Economy in Brief: April 2021

Despite some better performance on indicators such as the recent (and slightly timelier) EU Commission indexes, GDP across the euro area remains challenged, falling in Q1 2021. Because the EU Commission was not able to secure enough [...]

• Barometer jumped to highest level since December 1983. • New orders & orders backlogs surge. • Pricing power improves significantly. The ISM-Chicago Purchasing Managers Business Barometer strengthened to 72.1 in April from 66.3 in [...]

• Total income jumps and wages strengthen. • Spending increases broadly. • Pricing power picks up. Personal income jumped a record 21.1% during March (29.0% y/y) after a 7.0% February fall, revised from -7.1%. A 19.7% rise had been [...]

• Overall Compensation rose 0.9% in Q1; year-on-year growth accelerate slightly to 2.6%. • Wage and salaries increased 1% in Q1 (2.7% y/y), while benefits grew 0.6% (2.5% y/y). The employment cost index (ECI) for civilian workers rose [...]

• Both initial state claims and PUA claims fell to pandemic lows. • Continuing state claims essentially unchanged at pandemic low. • Continuing claims for PUA and PEUC benefits both decline. Initial claims for unemployment insurance [...]

April brought a surge to the reading for all of the EMU in the European Commission’s index profile of the euro area. The index gain is the third largest month-to-month gain on data back to 2000. It is the largest month-to-month gain [...]

• Purchases remain constrained by limited supply. • Sales are mixed amongst regions. Pending home sales increased 1.9% (23.3% y/y) during March following an 11.5% February fall, revised from -10.6%. According to the National [...]

• Cash payments, vaccinations and reduced business restrictions lift consumer spending. • Business investment surges, again • Price index is lifted by energy and housing. Trillions of dollars in government aid as well as widespread [...]