Economy in Brief

• Increase led by surge in applications for refinancing. • Mortgage interest rates little changed but still near or at record lows. The Mortgage Bankers Association Mortgage Loan Applications Index jumped up 16.7% w/w (57.3% y/y) in [...]

Japan's current economy watchers reading has plunged in December, falling to 35.5 from 45.6 in November. The index had increased monotonically from its April low until November when it slipped and now it has fallen for two months in a [...]

• Number of job openings drops as well. • Level of hiring improves. • Layoffs increase as quits hold steady. The Bureau of Labor Statistics reported that on the last business day of November, the total job openings rate slipped to [...]

• NFIB Small Business Optimism falls to lowest level since May. • Worries surge about economic growth & sales. • Pricing power falls slightly. The National Federation of Independent Business' (NFIB) reported that its Small Business [...]

• Gasoline prices rise to highest since early March 2020. • Crude oil prices increase to highest since late February 2020. • Natural gas prices jump up to eight-week high. The price of regular gasoline rose to $2.32 per gallon (-9.8% [...]

Spain continues to reel under the effects of the coronavirus. Of the various total and sector data in the table, only intermediate goods output is back at its level of February 2020, just before the virus slammed into Europe. Among [...]

• Production gains lift prices. • Commodity price strength remains broad-based. Strength in industrial output is continuing. Industrial production rose during each of the seven months ended November, up 20.5% during that period. At [...]

• Nonrevolving usage picks up. • Credit card balances continue to fall. Consumer credit outstanding increased $15.3 billion during November (0.3% y/y) following a $4.5 billion October rise, revised from $7.2 billion. A $9.0 billion [...]