Economy in Brief: 2016

Initial unemployment insurance claims increased to 269,000 (-1.8% y/y) during the week ended July 30 from an unrevised 266,000 in the prior week. Claims remained near the lowest level since 1973. The four-week moving average rose to [...]

The Mortgage Bankers Association reported that its total Mortgage Market Volume Index fell 3.5% (+32.6% y/y) last week following an 11.2% decline. Purchase applications were off 2.4% (+6.0% y/y), down sharply for the third straight [...]

Retail sales volumes show a slight acceleration in play for total euro area sales volumes from 12-months through three-months. The accelerating trend holds for nonfood products as well. The acceleration trend is being bucked by motor [...]

The Composite Index of Nonmanufacturing Sector Business Activity from the Institute for Supply Management (ISM) eased to 55.5 during July after jumping to 56.5 in June. Expectations had been for 56.0 in the Action Economics Forecast [...]

The ADP/Moody's National Employment Report indicated that nonfarm private sector payrolls increased 179,000 (1.9% y/y) during July following a 176,000 June gain, revised from 172,000. So far this year, payrolls rose an average 184,000 [...]

Total sales of light vehicles during July jumped 6.8% versus June (1.7% y/y) to 17.88 million units (SAAR). Sales had declined in four of the prior five months, and the latest level was the highest level since November 2015. [...]

Regular gasoline prices averaged $2.16 per gallon last week (-19.7% y/y), down two cents from the week earlier. Prices were 24 cents lower than early last month, according to the U.S. Department of Energy. Prices were down versus a [...]

PPI inflation is decidedly higher in the EMU. While its gain in June is less than its monthly gain in May, the three-month pace is at 2.7% compared to -2.4% over six months and -3.2% over 12 months. Sector inflation is rising for [...]