Economy in Brief: March 2005

For nearly a year, the Federal Open Market Committee has been targeting a higher level for the Fed funds rate. The latest action lifted the rate to 2.75% versus 1.0% in late June of 2004. These actions have been geared to slowing the [...]

For nearly a year, the Federal Open Market Committee has been targeting a higher level for the Fed funds rate. The latest action lifted the rate to 2.75% versus 1.0% in late June of 2004. These actions have been geared to slowing the [...]

Some months ago, we wrote here expressing surprise that India sustains a deficit in merchandise trade. Media coverage might give the impression that it, like China, runs a substantial surplus. But this is not the case, and in fact, [...]

Service sector activity in Japan advanced vigorously in January, according to the report on "Tertiary Industry Activity" published today by the Ministry of Economy, Trade and Industry (METI). The index for all industries rose from [...]

Initial claims for unemployment insurance rose 3,000 to 324,000 last week and the level of claims during the prior two weeks was revised slightly higher. Consensus expectations had been for 315,000 claims. The revisions raised the [...]

Sales of existing single family homes slipped 0.4% in February to 6.79M January. Consensus expectations had been for sales of 6.70M. Improved methodology and better modeling led to monthly revisions back through 1999. The figures [...]

Sales of new single-family homes recovered 9.4% in February to 1.226M after the little revised 8.6% January decline. Consensus estimates had been for sales of 1.150M. The rise in sales last month was led by a 9.9% recovery in the [...]

Durable goods orders rose 0.3% last month following a 1.1% decline in January that was deeper than initially estimated. Consensus expectations had been for a 0.8% gain. Nondefense capital goods orders were about unchanged after an [...]