Economy in Brief: May 2014

The flash PMI for the euro area ticked down to 53.9 in May from 54.0 in April. The services reading rose to 53.5 from 53.1 while the manufacturing reading slipped to 52.5 from 53.4. From mid-2011, the May composite reading is the [...]

The first quarter's economic stagnancy looks to have been a hiccup, according the Index of Leading Economic Indicators. The Conference Board reported that the index advanced 0.4% last month, the third month of firm increase following [...]

The worst of the winter's harsh weather effect on housing may have passed, but there's little buoyancy in its wake. Sales of existing single-family homes in April gained 1.3% (-6.8% y/y) to 4.650 million (AR) versus an unrevised 4.590 [...]

The Chicago Federal Reserve reported that its National Activity Index (CFNAI) backpedaled to -0.32 last month from 0.34 during March, revised from 0.20. The latest reading was the weakest since January and remained down versus [...]

Jobless insurance claims increased week-to-week but continued to trend lower. Initial unemployment insurance claims rebounded to 326,000 (-5.2% y/y) during the week ended May 17 from 298,000 during the week prior, revised from [...]

European Union member trade trends have shifted from their past trends early in 2014. The exports of Finland, Portugal, France and Germany have turned lower after showing signs that the growth rate of exports may have bottomed in [...]

The Mortgage Bankers Association reported that their total Mortgage Market Volume Index nudged 0.9% higher last week (-53.7% y/y) following firm gains during the prior two weeks. Applications remained two-thirds below the peak in [...]

Inflation in the United Kingdom is finally starting to settle down. The harmonized price index for April rose 0.2% after a 0.1% increase in March. The three-month inflation rate is 1.7% at an annual rate compared to 1.5% over six- [...]