New orders for durable goods tumbled 5.1% (-0.6% y/y) during December following a -0.5% decline in November, revised from little change in the advance report. A 0.2% decline had been expected in the Action Economics' Forecast Survey. [...]
- Global| Jan 28 2016
U.S. Durable Goods Orders Decline Broadly
by:Tom Moeller
|in:Economy in Brief
- Global| Jan 27 2016
U.S. Mortgage Loan Applications Increase As Rates Remain Low
The Mortgage Bankers Association reported that its total Mortgage Market Volume Index gained 8.8% last week (-15.1% y/y), the third month of strong gain. Purchase applications increased 4.6% (22.5% y/y). Refinancing applications rose [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Jan 27 2016
FOMC Holds Interest Rates Steady; World Events Will Be Closely Monitored
At today's meeting of the Federal Open Market Committee, the Fed funds rate was left unchanged in the range of 0.25% - 0.50%. Adding caution to the economic outlook, the Fed indicated that it "is closely monitoring global economic and [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Jan 27 2016
U.S. State Unemployment Rates Continue Downward
The overall U.S. unemployment rate held steady during December at 5.0% for the third straight month, half its late-2009 peak. For all of last year, the 5.3% jobless rate was down roughly two percentage points from 2014. Falling [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Jan 27 2016
U.S. New Home Sales Jump; Prices Ease
Sales of new single-family homes strengthened 10.8% during December to 544,000 from 491,000 in November, revised from 490,000. The increase was helped by new closing procedures which shifted sales out of November. The gain left sales [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Jan 27 2016
German and European Confidences Hold the Line or Advance in Uncertain Times
Germany's GfK consumer confidence index, a forward-looking measure, predicts a flattening of confidence for Germany in February. The GfK measure has slowed markedly in recent months but has continued to make some hard-fought gains. As [...]
- Global| Jan 26 2016
U.S. Energy Price Decline Continues
Gasoline prices have weakened to the lowest level since January 2009. The pump price for a gallon of regular gasoline declined last week to an average $1.86 (-9.2% y/y), down from $1.91 in the prior week, according to the U.S. [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Jan 26 2016
Philadelphia Fed Survey Shows Nonmanufacturing Business Conditions Deteriorating Further
The Federal Reserve Bank of Philadelphia reported that its Index of Nonmanufacturing Sector Activity at the company level fell to 15.9 in January. It was the third month of decline, sliding to the lowest level since August. [...]
by:Tom Moeller
|in:Economy in Brief
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