Economy in Brief: August 2012

New orders for durable goods jumped another 4.2% last month following an unrevised 1.6% June increase. Expectations had been for a 1.5% July rise. Strength continued to center in the transportation sector where orders jumped 14.1% [...]

The good news is that the PMIs for August did not simply continue to decay. The bad news is that there is really not much of a bounce. And that the service sector did continue to decay but by a small amount. By comparison the MFG [...]

New home sales rose 3.6% in July to 372,000 from 359,000 during the prior month, revised from 350,000. The increase surpassed Consensus expectations for 360,000. Sales in the Northeast recovered most of a June plunge while sales in [...]

Initial claims for unemployment insurance rose to 372,000 during the week ended August 18 from 368,000 during the prior week, revised from 366,000. Consensus expectations were for 365,000 claims. The four-week moving average of claims [...]

Initial claims for unemployment insurance rose to 372,000 during the week ended August 18 from 368,000 during the prior week, revised from 366,000. Consensus expectations were for 365,000 claims. The four-week moving average of claims [...]

Sales of existing homes rose 2.3% last month to a 4.470M annual rate last month. That made up roughly half of June's unrevised decline. Expectations were for 4.50M sales. Sales of existing single-family homes alone rose 2.1% to [...]

Japan’s trade trends have remained firmly riveted in place with its goods trade position in deficit for 17 months running and its export and import trends in a clear decelerating phase. Japan is caught between some powerful forces [...]

The Mortgage Bankers Association index of total mortgage applications fell 7.4% last week (+17.5% y/y), the third straight week of sharp decline. Applications have fallen 13.2% from last month's high. Applications to refinance fell [...]