Economy in Brief

• Gasoline prices ease minimally from seven-year high. • Crude oil prices add to recent gains. • Natural gas prices continue strengthening. Retail gasoline prices slipped to $3.06 per gallon (+43.7% y/y) in the week ended June 21 from [...]

• Overall activity reading suggests moderate economic growth. • Three of four components are positive. The Federal Reserve Bank of Chicago's National Activity Index increased to 0.29 during May from -0.09 in April, revised from 0.24. [...]

The step-back that refreshes U.K. retail sales fell by 0.8% in May but only after some really explosive gains in March and April as the U.K. economy began to lift restrictions. The chart shows the surge in retail spending. The ‘news’ [...]

• Mortgage payments jump with higher home prices. • Incomes decline after government stimulus payouts in March. • Interest rates ease. The National Association of Realtors' Fixed Rate Mortgage Housing Affordability Index declined [...]

The data and the statistics in the table may not be so clear. But this month the plot of vehicle registrations in their raw form - not as percentage changes- shows exactly what is going on. The answer is that 'less and less' is what's [...]

• Component improvement in leader's index remains broad-based. • Coincident indicators continue to firm. • Lagging indicators' decline suggests more economic slack. The Conference Board's Composite Index of Leading Economic Indicators [...]

• Increase in initial state claims is first since late-April. • Continuing state claims are roughly steady at pandemic low. • PUA claims continue to decline. Initial claims for unemployment insurance increased 37,000 during the week [...]

• Headline index off recent highs but still quite elevated. • Shipments rose though new orders moderated. • Prices paid increased to highest since 1979. • Hiring plans for next six months rose to near-record high. The Federal Reserve [...]