Economy in Brief: 2021

• PUA initial claims decline in March 13 week. • Continuing claims in regular state programs extend gradual downtrend. • Insured jobless rate edged back up to 3.0%. Initial claims for unemployment insurance rose 45,000 to 770,000 in [...]

• Headline index jumps to nearly 50-year high. • Underlying strength is widespread. • Prices paid strengthen. The Federal Reserve Bank of Philadelphia's Factory Sector Business Conditions Index jumped to 51.8 during March following [...]

The Federal Reserve left the target for the Fed funds rate in a range of 0.00% to 0.25% at today's meeting of the FOMC. The Fed continued to assert, "The COVID-19 pandemic is causing tremendous human and economic hardship across the [...]

Passenger car registrations in Europe rose by 6.3% m/m in February but only after falling by 28.2% in January. Registration rose in the month in four of the five countries in the table, with France being the exception. This month’s [...]

• Harsh winter weather limits building activity. • Single-family & multi-family starts fall sharply. • Building permits weaken. Housing starts declined 10.3% (-9.3% y/y) during February to 1.421 million (SAAR) from 1.584 million in [...]

• Refinancing applications decline as mortgage interest rates remain elevated. • Purchase applications strengthen further. The Mortgage Bankers Association Mortgage Loan Applications Index declined 2.2% (-27.8% y/y) in the week ended [...]

• Manufacturing output fell 3.1%. Mining down 5.4%. • Widespread declines in durable and nondurable goods manufacturing industries. • Utilities advanced 7.4%. Industrial production fell 2.2% in February (-4.2% y/y). It had advanced [...]

• Housing market activity remains below November high. • Weakness is broad-based regionally. The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo declined 2.4% (13.9% y/y) to 82 during March. [...]