Economy in Brief: 2016

The German PPI has been on the move up. But a funny thing happened in September on that journey; the PPI backtracked and fell. This setback has also blunted the pace of the PPI rise and even the path of the ex-energy PPI. That gauge [...]

The Philadelphia Federal Reserve reported that its General Factory Sector Business Conditions Index remained positive in October. At 9.7, it was third consecutive positive reading, and followed an unrevised 12.8 in September. It was [...]

During the last 10 years, economic growth has averaged 1.4% per annum, well below the economy's 3-4% growth rates during earlier ten year periods. Nevertheless, it's the second longest period of positive economic growth since WWII. [...]

The chart presents the three main sectors: (1) mining and manufacturing, (2) construction and (3) services (tertiary) as year-on-year growth rates. Since early in 2015, the growth rates of all three sectors have been exceptionally [...]

The Mortgage Bankers Association reported that its total Mortgage Market Volume Index rose 0.6% last week (18.5% y/y) following a 6.0% fall. Applications to purchase jumped 3.0% (13.0% y/y), and made up the prior week's decline. [...]

Housing starts fell 9.0% during September (-11.9% y/y) to 1.047 million units (AR) following a 5.6% August decline to 1.150 million, revised from 1.142 million. It was the lowest level of starts since March of last year. Expectations [...]

The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo fell 3.1% during October to 63 (6.7% y/y) following an unrevised jump to 65 in September. The NAHB figures are seasonally adjusted. During [...]

The U.K. is bracing for inflation since the pound sterling has been in a tailspin in the wake of the U.K. Brexit vote. Sterling is down from its peak this year by about 16% vs. the dollar and about the same amount vs. the euro. When a [...]