Economy in Brief: 2021

• The decline was the seventh in the past eight weeks. • Applications for both purchases and refinancing fell. • Interest rate on 30-year mortgage edged down; first decline in eight weeks. The Mortgage Bankers Association Mortgage [...]

Policymakers and analysts involved in the lively debate on the future path of inflation need to consider whether the government statistical agencies have the tools or information to provide an accurate general inflation assessment. [...]

• Consumer confidence improvement accompanies COVID-19 shots & stimulus checks. • Current conditions and expectations readings improve. • Job market index strengthens. Consumers' willingness and wherewithal to spend strengthened this [...]

• House prices rose 1.0% m/m, the eighth consecutive monthly increase of 1.0% or more. • Though still elevated, monthly gains seem to be moderating. • Prices were up 12.0% y/y, a series record annual increase dating back to 1991. The [...]

• Gasoline prices reverse earlier rise. • Crude oil prices drop sharply for second straight week. • Natural gas prices rise slightly. The price of regular gasoline eased to $2.85 per gallon (+42.2% y/y) in the week ended March 29 [...]

Japan's retail sales, exports and employment trends continue to move higher and to point higher. But only employment shows a steady acceleration from 12-months to six-months to three-months, growing at successively faster rates on [...]

Consumer confidence in Finland stepped back in March, dropping to a reading of -3 from -0.8 in February. The March reading has a 35.1 percentile standing among data back to 1998 but shows a substantial improvement from one year ago [...]

• New orders growth & employment strengthen. • Prices received & labor costs also rise. • Expectations are little changed, remaining near 2018 high. Manufacturing activity in Texas continued to improve during March. The Texas [...]