Economy in Brief: May 2019

The Conference Board reported that its Consumer Confidence Index increased 3.8% (4.1% y/y) to 134.1 during May. The gain repeated its April improvement to an unrevised 129.2 and exceeded expectations for an increase to 130.0 in the [...]

The Federal Reserve Bank of Dallas reported in its Texas Manufacturing Outlook Survey that the General Business Activity Index declined to -5.3 in May from 2.0 in April. This is the third consecutive monthly decline and the lowest [...]

With waning strength in housing starts and home sales, pricing power in the housing market has moderated. The Federal Housing Finance Agency (FHFA) Price Index for house purchases rose 0.1% in March following a 0.4% gain during [...]

Factory sector activity continued to weaken last month. New orders for durable goods fell 2.1% during April and were unchanged y/y. A 1.7% rise in orders during March was revised from a 2.7% gain reported initially. Expectations in [...]

The Federal Reserve Bank of Kansas City indicated that its index of regional manufacturing sector business activity eased to four in May from five in April. These figures were below the high of 26 reached last May. The ISM-Adjusted [...]

The EMU PMI remains weak in May at 51.6, but it is a few ticks higher than its value in April. Its May value is just a tick below its three-month average, at its six-month average and below its 12-month average which does not speak [...]

New home sales declined 6.9% (+7.0% y/y) during April to 673,000 (SAAR) from 723,000 in March, revised from 692,000. Despite the decline, sales were 20.8% higher than the recent low in October. Sales of 671,000 had been expected in [...]

The labor market remains on a firm footing. Initial claims for unemployment insurance eased 1,000 to 211,000 (-7.6% y/y) during the week ended May 18 from an unrevised 212,000 in the previous week. The Action Economics Forecast Survey [...]