Economy in Brief: December 2003

Industrial Production excluding construction (2000=100) in the Euro zone has fluctuated in a narrow range of roughly 98-101 since September 11, 2001. Production rose just over one-half of one percent in 2001 and declined over one-half [...]

The index of mortgage applications compiled by the Mortgage Bankers Association last week recovered most of the prior week's decline with a 12.6% gain. Purchase applications recovered virtually all of the prior period's drop with a [...]

The Consumer Price Index (CPI-U) fell 0.2% (+1.8% y/y) last month after no change in October. It was the first decline in the CPI since April. Consensus expectations were for a 0.1% rise. Less food & energy prices fell 0.1%, the first [...]

The Empire State Index of General Business Conditions for December remained at a firm reading of 37.37, down just slightly from the record 40.14 in November. Consensus expectations had been for a larger decline to 33.0. The new orders [...]

Finished producer prices in November reversed some of the prior month's strength and fell 0.3%. Consensus expectations had been for a 0.2% gain. Core producer prices also changed direction and fell 0.1% versus expectations for a 0.1% [...]

Retail sales jumped 0.9% last month and the previously reported 0.3% October decline was revised up to little change. Consensus expectations were for a 0.6% November increase. Excluding motor vehicles & parts dealers, sales rose 0.4% [...]

The index of mortgage applications compiled by the Mortgage Bankers Association cratered 12.2% last week (-30.3% y/y) following an 11.7% decline the week prior. Purchase applications fell 9.5% (+11.4% y/y) to the lowest level in a [...]

The annual rate of growth in Japan's third quarter GDP was revised down from 2.2% to 1.4%. Private consumption expenditure declined at an annual rate of 0.27%. The chief factor in the downward revision was the decline in the rate of [...]