Economy in Brief: 2011

The overall French industry index rebounded in April to 109 form 106 bouncing back to its May level. As such it is only one point off the March high of 110 (see chart). On the MFG front (see table) the slowing is more demonstrative. [...]

In a reversal of the recent trend, mass layoffs in the U.S. rose during May and April. The Labor Department reported this morning that layoffs last month of 50 or more persons from a single firm rose 2.2% in May from April after that [...]

Overall mortgage applications fell 5.9% last week. However, since the decline followed a 13.0% increase during the week prior, applications for the month so far have risen 5.3% from May. Applications to refinance a mortgage led that [...]

German institutional investors and analysts have become more cautious regarding economic prospects over the next six months. The ZEW (Center for Economic Research in Mannheim) reported today that its indicator of economic sentiment [...]

The National Association of Realtors reported that forward momentum in the housing market has disappeared. Sales of existing homes during May fell 3.8% to 4.810M from 5.000M in April, revised from 5.050M. The decline followed a 1.8% [...]

Chain store sales fell 0.7% last week following a like decline the week earlier. That left sales so far this month down 1.0% from the May average. During the last ten years there has been a 66% correlation between the y/y change in [...]

Last week, the pump price for regular gasoline fell six cents to $3.65 per gallon. Since last month's peak, prices have fallen 31 cents but remain up one-third versus last year. Pump prices usually start rising this time of year with [...]

Recent evidence suggests that the Japanese recovery from the disastrous March earthquake and tsunami is likely to be slower than originally thought due in large part to the problems at the nuclear plants. Japan's trade balance for [...]