Economy in Brief: 2016

Initial jobless insurance claims increased to 268,000 (-4.3% y/y) during the week ended June 25 from 258,000 in the prior week, revised from 259,000. The Action Economics Forecast Survey expected 270,000 claims. The four-week moving [...]

The Mortgage Bankers Association reported that its total Mortgage Market Volume Index declined 2.6% last week (+38.7% y/y) and reversed the prior week's rise. Purchase applications fell 3.0% (+12.9% y/y) while refinancing applications [...]

The National Association of Realtors (NAR) reported that pending home sales declined 3.7% (-0.2% y/y) during May following a 3.9% rise in April, revised from 5.1%. These sales are reported as an index with 2001=100. The May value of [...]

The overall EU economic sentiment indicator from the EU Commission ticked higher to 105.7 in June from 105.6 in May. Meanwhile the EMU index edged lower to 104.4 in June from 104.6 in May. Coming attractions... With the U.K. adoption [...]

Personal consumption expenditures increased 0.4% (3.7% y/y) during May following a 1.1% April rise, revised from 1.0%. A 0.3% increase had been expected in the Action Economics Forecast Survey. So far this year, spending has risen at [...]

Regular gasoline prices declined to $2.33 per gallon last week (-16.9% y/y), down from $2.40 two weeks ago, according to the U.S. Department of Energy. Nevertheless, prices remained near the highest level since early September. Prices [...]

The Conference Board's Consumer Confidence Index increased 6.1% during June to 98.0 (-1.8% y/y) from 92.4, revised from 92.6. The latest figure was the highest since October and beat expectations for 93.0 in the Action Economics [...]

Economic growth during the first quarter was revised up slightly. GDP grew 1.1% (SAAR, 2.1% y/y) following a 0.8% rise estimated last month, and 0.5% in the advance estimate. Despite the revisions, growth last quarter was the weakest [...]