Economy in Brief: July 2019

The employment cost index (ECI) for civilian workers rose 0.6% q/q in 2019 Q1, down slightly from a 0.7% quarterly rise in Q1. This was the slowest pace of compensation gains since 2017 Q4. The increase was slightly below expectations [...]

The Federal Reserve lowered the target for the Fed Funds rate by 25 basis points to a range of 2.00% to 2.25%. The cut followed nine increases from a low just above zero at the end of 2015. The action was expected in the Action [...]

Euro area GDP slowed in Q2 to a Q/Q pace of less than 1%. Year-over-year growth in the EMU, at 1.1%, is the weakest since Q4 2013. And EMU inflation in July is the lowest it has been year-over-year since late-2016. This combination is [...]

The Chicago Business Barometer fell to 44.4 during July from an unrevised 49.7 in June. It was the lowest reading since December 2015. The Action Economics Forecast Survey expected a reading of 51.3. The Chicago Purchasing Managers [...]

Hiring in the private sector continued its recent upward trend this month. The ADP National Employment Report indicated that private nonfarm payrolls increased 156,000 (1.7% y/y) during July following a 112,000 June rise, revised from [...]

The employment cost index (ECI) for civilian workers rose 0.6% q/q in 2019 Q2, down slightly from a 0.7% quarterly rise in Q1. This was the slowest pace of compensation gains since 2017 Q4. The increase was slightly below expectations [...]

The pump price for a gallon of regular gasoline in the U.S. fell again in the week ended July 29 to $2.72 (-4.6% y/y) from $2.75 the previous week. This is the lowest price in five weeks. Haver Analytics calculates a series which is [...]

German confidence slipped lower for the third month in a row, continuing a run of weakening that began after February 2018 and despite a failed attempt at rebounding in February 2019. There is an expedited trail of decay since March [...]