Economy in Brief: February 2015

The consumer price index fell 0.7% during January following a revised 0.3% decline during December, earlier reported as -0.4%. It was the largest monthly drop since December 2008 and the 12-month change of -0.1% was the greatest [...]

New home sales during January were little-changed at 481,000 (5.3% y/y) following 482,000 sales during December, initially reported as 481,000. The latest figure remained nearly the highest since June 2008 and surpassed expectations [...]

French household confidence moved higher to 92 in February from 90 in January, a nice two-point rise. At 92, French confidence was last at that level in May 2012 and last higher (for one brief reading) in November 2010. Confidence was [...]

The Mortgage Bankers Association reported that their total Mortgage Market Volume Index declined 3.5% last week (+20.6% y/y). It was the the fourth decline in the last five weeks, totaling 25.2%. Refinance applications fell 7.5% [...]

The Philadelphia Federal Reserve reported that its Index of Nonmanufacturing Sector Activity gained to 46.9 this month from 8.8 in January. Its improvement versus last February, when the region was socked in by heavy snowfall, is not [...]

The Conference Board's consumer confidence index deteriorated to 96.4 this month from 103.8 during January, revised from 102.9 (1985=100). Nevertheless, it was the highest level since September 2007. The latest figure remained up by [...]

HICP inflation has finalized for the EMU and prices fell by 0.6% over the last 12 months on balance, a significant short fall from a target rate of `just under 2%.' Note that a comparable miss on the upside would have inflation at [...]

It's costing more to drive automobiles and heat homes of late. Gasoline prices continued upward by 6 cents last week to $2.33 per gallon (-32.3% y/y) following the prior week's 7 cent increase. Prices have risen 29 cents (14.1%) since [...]