Economy in Brief

Italy’s goods trade deficit emerged in May after April posted a surplus. The current deficit widened. Imports are now faltering with capital goods and transport categories showing outright declines Yr/Yr as domestic weakness takes its [...]

The 2Q '08 Composite Business Index published by the Manufacturers' Alliance/MAPI fell to 47 from a revised level of 58 in 1Q '08. Prior years' readings were revised and the latest was the lowest since 1Q '02. During the last ten [...]

Initial claims for unemployment insurance rose a moderate 5.4% last week to 366,000 from a little revised level during the week prior. The increase fell short of Consensus expectations for a larger rise to 380,000 claims. The latest [...]

Housing starts rebounded smartly last month. The 9.1% m/m rise to 1.066M units by far exceeded Consensus expectations for .960M starts. The rise was, however, due solely to the multi-family sector. Multi-family starts surged 42.1% [...]

Housing starts rebounded smartly last month. The 9.1% m/m rise to 1.066M units by far exceeded Consensus expectations for .960M starts. The rise was, however, due solely to the multi-family sector. Multi-family starts surged 42.1% [...]

Although the ECB policy remains steadfastly fixed on the behavior of the HICP headline, it is the HICP core that is showing signs of behaving. The six month pace of the core at 2.3% is as low as it has been since Oct 2007 (eight [...]

Industrial production recovered unexpectedly by 0.5% last month, but the gain was due mostly to warmer temperatures. The rise followed an unrevised 0.2% decline during May. Consensus expectations had been for no change in output last [...]

The June consumer price index (CPI-U), as reported by the Bureau of Labor Statistics, jumped 1.1% after May's 0.6% rise. The increase, fueled by higher energy prices, was the strongest since October 2005 and it lifted the y/y increase [...]