Economy in Brief: April 2020

U.S. GDP declined 4.8% (SAAR) last quarter following a 2.1% Q4 2019 rise. A 3.8% fall had been expected in the Action Economics Forecast Survey. The decline was the first since Q1'14 and the largest since an 8.4% drop in Q4'08. The [...]

• Pending home sales fell 20.8% in March to its lowest level since May 2011. • Prospective sales declined at double-digit rates in all regions of the country. • Mortgage applications suggest substantial weakness ahead. The National [...]

• Financing rates at or near record lows. • The housing market is weak but may be seeing first signs of springtime revival. The Mortgage Bankers Association reported that its Mortgage Loan Application Index fell 3.3% w/w (+72.2% y/y) [...]

U.S. GDP declined 4.8% (SAAR) last quarter following a 2.1% Q4 2019 rise. A 3.8% fall had been expected in the Action Economics Forecast Survey. The decline was the first since Q1'14 and the largest since an 8.4% drop in Q4'08. The [...]

U.S. GDP declined 4.8% (SAAR) last quarter following a 2.1% Q4 2019 rise. A 3.8% fall had been expected in the Action Economics Forecast Survey. The decline was the first since Q1'14 and the largest since an 8.4% drop in Q4'08. The [...]

U.S. GDP declined 4.8% (SAAR) last quarter following a 2.1% Q4 2019 rise. A 3.8% fall had been expected in the Action Economics Forecast Survey. The decline was the first since Q1'14 and the largest since an 8.4% drop in Q4'08. The [...]

The Federal Reserve left the target for the Fed funds rate in a range of 0.00% to 0.25% at today's meeting of the FOMC. In the Fed's press release, it stated "The Federal Reserve is committed to using its full range of tools to [...]

• Crude oil prices collapsed last week but have rebounded recently. • Gasoline prices fall as drivers shelter at home. • Natural gas prices have been volatile. The spot price of West Texas Intermediate crude oil collapsed to $3.83 [...]