Economy in Brief

German employment growth took the expected hard hit in Q2 as jobs contracted at a 5.3% annual rate quarter-to-quarter. The year-over-year change is a drop of 1.3%. Clearly, the impact of the virus on employment levels has been [...]

The U.S. Commerce Department reported that during the second quarter of this year, retail sales via the internet (E-Commerce) rose 31.8% (SA) from Q1'20. The gain followed increases of 2.4% in Q1 and a 2.2% Q4'19 rise. This strength [...]

• Housing activity continues to recover following coronavirus shutdown. • Building permits hit six-month high. Improved activity in the housing sector continues to lead the economy out of recession. Housing starts strengthened 22.6% [...]

• Gasoline prices unchanged. • Crude oil prices edged up. • Natural gas prices rise to highest level since December 2019. Regular gasoline prices were unchanged at $2.17 per gallon (-16.6% y/y) in the week ended August 17. Prices have [...]

• Housing market activity continues to strengthen. • Number of prospective buyers posts a new record. • Strength is broad-based regionally. The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo [...]

GDP falls for third quarter in a row...it's not just the virus Japan's GDP made its worst fall in 40 years. The Cabinet Office says GDP shrank at an annualized 27.8% from the previous quarter in real terms. It's the worst result since [...]

Economic activity in New York continued to expand in August, but at a rate reduced from July's. The Empire State Manufacturing Index of General Business Conditions declined in August to 3.7 from 17.2. The figures remained up, however, [...]

GDP data still are not in for all counties in Q2. But, for most, the data are in and have undergone some revision and are beginning to stabilize the picture. It is not a pretty one. All the European countries in the table had severe [...]