Economy in Brief: 2016

Consumer credit outstanding increased $12.3 billion during June following a $17.9 billion May gain, revised from $18.6 billion. The 4.1% m/m increase was the smallest since July 2012. A $15.0 billion increase had been expected in the [...]

The job market remained on firm footing during July. Nonfarm payroll employment grew 255,000 (1.7% y/y) following upwardly revised gains of 292,000 and 24,000 during the prior two months. A 180,000 increase had been expected in the [...]

The U.S. trade deficit in goods and services widened to $44.5 billion in June from a slightly revised $41.0 billion in May. The Action Economics Forecast Survey had expected a $43.1 billion deficit. The latest deficit was the largest [...]

Italian industrial output fell hard for the second month in a row. However, output made a strong 0.8% gain in April. Even so, output is falling at a 5% annual rate in Q2 with declines across all sectors. Italian manufacturing is [...]

The job market remained on firm footing during July. Nonfarm payroll employment grew 255,000 (1.7% y/y) following upwardly revised gains of 292,000 and 24,000 during the prior two months. A 180,000 increase had been expected in the [...]

The U.S. trading day is still unfolding and Europe already has put in a full enough allotment of news and events to fill a week. The BOE shows its colors The long awaited BOE meeting is now out of the way and the BOE has queued up [...]

New orders to manufacturers declined 1.5% (-5.6 y/y) during June following a little-revised 1.2% May fall. A 1.7% decline had been expected in the Action Economics Forecast Survey. Durable goods orders fell 3.9%, the same as in the [...]

The outplacement firm of Challenger, Gray & Christmas reported that job cut announcements during July rose to 45,346 (-57.1% y/y) following June's increase to 38,536. Layoffs increased in the aerospace/defense, commodities, computer, [...]