Economy in Brief: March 2012

German retail sales trends are unambiguously weak. Expressed in volume terms excluding autos they are falling at an accelerating pace. Auto registrations alone are falling at an increasingly sharp pace. The events in Spain should be [...]

The University of Michigan's Index of Consumer Sentiment for March increased to 76.2 from 75.3 in February. The figure compared to expectations for a slight dip to 75.0. An improved reading of current economic conditions led the gain [...]

Personal income increased just 0.2% during February after lessened gains of 0.2% and 0.4% during the prior two months. The latest rise missed expectations for a 0.4% gain. Wage & salary disbursements reflected the improved gains in [...]

The EMU and EU overall sentiment indices fell this month. All of the countries pictured saw their indices fall in the financial crisis/recession. All saw a strong initial recovery. Spain’s recovery topped out first, then Italy’s. [...]

Economic growth of 3.0% (SAAR) last quarter was unrevised, as expected, in the Commerce Department's 3rd estimate. Growth remained the firmest since Q2'10. Despite this slight improvement, annualized corporate profit growth amounted [...]

The job market continued to firm last week. Initial claims for unemployment insurance fell 5,000 to 359,000 during the week ended March 24 from an upwardly revised 364,000 in the previous week. The latest figure was the lowest since [...]

Italy’s retail sales volume picked up in January rising by 0.5% after a long period of weakness. If we look at monthly retail sales volumes, we have to go back to January of 2007 to find a prior 12-month period in which sales volumes [...]

More of a depressing effect on mortgage loan applications from higher interest rates was evident last week. The index of total mortgage applications fell 2.7% to 663.7 (+36.8% y/y), down for the seventh straight week. Fewer [...]