Economy in Brief: 2020

Japan's industrial production is up by 3.2% in September. IP is growing at a 65.4% annual rate over three months, but it is sill contracting on balance over six months and 12 months. The fire under IP in recent month is still not [...]

The EU Commission indexes registered an unchanged reading at 90.9 for the euro area in October. With the virus flaring all across Europe, that result was better than expected. Virus shutdown actions nonetheless proliferate across [...]

• After record decline in Q2, GDP posted record increase in Q3. • Led by rebounds in consumption and fixed investment. • But level of GDP still 3.5% below previous peak level. • Prices bounce back after having declined in Q2. U.S. GDP [...]

• Pending home sales fall for the first time since April. • Sales drop in all the major regions except in the Northeast. Pending home sales fell 2.2% (+20.5% y/y) in September, the first m/m fall since April, after an 8.8% rise in [...]

• State initial claims declined to their lowest level since mid-March on both a seasonally adjusted and not seasonally adjusted basis. • Federal Pandemic Unemployment Assistance new filers rose for second week. • Continuing claims [...]

The French household sector assessment edged lower in October as it fell to 94.0 from September's 95.3 reaching its lowest level since May 2020. Confidence has a ranking in its lower 41.1 percentile on data back to 2000, marking [...]

• Led by 2.5% w/w jump in refinancing applications. • Purchase applications were essentially unchanged. • Fixed mortgage interest rates generally declined with the Jumbo rate falling to a new record low. The Mortgage Bankers [...]

• Trade deficit decreased to $79.4 billion in September from a record $83.1 billion. • Exports grew by 2.7% while imports declined 0.2%. • Exports still 11.4% below February 2020 level. Imports up 2.4%. The advance estimate of the [...]