Economy in Brief: June 2011

Total new home sales in May slipped 2.1% m/m to 319,000 (AR) from a little-revised 326,000 in April. The latest figure beat expectations for 310,000 sales according to Action Economics. The figure is consistent with others suggesting [...]

As soft as economic growth was in Q1, this quarter looks no better. The Chicago Fed reported that its National Activity Index (CFNAI) remained negative at -0.37 in May following a little-revised -0.56 in April. The three-month moving [...]

Initial claims for jobless insurance increased to 429,000 during the June 18th week from 420,000 during the week prior, initially reported as 414,000. The latest compared to Consensus expectations for 415,000 claims. The four-week [...]

As expected, the Federal Open Market Committee today left the Federal funds rate in a "range from 0 to 1/4 percent." The Fed funds rate has remained unchanged since late-2008 at its lowest level ever. The discount rate also was left [...]

The overall French industry index rebounded in April to 109 form 106 bouncing back to its May level. As such it is only one point off the March high of 110 (see chart). On the MFG front (see table) the slowing is more demonstrative. [...]

In a reversal of the recent trend, mass layoffs in the U.S. rose during May and April. The Labor Department reported this morning that layoffs last month of 50 or more persons from a single firm rose 2.2% in May from April after that [...]

Overall mortgage applications fell 5.9% last week. However, since the decline followed a 13.0% increase during the week prior, applications for the month so far have risen 5.3% from May. Applications to refinance a mortgage led that [...]

German institutional investors and analysts have become more cautious regarding economic prospects over the next six months. The ZEW (Center for Economic Research in Mannheim) reported today that its indicator of economic sentiment [...]