Economy in Brief: November 2020

• Crude oil price increased. • Natural gas price tumbled. • Gasoline price little changed. The price for a barrel of West Texas Intermediate crude oil increased to an average of $41.62 (-27.0% y/y) in the week ended November 20 from [...]

The European/U.S. Divide It can be lost on no one that economies in Europe, the U.K., and even Japan are being beaten back by the Covid-19 virus and actions to contain it, while the U.S. seems to skate by unscathed. Ranked against the [...]

• Index suggests a pickup in economic growth. • Component performance remains mixed. The Federal Reserve Bank of Chicago's National Activity Index rebounded to 0.83 during October after easing to 0.32 in September, revised from 0.27. [...]

The equity market making a new high before the recession end is unique as it seems to imply a return to economic normalcy fairly quickly. But that optimism will be challenged. The 2020 recession was unique in that it was centered in [...]

U.K. retail sales have rebounded strongly in October, rising by 1.4% after a 1.2% gain in September. Retail sales in the U.K. are higher on all three horizons: 12 months, six months and three months. Over the recent three months, [...]

• Crude oil & metals prices lead the improvement. The Industrial Materials Price Index from the Foundation for International Business and Economic Research (FIBER) increased 3.1% (7.7% y/y) during the last four weeks and 19.4% over [...]

The U.S. Commerce Department reported that during the third quarter of this year, retail sales via the internet (E-Commerce) eased 1.0% (SA) from +31.9% in Q2'20 as coronavirus lockdowns unfolded. Online sales in Q3, nonetheless, [...]

Some people live for hope. Others see hope as an opiate to get through the day. In reality, 'hope' is the quintessential 'four-letter word' because if it is improperly calibrated, it can be used for manipulation. But if it is fairly [...]