Economy in Brief

• State and Federal Pandemic Unemployment Assistance initial claims return to September levels. • Continuing claims increase for state, while PUA and PEUC decline. • Absent action, 13.1 million PUA and PEUC claimants will lose their [...]

• Retail price inflation remains under control. • Goods prices continue to firm y/y. • Service price inflation is decelerating. The Consumer Price Index rose 0.2% (1.2% y/y) during November following no change in October. A 0.1% [...]

• The number of job openings strengthened. • Hiring falters. • Layoffs increase as quits hold steady. The Bureau of Labor Statistics reported that on the last business day of October, the total job openings rate improved to 4.5% from [...]

• Inventories increased 1.1%, while sales jumped 1.8% in October. • Wholesale inventory-to-sales ratio edged down to 1.31. Wholesale inventories grew a greater-than-expected 1.1% in October (-2.2% year-over-year). The Informa Global [...]

The chart, presenting the year-on-year trade flow percent changes and the monthly trade balance, offers a good perspective on the forces and timing of events affecting the German trade situation. The surplus reached its low point in [...]

• Mortgage rates decline to another record low. • Refinancing applications rise moderately. The Mortgage Bankers Association Mortgage Loan Applications Index declined 1.2% in the week ended December 4 (+59.4% y/y) and added to the [...]

The economic situation in December is assessed as mixed by the ZEW experts with two regions (the EMU and France) deemed stronger and the rest weaker. Economic expectations are firmer across the board, however. Inflation is seen as [...]

• Growth in output per hour remains firm for second straight quarter. • Unit labor cost decline is lessened. Nonfarm business sector productivity increased 4.6% (SAAR) during Q3'20, revised from 4.9%, during Q3'20 following a 10.6% Q2 [...]