Economy in Brief: July 2015

The National Association of Realtors (NAR) reported that pending sales of single-family homes declined 1.8% during June (+11.1% y/y) following a little revised 0.6% May rise. Expectations were for a 0.9% increase according to [...]

The GfK consumer confidence climate measure was dead flat in August at a level of 10.1. It peaked at 10.2 in this cycle in June and registered 10.0 in April. It has been nearly flat since April with only minor variations. While the [...]

The Mortgage Bankers Association reported that its total Mortgage Market Volume Index notched 0.8% higher last week (11.4% y/y) and remained near the level of late-May

The Conference Board's Consumer Confidence Index declined 8.9% this month (+0.7% y/y) to 90.9 from 99.8 in June, revised from 101.4. It was the lowest reading since last September and missed expectations for 100.0 in the Action [...]

Italy's economy is still under a great deal of pressure. While it has a large number of people wanting work, the number looking for work (a key ILO statistic to be considered unemployed) has dropped off sharply. It is not surprising [...]

WTI crude oil costs dropped sharply last week to an average $49.30 per barrel (-52.8% y/y), down from last month's high of $60.07. Yesterday, prices declined further to $47.39 per barrel. These prices compare to a June 2014 high of [...]

The Federal Reserve Bank of Dallas indicated that Texas business conditions improved through this month. The overall business activity index rebounded to its highest level since January while production strengthened to the firmest [...]

Year-over-year trends show both EMU money and credit on better growth paths after a lull from late-2011 to late-2013 for credit and from 2013 to mid-2014 for money. But the growth rates from the table of one year or less tell a story [...]