Economy in Brief: 2020

• The number of job openings improves slightly. • Layoffs decline but quits rise. The Bureau of Labor Statistics reported that on the last business day of September, the total job openings rate held steady at 4.3%. August's figure was [...]

• Stability in NFIB Small Business Optimism follows strong gains. • Employment readings ease. • Pricing gauges strengthen. The National Federation of Independent Business' (NFIB) Small Business Optimism Index held steady at 104.0 [...]

• Crude oil prices rise to $37.82; remain in $37 to $43 range since June. • Gasoline prices edge down. The price for a barrel of West Texas Intermediate crude oil increased to an average of $37.82 per barrel (-33.4% y/y) in the week [...]

The OECD LEIs remained below 100 in October as they have been for a series of months. Only China poked its head up above the key 100 level in October. China’s index was last above 100 in January 2018. The United States was last above [...]

• Metals and textile prices improve. • Crude oil costs ease. The Industrial Materials Price Index from the Foundation for International Business and Economic Research (FIBER) increased 1.7% (3.5% y/y) during the last four weeks. The [...]

• Nonrevolving borrowing jumps. • Credit card balances resume their increase. Consumer credit outstanding increased $16.2 billion (0.4% y/y) during September following a $6.9 billion August decline, revised from $7.2 billion. A $7.7 [...]

• Private sector hiring picks up. • Earnings growth remains subdued. • Jobless rate declines to seven-month low. Nonfarm payroll employment increased 638,000 during October (-6.0% y/y) after rising 672,000 in September, revised from [...]

German industrial output rose by 1.6% in September, faster than its 0.5% rise in August, keeping the expansion in output and recovery on track. German output is accelerating from 12-months to six-months to three-months and it is [...]