Economy in Brief

• Core goods prices surge. • Services prices moderate. • Energy prices jump. Retail pricing power continued to improve last month. The Consumer Price Index increased 0.4% (1.3% y/y) during August following a 0.6% rise in July. The [...]

Europe's September 10 Covid-19 update has France and Italy both 'in the Mix': 4,006,374 cases; the five countries reporting most cases are Russia (1,035,789), Spain (543,379), United Kingdom (355,219), France (344,101) and Italy [...]

• Wholesale inventories drop for third straight month. • Sales continue to surge. • Inventory-to-sales ratio falls with sales' strength. Wholesale inventories worked lower again, falling 0.3% during July (-5.6% y/y) and continuing [...]

• Core pricing power is improved. • Energy & food prices slip. • Services prices remain firm. The Producer Price Index for final demand rose 0.3% (-0.2% y/y) during August following a 0.6% July increase. A 0.2% increase had been [...]

• Seasonally adjusted state initial claims unchanged at 884,000 in the week ending September 5. • Not seasonally adjusted state initial jobless claims rise to 857,148. • Federal Pandemic Unemployment Assistance new filers increased to [...]

Dutch PMI and manufacturing IP are in lock-step Dutch production continued its rebound in July, rising by 1.7% (excluding construction) after a 0.6% gain in June. This two month ‘string’ of increases goes only part way to effect a [...]

• Job openings become more available. • Hiring slows. • Layoffs ease while quits rise. The Bureau of Labor Statistics reported that the total job openings rate rose to 4.5% during July, the highest level since last October and up from [...]

• Applications for both purchase and refinancings increase. • Mortgage rates approach record low. The Mortgage Bankers Association Mortgage Loan Applications Index increased 2.9% (36.3% y/y) in the week ended September 4, following [...]