During the last [...]

January's U.S. foreign trade deficit narrowed again to its shallowest level since the summer of 2002. The deficit of $36.0B narrowed from the unrevised December figure of $39.0B. Lower oil prices and the U.S. recession acted to reduce [...]