Economy in Brief: April 2016

The Conference Board's Index of Leading Economic Indicators increased 0.2% during March (2.2% y/y), following declines in each of the prior three months. February's 0.1% shortfall was revised from a 0.1% gain. The latest improvement [...]

The U.S. House Price Index from the Federal Housing Finance Agency (FHFA) during February increased 0.4% (5.6% y/y) for a second consecutive month. Prices were strongest y/y in the Pacific region (8.4% y/y) and amongst the Mountain [...]

Initial unemployment insurance claims fell to 247,000 during the week ended April 16 from an unrevised 253,000 in the prior week. For the past year, claims have been near the lowest level since 1973. Expectations were for 264,000 [...]

Sales of existing homes increased 5.1% (1.5% y/y) to 5.330 million (SAAR) during March from 5.070 million in February, revised from 5.080 million. The gain followed February's 7.3% decline and extended a pattern of volatile sideways [...]

As we look at the weakest year-on-year German PPI drop since January 2010 -over six years ago- we are now deeper into a recovery and price conditions are worsening. There is some sort of lesson there. I am reminded of Gilda Radner's [...]

The Mortgage Bankers Association reported that its total Mortgage Market Volume Index increased 1.3% last week (14.9% y/y) to the firmest level since early-February. Refinancing applications increased 2.6% (13.4% y/y). Purchase [...]

Regular gasoline prices increased to $2.14 per gallon last week (-14.0% y/y) versus $2.07 in the prior week, according to the U.S. Department of Energy. The price compares to a low of $1.72 in February, but remained down from a 2014 [...]

Housing starts fell 8.8% (+14.2% y/y) during March to 1.089 million units (AR) from 1.194 million in February, revised from 1.178 million. It was the lowest level of starts since October. Expectations were for 1.89 million starts in [...]