Economy in Brief

• Initial claims lower than forecast. • Continuing claims did rise slightly; jobless rate edges upward. • Claims for PUA and PEUC benefits both decreased. Initial claims for unemployment insurance dropped by 193,000 in the week ended [...]

• Total business sales fell back in February after jump in January. • Total inventories continued to rise. • Total business inventory-to-sales ratio rose in February after outsized fall in January. Total business inventories rose 0.5% [...]

• Strength is broad-based as consumers venture into stores. • Durable goods are notably firm. • Earlier months' data were little-revised. Improved weather, a strong employment gain, $1,400 stimulus checks and store re-openings [...]

• IP rose 1.4% m/m with manufacturing output up 2.7% and mining up 5.7%. • Utilities plunged 11.4% after the cold-weather boosted 9.2% surge in February. • In the first quarter, IP rose 2.5% saar. Industrial production rebounded in [...]

• Strong gains are reported for all components. • Prices paid and prices received surged in April. The Empire State Manufacturing Index of General Business Conditions jumped 9 points to 26.3, up from 17.4 in March, and well surpassing [...]

• Import costs are unexpectedly strong. • Export price gain picks up. Import prices increased 1.2% (6.9% y/y) during March following a little-revised 1.3% February rise. A 0.9% increase had been expected in the Action Economics [...]

Industrial production fell by 1% in February in the euro area. Consumer goods output ticked higher while the output of capital goods and intermediate goods fell. Of the 12 early-reporting EMU countries listed in the table, seven [...]

• Import costs are unexpectedly strong. • Export price gain picks up. Import prices increased 1.2% (6.9% y/y) during March following a 1.3% February rise. A 0.9% increase had been expected in the Action Economics Forecast Survey. [...]