Economy in Brief

• A decline in income more than offsets lower principal & interest payments. • October's slip in affordability follows upward revisions to earlier data. The National Association of Realtors reported that its Fixed Rate Mortgage [...]

• Food & energy prices are firm again. • Core goods prices rise moderately. • Service prices hold steady. The Producer Price Index for final demand rose 0.1% (0.8% y/y) during November following a 0.3% October gain. It was the [...]

• Total borrowing in U.S. economy = 13.6% of GDP in Q3, down sharply from 66.7% • Government sector borrowing less in Q3 but still quite sizable. • Household borrowing increases with low mortgage rates. After the massive amount of [...]

• Reduction due to calendar shifts. • Revenue decline led by a drop in personal tax receipts. • Outlay surge driven by higher unemployment benefit payments. The U.S. Treasury Department reported that the federal budget deficit [...]

French manufacturing IP rose by 0.5% in October after a 2.3% gain in September. IP is up at a 48.4% annual rate over three months, at a 129.7% annual rate over six months and yet still lower by 5.7% over 12 months. Such has been the [...]

• 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% [...]

• 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% [...]