Economy in Brief: February 2013

The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo dipped to 46 this month following two months at 47. Expectations were for a slight increase. Nevertheless, the index level remained up by [...]

Trade balance in the European monetary union widened to 11.9 billion euro from 10.5 billion euro in December. Exports from the Zone fell by 1.9%; the drop is exceeded by a 2.9% drop in imports. The resulting weaker import performance [...]

The University of Michigan's Index of Consumer Sentiment in mid-February rose to 76.3 (1.3% y/y) from 73.8 in January. The figure remained down versus the November high of 82.7 and compared to consensus expectations for 71.5. During [...]

Industrial production slipped 0.1% last month following a 0.4% December rise, initially reported as 0.3%. (Data back through 2011 were revised.) A 0.2% gain had been expected in the Action Economics survey. Colder than normal [...]

The Empire State Factory Index of General Business Conditions moved back into positive territory in February following six consecutive months in the red. The increase to 10.04 compared to an unrevised -7.78 in January and beat [...]

It is now five consecutive quarters of GDP declines in EMU...and counting. The Year-over year drop is now at 0.9%. While the US reported a drop in GDP in Q4 as well it is still stronger than any economy in the table, those are EMU [...]

EMU IP is showing a gain in December of 1%. Month to month. It is still falling over 3-Months and six months and 12-months. But the pace of its decline is slowing. Output in the EMU region is still some 5.2% below its past cycle peak. [...]

The job market is on the road to recovery. Initial claims for unemployment insurance fell to 341,000 (-5.5% y/y) during the week ended February 9 versus a revised 368,000 a week earlier, reported initially as 366,000. Consensus [...]