Economy in Brief: November 2012

Deflation continues to plague the Japanese economy. In real terms, GDP declined at a seasonally adjusted annual rate of 3.5% in the third quarter. In nominal terms the decline was 3.9%. When the price level declines, real increases in [...]

The housing market continues to improve. The Composite Housing Market Index from the National Association of Home Builders/Wells Fargo increased this month to 46 from 41 in October. The latest figure was the highest since April 2006. [...]

The National Association of Realtors reported that sales of existing homes increased 2.1% during October to a 4.790M annual rate. The gain followed a downwardly revised 2.9% September decline to 4.690M, initially reported as 4.750M. [...]

The Mortgage Bankers Association reported on November 15 that delinquencies on mortgages for 1-4 family homes eased in Q3 to 7.4% of the total mortgages serviced. This ties for the lowest delinquency rate since Q3 2008, when the [...]

Hurricane Sandy added to last month's weakness in industrial output. Industrial production fell 0.4% during October following a 0.2% September increase, last month reported as 0.4%. A 0.2% increase had been expected. Factory output [...]

Despite some sporadic increases in quarterly GDP growth for the various EU and EMU member in the table, what marks this data set most consistently is that over most of the recent quarters all of the counties are experiencing [...]

The Philadelphia Federal Reserve Bank reported that its General Business Conditions Index retraced earlier gains. It declined to -10.7 this month after rising to an unrevised 5.7 during October. The latest was the lowest level since [...]

With the passage of Hurricane Sandy, initial claims for unemployment insurance surged. The Department of Labor indicated that gains in several states caused initial claims for unemployment insurance to jump to 439,000 in the week [...]