Economy in Brief: July 2014

Initial unemployment insurance claims rebounded to 302,000 (-9.3% y/y) during the week ended July 26 from 279,000 in the week prior, earlier reported as 284,000. The four-week moving average of initial claims, nevertheless, fell to [...]

The rate of unemployment in the EMU fell to 11.5% in June from 11.6% in May. For the EU area the rate fell by one tenth of one percentage point as well to 10.2%. The gap between the highest (24.5%) and the lowest (5%) unemployment [...]

The employment cost index for private industry workers surged 0.8% (2.1% y/y) in Q2'14, following an unrevised 0.3% rise in Q1. The increase was the largest since Q4 2007 and surpassed expectations for a 0.5% rise in the Action [...]

At today's meeting of the Federal Open Market Committee, the Fed indicated that the economy, consumer spending, business investment and job creation each had improved. It continued to note, however, significant labor market [...]

Employment growth eased last month. The ADP/Moody's National Employment Report indicated a 218,000 rise (2.2% y/y) in July nonfarm private sector jobs. It followed an unrevised June increase of 281,000. During the last three months, [...]

The EU index of economic sentiment fell to 105.8 in July from 106.4 in June. The comparable index for the EMU economies rose by 0.1% to a lesser standing of 102.2. For the EU members in July the industrial index slipped slightly more [...]

The economic recovery returned to a firm footing last quarter. The advance GDP estimate indicated a 4.0% rate of growth during Q2. The gain follows a 2.1% Q1 decline, revised from -2.9% and depressed by weather, inventory & foreign [...]

The Conference Board reported that their reading of consumer confidence improved 5.2% this month (12.2% y/y) to 90.9 from 86.4 in June, revised from 85.2. The latest figure beat expectations for 85.5 in the Action Economics Forecast [...]