Economy in Brief

• Mortgage applications rebound following two weeks of decline. • Applications for both purchase and refinancing post marked increases. • Fixed mortgage rates fall to new all-time lows. The Mortgage Bankers Association Mortgage Loan [...]

With a third wave of infection coursing its way through Japan's economy, the labor market continues to make some progress. Japan's infections peaked in April, August, and now, again, in November. The new case count has soared to an [...]

The IFO climate index rose to a net value of 1.2 in November from 1.1 in October as current conditions weakened to a net of 5.1 form 5.9 and expectations weakened sharply to -8.1 from -1.4. As the virus impacts Germany, the current [...]

• Confidence declines significantly, both m/m and y/y. • View of present conditions eases, but expectations collapse. • Older individuals grow more pessimistic. The Conference Board's consumer confidence survey indicated widespread [...]

• Home price gain sets record for second straight month. • Prices strengthen across the country. The Federal Housing Finance Agency (FHFA) House Price Index jumped 1.7% during September following an unrevised 1.5% August increase. The [...]

• Crude oil price increased. • Natural gas price tumbled. • Gasoline price little changed. The price for a barrel of West Texas Intermediate crude oil increased to an average of $41.62 (-27.0% y/y) in the week ended November 20 from [...]

The European/U.S. Divide It can be lost on no one that economies in Europe, the U.K., and even Japan are being beaten back by the Covid-19 virus and actions to contain it, while the U.S. seems to skate by unscathed. Ranked against the [...]

• Index suggests a pickup in economic growth. • Component performance remains mixed. The Federal Reserve Bank of Chicago's National Activity Index rebounded to 0.83 during October after easing to 0.32 in September, revised from 0.27. [...]