Economy in Brief: January 2021

• Existing home sales rebound 72.9% since May low. • Inventory of unsold homes continues to fall sharply. • Sales are mixed m/m across regions. The National Association of Realtors (NAR) reported that sales of existing homes rose 0.7% [...]

• • • PREVIOUS>>>>The Federal Reserve Bank of Philadelphia reported that its General Factory Sector Business Conditions Index has fallen to 11.1 in December from 26.3 in November. The survey panel consists of 150 manufacturing [...]

The spread of the virus in Franc is still untamed. The incidence of infection is at its highest since mid-November. The trend may still be rising. But France also has one significant positive virus-related event and that is that the [...]

• State initial claims fall but PUA claims climb. • Continuing claims reverse prior week’s increase. • Insured jobless rate revised down a bit; now hovering at 3.5%-3.6%. Initial claims for unemployment insurance fell to 900,000 in [...]

• Total starts reach highest level since September 2006. • Single-family housing starts continue to surge. • Building permits strengthen. Record low interest rates continue to strengthen new home building. Housing starts increased [...]

• Headline index rebounds in January; strongest reading since February 2020. • All sub-indices rise, most notably new orders. • ISM-adjusted index tops 60, highest since May 2018. The Federal Reserve Bank of Philadelphia Factory [...]

Euro area inflation is negative on a year-over-year basis for five months in a row. On a monthly basis, EMU inflation has fallen in only five of the last 12 months, but the balance between the size of the gains vs. the size of the [...]

• Housing market activity weakens again from record high in November. • Activity in each region declines. The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo declined 3.5% m/m (+10.7% y/y) in [...]