Economy in Brief

• Manufacturing output fell 3.1%. Mining down 5.4%. • Widespread declines in durable and nondurable goods manufacturing industries. • Utilities advanced 7.4%. Industrial production fell 2.2% in February (-4.2% y/y). It had advanced [...]

• Housing market activity remains below November high. • Weakness is broad-based regionally. The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo declined 2.4% (13.9% y/y) to 82 during March. [...]

The table suggests that the operative word for the ZEW survey this month is 'stronger.' Readings improved in 34 of 35 non-foreign exchange related categories that assess macroeconomic conditions, markets and inflation. In fact, the [...]

• Total business sales jump in January. • Total business inventory-to-sales ratio resumes its downward correction. Total business inventories rose 0.3% during January (-1.8% y/y) following an upwardly revised 0.8% in December (from [...]

• PREVIOUS>>>>>>>>>>Industrial production increased 0.9% m/m (-1.8% y/y) in January. Industrial production and capacity are located in Haver's USECON database. Additional detail on production and capacity can be found in the IP [...]

• Weakness is broad-based. • Decline follows January spending boost from stimulus checks. Total retail sales including food service and drinking establishments declined 3.0% (+6.3% y/y) during February after rising 7.6% in January, [...]

• Import prices rose 1.3% in February with imported fuel prices up 11.1%. • Annual increase in nonfuel import prices highest since January 2012. • Export prices increased 1.6%. Annual increase highest since June 2018. Import prices [...]

• Gasoline prices rise by one-quarter y/y. • Crude oil prices touch 2019 high. • Natural gas prices drop again. The price of regular gasoline strengthened to $2.85 per gallon (26.9% y/y) in the week ended March 15, its highest level [...]