Economy in Brief: August 2012

New orders in the manufacturing sector surged 2.8% during July following an unrevised 0.5% June fall. Expectations were for a 2.0% increase. Durable goods orders surged 4.1%, little revised from last week's advance report of a 4.2% [...]

The University of Michigan's Index of Consumer Sentiment for August rose to 74.3 from an unrevised 72.3 in July. The figure also was up from the mid-August reading of 73.6. The latest number beat expectations for 73.8. During the last [...]

While Merkel and Monti and Merkel and Draghi fight over the role of the new bailout facility the euro-Zone continues to slip. By now the whole of the e-zone is in a slide. The overall sentiment figures have slipped by roughly similar [...]

Initial claims for unemployment insurance held at 374,000 (-8.1% y/y) during the week ended August 25. The prior week was revised up from 372,000. Consensus expectations were for a decline to 370,000 during last week. The four-week [...]

Personal income grew an expected 0.3% in July (3.6% y/y), the same as in the prior two months. June's rise was revised down from 0.5%. Wages and salaries increased 0.2% (3.5% y/y) after a 0.4% June rise. Earnings on financial assets [...]

The GfK measure of the Consumer Climate rose to 5.9 points in August from 5.8 points in July and is forecasted to remain at 5.9 points in September. The series is an indicator of private consumption and is influenced by the buying [...]

The Mortgage Bankers Association index of total mortgage applications declined 4.3% last week (+24.4% y/y), the fourth straight week of sharp decline. Applications have fallen 17.2% from the June high. Applications to refinance fell [...]

Pending sales of single-family homes rose 2.4% last month after an unrevised 1.4% June decline, according to the National Association of Realtors (NAR). Sales have risen nearly one-third from the 2010 low. The sales index of 101.7 was [...]