Economy in Brief: 2020

There are at least two views of the ongoing European recovery in production. One is expressed by the chart. It shows a relatively strong V-shaped rebound but one that leaves output still declining on balance in each major sector [...]

• Mortgage applications rose 6.8% in week ending August 7. • A 9.1% increase in refinance applications led the increase. Purchase applications were up 2.0%. • Major mortgage interest rates fell to new lows for the history of the [...]

ZEW expectations have been high for several months. They were last negative in March then swung about 75 points in one month to hold to a positive reading in April. Despite different country and area experiences, the positive readings [...]

• Prices less food & energy rise after three straight monthly declines. • Energy prices are strong while food costs slip. • Core goods prices strengthen; services prices rebound. Pricing power in the industrial sector improved last [...]

• NFIB Small Business Optimism Index declines to 98.8 in July after two monthly gains. • Expectations economy will improve drops 14 percentage points. • Fourth consecutive month of net price reductions. The National Federation of [...]

• Gasoline prices slip marginally. • Crude oil prices improve. • Natural gas prices touch eight-month high. Regular gasoline prices fell to $2.17 per gallon (-17.5% y/y) in the week ended August 10, down one penny from the prior week. [...]

The OECD total amplitude adjusted LEIs are below 100 across the board, a sign that the composite statistics that form the indexes are below their normal values. These readings point to ongoing weak growth although they mark [...]

• Job openings are more numerous. • Hiring expands. • Layoffs are steady while quits rise. The Bureau of Labor Statistics reported that the total job openings rate rose to 4.1% during June, the highest level since February and up from [...]