Economy in Brief

The equity market making a new high before the recession end is unique as it seems to imply a return to economic normalcy fairly quickly. But that optimism will be challenged. The 2020 recession was unique in that it was centered in [...]

U.K. retail sales have rebounded strongly in October, rising by 1.4% after a 1.2% gain in September. Retail sales in the U.K. are higher on all three horizons: 12 months, six months and three months. Over the recent three months, [...]

• Crude oil & metals prices lead the improvement. The Industrial Materials Price Index from the Foundation for International Business and Economic Research (FIBER) increased 3.1% (7.7% y/y) during the last four weeks and 19.4% over [...]

The U.S. Commerce Department reported that during the third quarter of this year, retail sales via the internet (E-Commerce) eased 1.0% (SA) from +31.9% in Q2'20 as coronavirus lockdowns unfolded. Online sales in Q3, nonetheless, [...]

Some people live for hope. Others see hope as an opiate to get through the day. In reality, 'hope' is the quintessential 'four-letter word' because if it is improperly calibrated, it can be used for manipulation. But if it is fairly [...]

• State initial claims climb by 31,000 but maintain recent lower range. • Federal Pandemic Unemployment Assistance claims rise but also maintain low range. • Continuing claims decreased for state and PUA, while PEUC increase. • [...]

• Existing home sales reach highest level since February 2006. • Sales' strength is broad-based across regions. The National Association of Realtors (NAR) reported that sales of existing homes increased 4.3% (26.6% y/y) in October to [...]

• Growth continued though at a slower pace than in October. • Increases in orders, production and employment slowed. • Expectations for six months ahead also ebbed slightly. The Federal Reserve Bank of Kansas City reported that its [...]