Economy in Brief: January 2015

Real GDP growth last quarter slowed to 2.6% (AR, 2.5% y/y) from 5.0% in Q3. For all of 2014, growth of 2.4% compared to 2.2% and 2.3% during the prior two years. The latest gain fell short of a 3.3% rise in the Action Economics [...]

Chicago purchasing managers indicated that their January Business Barometer Index ticked higher to 59.4 but remained down from 64.5 reached three months ago. The reading fell short of expectations for 57.9 in the Action Economics [...]

The employment cost index for private industry workers rose 0.6% (2.1% y/y) in Q4'14, following an unrevised 0.7% Q3 rise. The Q3 number equaled expectations for a 0.6% rise in the Action Economics Forecast Survey. For 2014 as a [...]

The unemployment rate turned lower in December in both the EU and EMU. This, despite a host of problems: weak PMI readings and the ECB on a glide path to its controversial QE plan. Of the 11 topically reporting members in the table, [...]

Real GDP growth last quarter slowed to 2.6% (AR, 2.5% y/y) from 5.0% in Q3. For all of 2014, growth of 2.4% compared to 2.2% and 2.3% during the prior two years. The latest gain fell short of a 3.3% rise in the Action Economics [...]

The National Association of Realtors (NAR) reported that pending sales of single-family homes declined 3.7% last month (+6.1% y/y) following a revised 0.6% November increase, last month reported as 0.8%. For all of last year, pending [...]

EMU money and credit growth in December show signs of making progress. Money is steadily accelerating and rising at a strong 6.7% annual rate over three months. In real terms, money growth is up to an 8.2% annual rate over three [...]

Initial claims for unemployment insurance dropped to 265,000 during the week ended January 24 from 308,00 during the prior week, revised from 307,000. It was the lowest level of claims since April 2000. Adjusting for the timing of the [...]