Economy in Brief: December 2017

Total housing starts rose 3.3% (12.1% y/y) during November to 1.297 million units (SAAR) from 1.256 million in October, revised from 1.290 million. The latest level was the highest since October 2016. A level of 1.250 million starts [...]

Central banks have fallen into particular groups according to the environment in which they make policy. The European Central Bank and the Federal Reserve are in one group. That group faces ongoing and perhaps accelerating economic [...]

The housing market remains in good shape. The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo increased 7.2% to 74 during December, the highest level since July 1999, up 7.2% y/y. Expectations [...]

The Empire State Manufacturing Index of General Business Conditions in December fell to 18.0 following an unrevised decline to 19.4 during November. The latest level was the lowest since July, but continued to indicate expansion in [...]

The Federal Reserve indicated that industrial production rose 0.2% during November (3.4% y/y) following a 1.2% October rise, revised from 0.9%. A 0.3% increase had been expected in the Action Economics Forecast Survey. The Fed [...]

The bellwether in Japan's Tankan report is the performance of large manufacturing firms. Japan's large manufacturers pushed the outer edge of the envelope to score the second highest reading since the quarterly survey began in 2003 [...]

Import prices rose increased 0.7% in November (3.1% y/y) following a 0.1% October uptick, revised from 0.2% reported initially. The latest gain matched expectations in the Action Economics Forecast Survey. These figures are not [...]

Total business inventories decreased 0.1% in October (3.5% y/y) after being basically flat in September; the September total was revised downward ever so slightly from its initial report. Total sales at retailers, wholesalers and [...]