Economy in Brief: 2020

• State initial claims rose to highest level since mid-August on both a seasonally adjusted and not seasonally adjusted basis. • Federal Pandemic Unemployment Assistance new filers decreased for fifth consecutive week to lowest level [...]

Lockdown, social distancing, an R rate north of one, contact tracing and herd immunity. Most folks who read these words a few months ago would have little idea about what was being discussed. Fast forward to today and those same words [...]

Lockdown, social distancing, an R rate north of one, contact tracing and herd immunity. Most folks who read these words a few months ago would have little idea about what was being discussed. Fast forward to today and those same words [...]

Economic activity in New York slowed more than the markets had expected in October with the Empire State General Business Conditions Index slipping to 10.5 after having jumped up to 17.0 in September. This was the fourth consecutive [...]

Japan's industrial sector remains on the mend, but its rise in output in August is starkly weaker than in July when it surged. The recovery from the covid-19 episode continues, but it is a recovery that now appears to be more drawn [...]

• Both purchase and refinance applications slip. • Mortgage interest rates fall to record low. The Mortgage Bankers Association Mortgage Loan Applications Index fell 0.7% (+36.6% y/y) in the week ended October 9 after rising 4.6% in [...]

• Core pricing power remains firm. • Goods price increase picks up. • Services prices remain firm. The Producer Price Index for final demand rose 0.4% both m/m and y/y during September following a 0.3% August increase. A 0.2% rise had [...]

• Crude oil prices recover. • Natural gas prices jump. • Gasoline prices hold steady. The cost of West Texas Intermediate crude oil rose 3.1% last week (-24.4% y/y) to average $40.28 per barrel in the week ended October 9, rebounding [...]