Economy in Brief: 2020

French household confidence ticked higher in August to stand at 94.5 compared to 94.1 in July. Confidence had previously risen to 96.3 in June, but it is still below that level. Confidence fluctuated in a range from 102 to 105 from [...]

• Mortgage demand declines for refinancing. • Applications for fixed-rate loans rose greatly from a year ago while demand for adjustable rates fell. The Mortgage Bankers Association Mortgage Applications Index decreased 6.5% in the [...]

• Headline durable goods orders jumped 11.2% in July as transport soared 35.6%. • Excluding transportation orders were up a solid 2.4%, with core capital goods growing 1.9%. • Core capital goods orders are just 0.5% from their [...]

IFO headline The IFO business confidence index (we present data for the diffusion index below) rose for the fourth month in a row. It gained 11.1 points in May, 14.1 points in June, 9.6 points in July and this month it moved higher by [...]

• Deterioration in confidence measures widespread. • Current conditions reverse July improvement. • Younger people see largest decline in confidence. The Conference Board's monthly consumer confidence survey showed another decline in [...]

• New single-family home sales increased 13.9% m/m in July, up 58% from their April low and well above expectations. • Sales fell in the Northeast but rose in the other three regions, notably in the Midwest. • Prices were mixed. Sales [...]

• FHFA home price index increases 0.9% in June after declining 0.2% in May (only COVID-related decrease). • Eight out of nine regions show price gains. The Federal Housing Finance Agency (FHFA) Price Index jumped 0.9% in June, [...]

• Gasoline prices edged up but have been range-bound since late June. • Crude oil prices rose for third consecutive week to highest level since early March. • Natural gas prices jumped up to highest level since November 2019. Regular [...]