Economy in Brief: August 2017

The Conference Board Consumer Confidence Index strengthened 2.4% during August to 122.9 following a 2.3% July rise, revised from 3.2%. The index was just below its recent peak in March and neared the highest level since December 2000. [...]

Good times in the euro area The GfK survey somehow magically surveys (projects) German confidence for the month ahead. The reading for September has ticked up from its August level to reach a new high in the series (it dates from [...]

Hurricane Harvey lifted gasoline futures to $1.71 per gallon yesterday, up 13 cents from $1.58 per gallon one week earlier. For the week ended August 28, regular gasoline prices at the pump rebounded four cents to $2.40 per gallon [...]

In the wake of the Federal Reserve's monetary conclave in the wilds of Jackson Hole Wyoming (albeit 'wilds' with room service), we find that global monetary conditions remain as they have been. This, of course, is not surprising since [...]

The Federal Reserve Bank of Dallas indicated in its Texas Manufacturing Outlook Survey that the August General Business Activity Index rose slightly to 17.0 from 16.8 in July. Nevertheless, the index remained well below the February [...]

Still an exceptionally strong report The IFO continues to show exceptionally strong readings. This month's Markit diffusion report also produced news of more strength in the industrial sector although the German services sector [...]

U.S. durable goods order plunged 6.8% in July, more than offsetting their 6.4% surge in June. Excluding transportation orders gained pace, rising by 0.5% in the month after gaining a thin 0.1% in June. Orders (ex-transportation) are [...]

Sales of existing homes fell 1.3% (+2.1% y/y) during July to 5.440 million units (AR) from a slightly revised 5.510 million in June. It was the lowest volume of sales since August 2016. Expectations were for 5.570 million sales in the [...]