Economy in Brief: May 2013

New building activity backpedaled last month following its earlier strength. Total housing starts dropped 16.5% to 853,000 (AR) last month from 1.021M in March, initially reported as 1.036M. Expectations had been for 970,000 starts in [...]

Price inflation remains under control. The consumer price index fell 0.4% (+1.1% y/y) during April, doubling its unrevised March shortfall. Expectations were for a lesser 0.2% decline in the index. Prices excluding food and energy [...]

New home builders breathed easier as construction activity recovered this month. The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo jumped to 44 in May following a downwardly revised April [...]

Activity in the factory sector is weakening. Industrial production fell 0.6% during April following a 0.3% March increase, earlier reported as 0.4%. A 0.1% slip had been expected in the Action Economics survey. Declines in activity [...]

GDP growth in the European monetary union fell by 0.9% quarter-to-quarter expressed at an annual rate. This is a slightly reduced pace of decline compared to the -2.3% annual rate drop registered in the fourth quarter of 2012. Year- [...]

The producer price index for finished goods fell 0.7% last month (+0.7% y/y) and added to an unrevised 0.6% March shortfall. The decline roughly matched expectations for a 0.6% drop. Prices excluding food & energy ticked up an [...]

Industrial sector activity continues to lose forward momentum. The Federal Reserve Bank of New York reported that the Empire State Factory Index of General Business Conditions declined to -1.43 this month from an unrevised 3.05 in [...]

Industrial sector activity continues to lose forward momentum. The Federal Reserve Bank of New York reported that the Empire State Factory Index of General Business Conditions declined to -1.43 this month from an unrevised 3.05 in [...]