Economy in Brief: January 2018

At today's meeting of the Federal Open Market Committee, the federal funds rate target was held steady in a range of 1.25%-1.50%. The financial markets had expected today's action as indicated in the Action Economics Forecast Survey. [...]

The National Association of Realtors (NAR) reported that pending home sales increased 0.5% (0.5% y/y) during December to an index level of 110.1 (2001=100). This followed a 0.5% November increase, moving the index to the highest level [...]

The unemployment rate in Europe (EMU) continues to fall. Germany has just seen another post-reunification low in its rate of unemployment as its rate fell to 3.6% in December from 3.7% in November. For all of the EMU, the unemployment [...]

The Chicago Purchasing Managers Business Barometer for January fell to 65.7 and reversed virtually all of its December gain. A decline to 64.3 had been expected in the Action Economics Forecast Survey. Purchasing Managers figures are [...]

The employment cost index for civilian workers rose 0.6% q/q in the fourth quarter of 2017, down from a 0.7% q/q rise in the third quarter. However, the y/y rate of increase advanced to 2.7% in the fourth quarter from 2.5% in the [...]

The ADP/Moody's National Employment Report indicated that private nonfarm payrolls increased 234,000 (2.0% y/y) during January. The rise followed a downwardly revised 242,000 December gain and an upwardly revised 206,000 November [...]

The National Association of Realtors (NAR) reported that pending home sales fell 0.7% in November 101.4 index in Nov The pending home sales index measures sales at the time the contract for an existing home is signed, analogous to the [...]

The National Association of Realtors (NAR) reported that pending home sales fell 2.2% m/m (-9.8% y/y) in December. This was the third consecutive monthly decline and the seventh decline in the past nine months. The December reading [...]