Economy in Brief

• Initial state claims fall to yet another pandemic low. • State claims approaching range in which they have fluctuated during more normal times. • PUA claims also fell. Initial claims for unemployment insurance fell 38,000 in the [...]

Household confidence rose in May; the services and manufacturing sectors generally improved by more on the month. Household confidence has climbed back up above its median value since the year 2000 with a ranking in its 53.7 [...]

• Firm economic growth lowers jobless rate. • Growth improvement spreads across sectors. • Inflation and market interest rate forecasts are raised. The National Association for Business Economics raised its 2022 real GDP forecast to [...]

• Confidence holds at fourteen-month high. • Improvement in current conditions contrasts with lower expectations. • Job market indexes continue to firm. Consumer confidence remains strong. The Conference Board Consumer Confidence [...]

• Sales decline reverses March increase. • Declines occur throughout most of country. • Median home prices near-record high. Sales of new single-family homes declined 5.9% (+48.3% y/y) during April to 863,000 units (SAAR) following a [...]

• House prices climbed 1.4% in March; February was revised up slightly. • Year-to-year move 13.9%; new high but up from low base. • All regions have participated in yearly double-digit advances. The Federal Housing Finance Agency [...]

• Gasoline prices edge lower w/w, but remain elevated this year. • Crude oil prices decline to three-week low. • Natural gas prices ease. Retail gasoline prices eased to $3.02 per gallon (+54.1% y/y) in the week ended May 24 from [...]

• Overall activity abates after recovery from weather-related setbacks. • Three of four components, however, indicate positive growth. The Federal Reserve Bank of Chicago's National Activity Index fell to 0.24 in April from an [...]