Economy in Brief: July 2012

It remains a problematic growth environment. Real GDP advanced at an expected modest 1.5% annual rate during Q2'12 following 2.0% Q1'12 growth and a 4.1% Q4'11 advance. The gains continue to make this the weakest economic recovery on [...]

New orders for durable goods jumped another 1.6% last month following a similar May increase (initially reported as 1.1%). The Consensus forecast was for a 0.5% June rise. Resurgent orders for aircraft & parts accounted for much of [...]

Pending sales of single-family homes fell 1.4% last month after a little revised 5.4% May rise, according to the National Association of Realtors (NAR). Sales have risen nearly one-third versus the 2010 low. Nevertheless, the sales [...]

By comparison with Italy, France and the UK, German consumers are feeling pretty good. Expectations are beginning to falter. But climate continues to show some very gradual improvement. German confidence in is the top 17% of its [...]

Bona fide job market improvement was more in evidence last week. Initial claims for unemployment insurance dropped back to 353,000 during the week ended July 21st from 388,000 during the prior week, revised from 386,000. The decline [...]

The chart depicts the IFO standard indices while in the table we show the history of sectors using the IFO diffusion gauges. Both approaches show a sliding German economy. Retailing and construction have become the relative strongest [...]

The chart depicts the IFO standard indices while in the table we show the history of sectors using the IFO diffusion gauges. Both approaches show a sliding German economy. Retailing and construction have become the relative strongest [...]

Lower interest rates continue to generate business for mortgage lenders. The Mortgage Bankers Association index of total mortgage applications rose 0.9% last week (78.7% y/y) on top of the prior week's 16.9% jump. The figures are [...]