Economy in Brief: 2020

• Housing activity continues to recover following coronavirus shutdown. • Building permits hit six-month high. Improved activity in the housing sector continues to lead the economy out of recession. Housing starts strengthened 22.6% [...]

• Gasoline prices unchanged. • Crude oil prices edged up. • Natural gas prices rise to highest level since December 2019. Regular gasoline prices were unchanged at $2.17 per gallon (-16.6% y/y) in the week ended August 17. Prices have [...]

• Housing market activity continues to strengthen. • Number of prospective buyers posts a new record. • Strength is broad-based regionally. The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo [...]

GDP falls for third quarter in a row...it's not just the virus Japan's GDP made its worst fall in 40 years. The Cabinet Office says GDP shrank at an annualized 27.8% from the previous quarter in real terms. It's the worst result since [...]

Economic activity in New York continued to expand in August, but at a rate reduced from July's. The Empire State Manufacturing Index of General Business Conditions declined in August to 3.7 from 17.2. The figures remained up, however, [...]

GDP data still are not in for all counties in Q2. But, for most, the data are in and have undergone some revision and are beginning to stabilize the picture. It is not a pretty one. All the European countries in the table had severe [...]

• Business inventories decline for the sixth consecutive month. • Sales post second straight month of strong increase. • Inventory-to-sales ratio drifts lower. Total business inventories fell 1.1% in June (-5.8% y/y) after declining [...]

• Consumer spending stays strong for third straight month. • Auto sales decline holds back total. The consumer continues to spend, following coronavirus shutdowns in the spring. Total retail sales, including food service [...]