Economy in Brief: 2021

German industrial production was up in March after two months that showcased severe declines; that had followed four months that had brought quite strong gains. These are statistics from the original post-virus recovery period, the [...]

• Increase in inventories widespread. • Largest monthly increase in sales since last July with upward revisions to February. • With sales outpacing inventories, I/S ratios declined. Wholesale inventories increased 1.3% m/m (4.5% y/y) [...]

• Weakness in hiring is broad-based. • Average hourly earnings rebound, reversing March decline. • Unemployment rate edges up from twelve-month low. Strength in the labor market waned following the initial lift from business re- [...]

• Fewer refinancings lead decline as purchase applications rise. • Mortgage interest rates edge higher. The Mortgage Bankers Association's Loan Applications Index fell 4.2% (-7.1% y/y) in the week ended May 21, following a 1.2% rise [...]

• Initial claims fall to another pandemic low. • Continuing claims rise moderately. • Insured unemployment rate holds steady. Initial claims for unemployment insurance declined in the week ending May 1 to 498,000 from 590,000 in the [...]

• Nonfarm worker productivity surges. • Compensation per hour rises in Q1’21. • Unit labor costs decline. Nonfarm business sector productivity rose 5.4% (SAAR, 4.1% y/y) during Q1’21, following a decline of 3.8% (SAAR, +2.6% y/y) in [...]

German orders surged in March rising by 3% after gaining by 1.4% in February and 0.8% in January. The surge was being pushed ahead by domestic orders that spurted by 4.9% in March after a substantial 4% boost in February, a surge that [...]

• Initial claims fall to another pandemic low. • Continuing claims rise moderately. • Insured unemployment rate holds steady. Initial claims for unemployment insurance declined in the week ending May 1 to 498,000 from 590,000 in the [...]