Economy in Brief

As of July, average hourly earnings in the U.S. when adjusted for inflation had barely risen (0.1%) versus the year ago level. That stagnancy followed an outright decline in real earnings of 0.4% for all of 2004. The lack of movement [...]

Citing sluggish consumer and investment spending, the Bank of England yesterday reduced its repo rate from 4.75% to 4.50%. This was the Bank's first change in the rate in exactly a year, since August 5, 2004, when it raised the rate [...]

In July, non-farm payrolls outpaced Consensus expectations for a 180,000 rise and increased 207,000 while the June and the May increases were revised up to 166,000 and 126,000, respectively. While showing improvement, these monthly [...]

In July, non-farm payrolls outpaced Consensus expectations for a 180,000 rise and increased 207,000 while the June and the May increases were revised up to 166,000 and 126,000, respectively. While showing improvement, these monthly [...]

Manufacturers' new orders in Germany increased 2.4% in June, following a similar 2.3% gain in May. Forecasters had expected that after the good May rise, orders would be flat in June, so this was a pleasant surprise. This month, it [...]

Initial claims for unemployment insurance ticked down to 312,000 last week from an upwardly revised 313,000 the prior week and contrasted to Consensus expectations for 315,000 claims. The four week moving average of initial claims [...]

Initial claims for unemployment insurance ticked down to 312,000 last week from an upwardly revised 313,000 the prior week and contrasted to Consensus expectations for 315,000 claims. The four week moving average of initial claims [...]

Retail sales in the Euro-Zone increased 0.4% in June, reported this morning by Eurostat, to reach 104.25 (2000=100), a record high. The previous high was 104.07 in January. As seen in the first chart, these sales are fairly erratic [...]