Economy in Brief: November 2011

The National Association of Realtors (NAR) reported that pending sales of existing single-family homes jumped 10.4% last month to the highest level since November 2010. The sharp rise in sales reflected m/m strength across the [...]

Let's talk about a reversal. The index of total mortgage applications fell 11.7% last week to 576.4 (March 16, 1990 = 100). Its was the third consecutive weekly decline and reversed all of the gains since late-July. Since early this [...]

The outplacement firm of Challenger, Grey & Christmas reported that job cut announcements during November remained low at 42,474, roughly the same as October's 42,759. The latest figure was the lowest since June. The low level of [...]

Recent job market improvement gained momentum last month. According to the payroll processor Automatic Data Processing (ADP) and economic consultants Macroeconomic Advisers, private nonfarm payrolls grew 206,000 (0.2% m/m) during [...]

In spite of the turmoil in the Euro Area and the European Union, consumers and entrepreneurs in Germany saw some slight improvement in the economic climate in November. The IFO institute reported that entrepreneurs experienced a [...]

Following three months of weakness, the Conference Board's November Index of Consumer Confidence rebounded by roughly one-third versus October. A lesser rise to 43.0 had been expected. Nevertheless, confidence remained down nearly [...]

Pressure on home prices just won't let up. During September prices fell in all but five cities. The seasonally adjusted Case-Shiller 20-City Home Price Index dropped 0.6% during September following a 0.3% August slip that was revised [...]

This holiday shopping season began on a firm note. Chain store sales jumped 1.7% last week and were at the highest level since the first week of August. The average for this month so far is up 1.3% (3.1% y/y) from October when sales [...]