Economy in Brief: December 2006

In a complete reversal of the prior week's gain, the total number of mortgage applications fell 10.2% last week after the 11.5% jump during the prior period, according to the Mortgage Bankers Association. Purchase applications fell [...]

In a complete reversal of the prior week's gain, the total number of mortgage applications fell 10.2% last week after the 11.5% jump during the prior period, according to the Mortgage Bankers Association. Purchase applications fell [...]

Italian industrial sales in October increased 1.19% from September and were up 9.88% from October 2005. While foreign industrial sales dipped almost 1%, domestic sales increased 2%. A somewhat more subdued picture is shown by orders. [...]

Pump prices for regular unleaded gasoline rose three cents last week to an average $2.32 per gallon. That left this month's average price for gasoline up seven cents from the November average of $2.23. The spot market (NY harbor) [...]

According to the International Council of Shopping Centers (ICSC)-UBS, chain store sales last week rose again by 1.6% after the prior period's 1.0% gain. Despite these increases which recovered about all of a collapse in sales which [...]

The Composite Housing Market Index from the National Association of Home Builders' (NAHB) slipped in December to 32 and gave back half of last month's improvement. The index, therefore, remained down 5.9% in the fourth quarter versus [...]

The producer price index for finished goods surged 2.0% last month and far surpassed Consensus expectations for a 0.6% rise. It was the largest one month increase since 1974 and reflected higher energy & nonenergy prices. The core PPI [...]

November housing starts recovered less than half of the previous month's little revised decline with a 6.7% increase. The gain to 1.588M was slightly better than Consensus expectations for a rise to 1.54M starts. The year-to-date [...]