Economy in Brief

• Gasoline prices rise to highest level in nearly a year. • Oil prices post first y/y increase since January 2020. • Natural gas prices jump up to highest level since March 2019. The price of regular gasoline increased to $2.46 per [...]

German IP data show several diverse and sometimes opposite trends. The graphic depicts year-on-year growth rates over 12 months and those show conditions that are either steadily improving (intermediate goods) or continuing to show [...]

• Metals prices decline. • Price gains elsewhere continue. The Industrial Materials Price Index, from the Foundation for International Business and Economic Research (FIBER), increased a modest 0.9% during the four weeks ended [...]

• Credit card financing has been falling sharply. • Nonrevolving credit usage is slowing. Consumers continue to strengthen their balance sheets. Consumer credit outstanding rose a seasonally adjusted& $9.7 billion (-0.0% y/y) during [...]

• Service sector remains notably weak. • Earnings growth moderates. • Unemployment rate declines sharply to lowest level since March. Weakness in the labor market persists. Nonfarm payroll employment improved just 49,000 during [...]

German factory orders fell by 1.9% in December, their first monthly drop since April of last year. Of course, orders fell sharply in March and April of last year as the virus struck and struck hard – some places harder than others. [...]

• Trade deficit decreases to $66.6 billion in December. • Exports grow 3.4%; Imports rise 1.5%. • This report suggests net exports will be a larger drag in Q4 than the 1.5 percentage points estimated in last week's GDP report. The [...]

• Service sector remains notably weak. • Earnings growth moderates. • Unemployment rate declines sharply to lowest level since March. Weakness in the labor market persists. Nonfarm payroll employment improved just 49,000 during [...]