Economy in Brief

The spread of the virus in Franc is still untamed. The incidence of infection is at its highest since mid-November. The trend may still be rising. But France also has one significant positive virus-related event and that is that the [...]

• State initial claims fall but PUA claims climb. • Continuing claims reverse prior week’s increase. • Insured jobless rate revised down a bit; now hovering at 3.5%-3.6%. Initial claims for unemployment insurance fell to 900,000 in [...]

• Total starts reach highest level since September 2006. • Single-family housing starts continue to surge. • Building permits strengthen. Record low interest rates continue to strengthen new home building. Housing starts increased [...]

• Headline index rebounds in January; strongest reading since February 2020. • All sub-indices rise, most notably new orders. • ISM-adjusted index tops 60, highest since May 2018. The Federal Reserve Bank of Philadelphia Factory [...]

Euro area inflation is negative on a year-over-year basis for five months in a row. On a monthly basis, EMU inflation has fallen in only five of the last 12 months, but the balance between the size of the gains vs. the size of the [...]

• Housing market activity weakens again from record high in November. • Activity in each region declines. The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo declined 3.5% m/m (+10.7% y/y) in [...]

• Purchase applications up but overwhelmed by decline in refinancing applications. • Mortgage interest rates generally rose, reflecting rise in most market rates. The Mortgage Bankers Association Mortgage Loan Applications Index fell [...]

• Gasoline prices reach March 2020 high. • Oil prices increase as pandemic shuts down crude oil output. • Natural gas prices continue to rise with seasonal demand. The price of regular gasoline rose to $2.38 per gallon (-6.2% y/y) in [...]