Economy in Brief: 2019

The Mortgage Bankers Association reported that its total Mortgage Applications Index rose 5.3% (46.5% y/y) during the week ending August 2 following five consecutive weeks of decline. Applications to refinance a loan firmed 11.8% and [...]

Individuals pared back their borrowing needs in June, but it remains strong. Consumer credit outstanding increased $14.58 billion (5.1% y/y) after rising $17.81 billion in May, revised from $17.10 billion. It was the smallest increase [...]

In June, German manufacturing output declined on all fronts. Consumer goods output declined. Intermediate goods output declined. The output of capital goods declined. It makes you nostalgic for the good only days, like yesterday, when [...]

The National Association of Realtors reported that its Fixed Rate Mortgage Housing Affordability Index improved 1.3% to 151.9 during June (10.3% y/y) after falling 1.6% in May. Despite the increase, affordability remained 28.8% below [...]

The Mortgage Bankers Association reported that its total Mortgage Applications Index rose 5.3% (46.5% y/y) during the week ending August 2 following five consecutive weeks of decline. Applications to refinance a loan firmed 11.8% and [...]

German orders jumped for joy in June, tempering a period of order weakness and declines. The rise is all on the back of 'foreign orders' that spurted by 5% one month after a 3.9% decline. That fact may temper any enthusiasm by itself. [...]

The Bureau of Labor Statistics reported that the total job openings rate eased to 4.6% during June from 4.7% in May, revised from 4.6%. It remained below the 4.8% record logged early this year. The job openings rate is the job [...]

The pump price for a gallon of regular gasoline in the U.S. declined to $2.69 (-5.8% y/y) last week, the lowest price in six weeks. Haver Analytics calculates a series which is adjusted for the seasonal variation in gasoline pump [...]