Economy in Brief: 2013

Employment growth is having difficulty improving versus past gains. The ADP/Moody's National Employment Report showed a 166,000 rise (1.9% y/y) in non-farm private sector jobs last month. That followed downwardly revised increases of [...]

The Mortgage Bankers Association reported that the total mortgage market index were roughly unchanged (-55.9% y/y) last week. Applications to refinance an existing loan gained 3.1%, up by roughly one-quarter from the early-September [...]

Vehicle sales gave back some of their earlier strength last month. Unit sales of light motor vehicles fell 5.1% (+3.4% y/y) during September versus August to 15.28 million (SAAR) according to the Autodata Corporation. The latest sales [...]

Despite stability last week, chain store sales remain depressed. The International Council of Shopping Centers and Goldman Sachs reported that chain store sales ticked up 0.2% last week (+2.1% y/y). For all of this month, however, [...]

The Composite Index of Manufacturing Sector Activity from the Institute for Supply Management rose to 56.2 during September from an unrevised 55.7 in August. The latest reading was the highest level since April 2011. It beat [...]

The EMU region saw its manufacturing PMI from Markit drop to 51.1 in September from 51.38 in August. This small set back still leaves the gauge on an improving trajectory, but on a mild trajectory. Monthly set backs were seen in [...]

Rising inventories combined with weaker demand is a prescription for falling prices, and that's certainly been the case of late within the energy sector. The price of regular gasoline declined another 7 cents last week to $3.43 per [...]

German retail sales are up in August in both nominal and in real terms. And, while auto registrations are building a head of steam, German retail sales excluding autos are still slogging ahead with little sign of any renewed [...]