Economy in Brief

• Job gains held back as coronavirus spreads. • Earnings growth picks up. • Jobless rate declines to eight-month low. The rate of labor market improvement has slowed following an initial bounce-back from recession declines. Nonfarm [...]

• Trade Deficit increases to $63.1 billion in October. • Exports grow 2.2%; Imports rise 2.1%. • Exports remain 13.2% below February level; imports down just 0.6%. The U.S. trade deficit in goods and services widened to $63.1 billion [...]

When the virus goes viral Once again anti-virus policies have hammered the global economy. China is the only exception. The ranking column is the starkest reminder of how the service sector is pressured. Only China where the virus [...]

• Service sector activity weakened to six-month low. • Component activity remained mixed. • Pricing power strengthened. The Composite Index of Services Activity from the Institute for Supply Management eased to 55.9 during November [...]

• State initial claims at lowest level in three weeks. • Continuing claims fall to lowest level since late-March. • Pandemic unemployment assistance remains down from earlier highs. • Insured unemployment rate continues downtrend. [...]

• Mortgage applications to purchase homes rose sharply. • Average size of loans to purchase reaches another record high. • Fixed mortgage rates fall to still another all-time lows. The Mortgage Bankers Association Mortgage Loan [...]

The number of unemployed in the EMU continues to fall and this month that drop was enough to move the rate of unemployment lower as well. The EMU-wide unemployment rate fell to 8.4% in October from 8.5% in September. The EMU [...]

• Job gain disappoints expectations. • Service-sector weakening is pronounced. The ADP National Employment Report indicated that nonfarm private sector payrolls increased 307,000 (-7.1% y/y) during November following a 404,000 October [...]