Economy in Brief

The Empire State Manufacturing Survey reported that the index of general business conditions improved in December and was positive for a second month. Modest deterioration had been expected by some forecasts. Diffusion indexes for new [...]

Finished producer prices were weaker than expected last month and fell 0.4%. Consensus expectations were for no change. It was the first decline in prices since July. Excluding food and energy prices also were weaker than expectations [...]

Retail sales rose last month in line with Consensus expectations for a 0.4% gain. October sales were revised up due to slightly stronger gains in auto and nonauto sales. Total retail sales were up at a 2.7% annual rate YTD through [...]

The Leading Index of the US economy published by the Economic Cycle Research Institute (ECRI) rose 1.5% last month, more than recovering the prior two month's declines. At the end of last month, the level of the weekly leading index [...]

The Federal Reserve left the Federal Funds Target Rate unchanged at 1.25%. The action was as expected by most economists at the 22 primary dealers, bond firms that trade directly with the central bank. The brief press release which [...]

The decline in German industrial production from September to October was 2.1%, contrary to consensus expectations of a 0.9% increase. The decline was widespread, but production of capital goods suffered the least reduction of 0.8%. [...]

Corporate bond yields have remained near their cycle lows as yields on US Treasuries have moved higher. The spread between corporates and Treasuries returned to the range of the last three years. The Merrill Lynch Corporate Master [...]

Nonfarm payrolls were weaker than expected last month, falling 40,000 instead of rising 30,000 as expected by Consensus estimates. Figures for October and September were revised up slightly due to slightly higher estimates of service [...]