Economy in Brief: February 2021

• Consumer confidence added to its January improvement. • Current conditions reading gains while expectations weaken. • Job market readings improve. The Conference Board Consumer Confidence Index increased 2.7% (-31.1% y/y) to 91.3 [...]

The EMU headline rose by 0.8% in January, its first year-on-year gain in six months (July 2020). Inflation in the euro area is clearly accelerating with the 12-month pace at 0.8%, the six-month pace at 2% and the three-month pace up [...]

• Gasoline prices jump with refinery shutdowns. • Oil prices surge also as production is cut back. • Natural gas output is notably reduced with deep freeze in South. The price of regular gasoline strengthened to $2.63 per gallon (6.8% [...]

• House prices rose 1.1% m/m, the seventh consecutive monthly increase of 1.0% or more. • Prices were up 11.4% y/y, a series record annual increase dating back to 1991. • For all of 2020, prices rose 7.7% despite the pandemic. The [...]

The German IFO comprehensive business survey saw its all-sector climate index rise to 5.3 in February from -0.3 in January. The current conditions index improved to 6.5 in February from 3.2 in January. Expectations also improved to [...]

• Production improves, employment moderates. • Prices received and prices paid measures both increased. • Expectations reading reaches highest since October 2018. Manufacturing activity in Texas improved in February, according to the [...]

• Leading index gains decelerate. • Breadth of component growth moderates. • Coincident indicators rise is negligibly. The Conference Board's Composite Index of Leading Economic Indicators increased 0.5% (-1.5% y/y) during January [...]

• Index suggests improvement in economic growth. • Production & income remain strong while personal spending rebounds. The Federal Reserve Bank of Chicago's National Activity Index increased to 0.66 during January from December's [...]