Economy in Brief: March 2020

German business sentiment logged its steepest fall ever recorded since German reunification. The IFO also released analysis saying that the German economy could contract by 20% because of actions taken to prevent the spread of the [...]

The Mortgage Bankers Association reported that its Mortgage Loan Application Index fell 29.4% (+78.6% y/y) during the week ending March 20 after an 8.4% decline in the prior week. The decline occurred as refinancings fell by roughly [...]

Manufacturers' orders for durable goods strengthened 1.2% during February before business ground to a halt in March. Despite the m/m improvement, orders remained down 0.1% y/y. A 1.0% decline had been expected in the Action Economics [...]

The Federal Housing Finance Agency (FHFA) Price Index increased 0.3% m/m in January after an upwardly revised 0.7% m/m gain in December (initially 0.6%). Prices rose 5.2% in January from a year earlier, down from an upwardly revised [...]

• Employment decline weakens wages. • Prices paid fall The Federal Housing Finance Agency (FHFA) Price Index increased 0.3% m/m in January after an upwardly revised 0.7% m/m gain in December (initially 0.6%). Prices rose 5.2% in [...]

The advance estimate of the U.S. trade deficit in goods narrowed to $59.88 billion in February from $65.90 in January. A $63.8 billion deficit had been expected in the Action Economics Forecast Survey. Exports of goods increased 0.6% [...]

Manufacturers' orders for durable goods strengthened 1.2% during February before business ground to a halt in March. Despite the m/m improvement, orders remained down 0.1% y/y. A 1.0% decline had been expected in the Action Economics [...]

Sales of new single-family homes declined 4.4% (+14.3% y/y) during February to 765,000 (AR) from 800,000 in January, revised from 764,000. The Action Economics survey expected sales of 754,000. The median price of a new home rose 6.3% [...]