Economy in Brief: June 2016

The National Activity Index from the Federal Reserve Bank of Chicago declined to -0.51 during May, following one month in positive territory. It suggested below-trend overall economic growth. The three month moving average reinforced [...]

Initial unemployment insurance claims declined to 259,000 (-5.3% y/y) during the week ended June 18 versus an unrevised 277,000 claims in the prior week. The decline was to the lowest level since the end of April. The Action Economics [...]

The Conference Board's Composite Index of Leading Economic Indicators fell 0.2% during May (+1.2% y/y), following an unrevised 0.6% April increase. The decline was the first since January, and disappointed expectations for a 0.2% rise [...]

The chart is clear. The manufacturing sector stepped up in June while services stepped back. The two sectors now have nearly the same raw PMI score, but their queue standings are wide apart. The services sector usually is expanding [...]

Strength in the housing market toned down during May. Sales of new single-family homes declined 6.0% to 551,000 (+8.7% y/y) following a 12.3% increase to 586,000, revised from 619,000. Sales of 563,000 had been expected in the Action [...]

Sales of existing homes increased 1.8% (4.5% y/y) during May to 5.530 million (SAAR) from 5.430 million in April, revised from 5.450 million. The latest level was the highest since February 2007. It surpassed expectations for 5.55 [...]

The U.S. House Price Index, from the Federal Housing Finance Agency (FHFA), improved 0.2% during April following a 0.8% March Increase, revised from 0.7%. It was the weakest monthly rise since August, but left the y/y increase at a [...]

Canadian sales patterns have become confusing. While its nominal patterns look quite upbeat, real sales have slowed and are declining in the current quarter-to-date. Nominal sales are quite mixed with large blocks of sales showing [...]