Economy in Brief: 2020

• Initial claims for state unemployment benefits fall to four-month low. • Continuing claims for state programs also ease. • Insured unemployment rate declines to four-month low. Initial claims for unemployment insurance declined to [...]

• Service sector activity is at highest level since February 2019. • Component activity is mixed. • Pricing power improves. The Composite Index of Nonmanufacturing Business Activity from the Institute for Supply Management increased [...]

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• Service sector activity is at highest level since February 2019. • Component activity is mixed. • Pricing power improves. The Composite Index of Services Activity from the Institute for Supply Management increased to 58.1 during [...]

• Trade Deficit declines to $50.7 billion in June. • Exports rebound 9.4%; Imports rise 4.7%. • Exports remain 25.3% below February level; imports down 15.2%. The U.S. trade deficit in goods and services narrowed to $50.7 billion in [...]

• Employment slowdown is broad-based last month. • Earlier figures were revised significantly higher. Job market improvement was notably diminished during July. The ADP National Employment Report indicated that nonfarm private [...]

• Mortgage applications decreased 5.1% in week ending July 31. • Purchase applications off 7.5% from beginning of July, while refinance applications up 9.3%. • 15-year fixed rate mortgage interest rate edged down to 2.83%; 30-year [...]

Global growth is weak; unemployment globally has been rising from its previous cycle lows. There is slack in the global economy that is paired with ongoing weak growth. Although there is a great deal of fiscal and monetary stimulus [...]