Economy in Brief: July 2019

Initial claims for unemployment insurance decreased 10,000 to 206,000 (-5.1% year-on-year) during the week ending July 20th from an unrevised 216,000. Two weeks ago, claims dropped to 208,000, though it included the July 4th holiday [...]

The IFO climate gauge has fallen to its weakest reading since July 2013. On the two ranking columns in the table, we see it has the lowest reading since January 2015, but it has a much less weak if still equivocal reading with a near- [...]

The Federal Reserve Bank of Kansas City indicated that its index of regional manufacturing sector business activity slipped to -1 in July after falling to zero in June. It was the first negative reading since August 2016 and below the [...]

Manufacturers' orders for durable goods retraced the weakness apparent in last month's report. New orders for durable goods rebounded 2.0% (-1.6% y/y) during June following a 2.3% May decline, revised from -1.3%. A 0.8% June gain had [...]

Initial claims for unemployment insurance decreased 10,000 to 206,000 (-5.1% year-on-year) during the week ending July 20 from an unrevised 216,000. Two weeks ago, claims dropped to 208,000, though it included the July 4th holiday [...]

New home sales rebounded 7.0% (4.5% y/y) during June to 646,000 after falling in May to 604,000, revised down from 626,000. Sales in April and March also were revised lower. Sales of 650,000 had been expected in the Action Economics [...]

In manufacturing growth is hanging on by its fingernails or has already lost its purchase to decline. Private sector PMI raw diffusion gauges are below the value of 52 across the board. Ranked on data back to January 2015, the HIGHEST [...]

The Mortgage Bankers Association reported that its total Mortgage Applications Index fell 1.9% (+33.8% y/y) during the week ending July 19, the fourth consecutive weekly decline. The drop reflected a 1.6% shortfall (+6.2% y/y) in [...]