Economy in Brief

Housing starts jumped 14.5% m/m during January to 2.276M units, the highest since 1973, following a December decline which was revised shallower. New construction activity most certainly was aided by the record warm temperatures last [...]

Housing starts jumped 14.5% m/m during January to 2.276M units, the highest since 1973, following a December decline which was revised shallower. New construction activity most certainly was aided by the record warm temperatures last [...]

Foreign investors sharply reduced their net purchases of securities from US investors in December, according to the US Treasury's monthly Treasury International Capital ("TIC") data reported this morning. Foreigners bought $74.16 [...]

The total number of mortgage applications fell 7.3% last week, the third consecutive weekly decline. The declines have been sufficient to reverse virtually all of the 5.2% increase in applications during the month of January. Purchase [...]

The February Empire State Index of General Business Conditions, published by the Federal Reserve Bank of New York, was roughly stable at 20.31 following the 6.16 point January decline to 20.12. Consensus expectations for the factory [...]

Overall industrial output fell last month by 0.7% following an upwardly revised 0.9% rise during December. The decline, however, wholly reflected the warm temperatures which reduced utility output by 10.2% (-4.7% y/y). Consensus [...]

Overall industrial output fell last month by 0.7% following an upwardly revised 0.9% rise during December. The decline, however, wholly reflected the warm temperatures which reduced utility output by 10.2% (-4.7% y/y). Consensus [...]

According to flash estimates published today, growth in real gross domestic product of the twenty-five countries of the European Union slowed to 0.4% in the fourth quarter of 2005, down from a 0.6% increase in the third quarter. [...]