Economy in Brief: 2011

The total index of mortgage applications rose another 4.1% last week to 716.4 (March 16, 1990 = 100). Again, the gain was in applications to refinance which rose 8.0% after the prior week's near one-third jump. Applications to [...]

In the financial crisis, the number of UK jobless claimants ran up; the number then went into steady decline. But now, the number is back on the rise, and is rising rather sharply. The BOE MPCs (Spencer Dale and Martin Weale) who once [...]

The U.S. producer price index for finished goods increased 0.2% last month after a 0.4% June decline. The figure compared to Consensus expectations for no change. The change in energy and food prices offset one another. However, [...]

Evidence that the financial turmoil in the United States and Europe is beginning to depress activity, not only in the developed world, but in the emerging economies as well, appears in reports of second quarter GDP. Increasingly these [...]

U.S. industrial production rose 0.9% last month following a 0.4% June gain, revised from 0.2%. The latest increase beat Consensus expectations for a 0.4% increase according to Action Economics. Factory sector output gained 0.7% as [...]

Overall U.S. import prices nudged up 0.3% last month following a little-revised 0.6% June decline. Consensus expectations had been for a 0.1% slip. Year-to-year, the lower value of the U.S. dollar as well higher oil prices have raised [...]

Slack demand and earlier overbuilding continue to pressure new home construction. Housing starts fell 1.5% last month to 604,000 (AR) after a downwardly revised 10.8% June gain, initially reported as 14.6%. Expectations had been for [...]

Although Japanese Gross Domestic Product declined at a seasonally adjusted annual rate of 1.3% in the second quarter, the decline was less than expected. Government expenditures on consumption and investment were positive factors and [...]