Economy in Brief: January 2018

New orders for durable goods soared 2.9% m/m (11.5% y/y) in December on top of an upwardly revised 1.7% m/m gain in November (initially reported as +1.3%). The Action Economics Forecast Survey had anticipated a 0.9% m/m increase. For [...]

Economic growth eased slightly at yearend as GDP posted a 2.6% advance (AR) during Q4'17, following roughly 3.0% growth in each of the prior two quarters. Growth picked up, however, from Q4-to-Q4 to 2.5%, its quickest advance in three [...]

The Federal Reserve Bank of Kansas City reported that its index of regional manufacturing sector business activity rebounded to 16 in January following two months of decline. Despite the increase, the figure remained near its recent [...]

The German GfK look-ahead consumer confidence metric for February shows German confidence headed for a new high. Conditions in the labor market are touted as driving consumer attitudes. The three components of the GfK index, [...]

Sales of new single-family homes fell 9.3% (14.1% y/y) to 625,000 (SAAR) in December; November's sales were 689,000, revised down from 733,000 reported initially. Expectations in the Action Economics Forecast Survey had been for [...]

The Conference Board's Composite Index of Leading Economic Indicators increased 0.6% (5.7% y/y) during December following a 0.5% November rise, revised from 0.4%. A 0.5% gain had been expected in the Action Economics Forecast Survey. [...]

Initial unemployment insurance applications increased to 233,000 (-7.6% y/y) during the week ended January 20 from 216,000 claims in the prior week, revised from 220,000. Expectations had been for an increase to 235,000 claims in the [...]

The Mortgage Bankers Association reported that its total Mortgage Applications Volume Index rose 4.5% last week (6.8% y/y) following a 4.1% rise during the prior week. Purchase loan applications strengthened 6.1% (8.7% y/y) following [...]