Economy in Brief: October 2016

The National Association of Realtors (NAR) reported that pending home sales increased 1.5% during September following a 2.5% August decline, revised from -2.4%. These sales are reported as an index with 2001=100. The September value [...]

Initial claims for unemployment insurance declined to 258,000 (-2.6% y/y) during the week ended October 22 following a rise to 261,000 in the week prior, revised from 260,000. The four-week moving average of claims rose to 253,000, [...]

Money supply (M2) growth in the EMU slowed its year-on-year pace to 5% in September from 5.2% in August. After being boosted to a peak year-on-year pace of 6.8% in July 2015, EMU money supply growth has steady decelerated and has been [...]

New orders for durable goods slipped 0.1% (+1.6% y/y) during September after a 0.3% August rise, revised from zero change. A 0.2% gain had been expected in the Action Economics Forecast Survey. Despite the latest decline, downward [...]

Sales of new single-family homes increased 3.1% (29.8% y/y) during September to 593,000 (AR) following an 8.6% August decline to 575,000, revised from 609,000. Sales of 604,000 had been expected in the Action Economics Forecast [...]

German consumer confidence for all intents and purposes peaked back in 2015. Then it swooned and recovered in 2016 to recover that peak, but now it is on the decay again. GfK does a look-ahead assessment of German confidence. That [...]

The Mortgage Bankers Association reported that its total Mortgage Market Volume Index declined 4.1% last week (+17.9% y/y) following a 0.6% gain. Applications to purchase fell 6.9% (+8.7% y/y) and were 12.0% below the June high. [...]

The Federal Reserve Bank of Philadelphia reported that its October Index of Nonmanufacturing Sector Activity at the company level was little changed at 16.3, the lowest level since July 2015. It remained down sharply versus 53.9 in [...]