Economy in Brief

The Conference Board’s National Index of Help-Wanted Advertising improved to 39 last month, the highest level since March. During the last ten years there has been a 92% correlation between the level of help-wanted advertising and the [...]

Durable goods orders unwound much of the prior month's strength with a 3.1% plunge in November. October orders were revised up to a 4.0% gain from the advance report of a 3.3% jump. Consensus expectations had been for a 1.0% rise in [...]

US economic growth was unrevised at 8.2% (AR) for 3Q03, as expected. Growth in corporate profits w/IVA & CCA was lowered slightly to 46.0% (AR, 24.9% y/y) from the initial read of 56.0% growth. That followed a 48.1% burst in 2Q. [...]

Italian business confidence dropped to 91.2 (1995=100) in December from a revised November reading of 94, which had previously been reported at 94.4. The mood among businessmen in Italy contrasts with that in other Eurozone countries [...]

The foreign exchange value of the US dollar versus major currencies has risen 2.5% since the early December low (-12.2% y/y). Roughly 50% of US foreign trade is with the countries in the major currency index. Since 1990 there has been [...]

Initial claims for jobless insurance fell 22,000 (-5.9%) last week to 353,000. That followed an increase the prior week that was revised to 10,000 from 13,000 reported initially. Consensus expectations had been for claims of 370,000. [...]

Industrial Production excluding construction (2000=100) in the Euro zone has fluctuated in a narrow range of roughly 98-101 since September 11, 2001. Production rose just over one-half of one percent in 2001 and declined over one-half [...]

The index of mortgage applications compiled by the Mortgage Bankers Association last week recovered most of the prior week's decline with a 12.6% gain. Purchase applications recovered virtually all of the prior period's drop with a [...]