Economy in Brief: 2021

• Refinancing & purchase applications jump. • Mortgage interest rates ease again. The Mortgage Bankers Association Mortgage Loan Applications Index increased 8.6% (-5.7% y/y) in the week ended April 16, following six consecutive [...]

Germany's PPI surged in March gaining 0.9% after strong gains in each of the two prior months as well. While the gains are somewhat less ‘impressive,' the ex-energy price increases in the last three months have been large as well. [...]

• Gasoline prices reverse last week's easing. • Crude oil prices strengthen. • Natural gas prices reach five-week high. The price of regular gasoline edged higher to $2.86 per gallon (+57.6% y/y) in the week ended April 19 and [...]

After a dip into deficit in February, Japan's trade balance shifted to surplus in March as exports surged 4.3% and imports receded by 0.7%. Both exports and imports in March reversed their respective changes in February. However, both [...]

• Lumber prices strengthen. • Metals prices are mixed. The Industrial Materials Price Index, from the Foundation for International Business and Economic Research (FIBER), increased 1.4% during the four weeks ended April 16, leaving [...]

The pace of improvement in state labor markets in March was varied. Despite the very large increase in national payrolls, only 29 states reported statistically significant gains, though Alaska was the only state to register a (small [...]

How can sales be remarkable and yet forgettable? Answer: you only need to look at this month's data to see why or how. Car registrations are not going to be the only statistic that bears these dual and seemingly dueling [...]

• House prices down in January and up in February. • Income swings up in January and down in February. The National Association of Realtors reported that its Fixed Rate Mortgage Housing Affordability Index decreased 7.6% (-1.4% y/y) [...]