Economy in Brief: June 2019

The Mortgage Bankers Association reported that its total Mortgage Applications Index fell 3.4% (+31.6% y/y) during the week ending June 14 after the prior week's 26.8% surge. The decline reflected 3.5% declines in both applications to [...]

U.S. retail gasoline prices continued their recent decline during the week ended June 17, falling six cents to $2.67 per gallon (-7.3% y/y), the sixth straight weekly decline. Haver Analytics calculates factors that adjust for the [...]

The Zew experts' assessments of the global economy have taken a set-back in June. The set-back is broad in nature across countries/regions and across the surveyed gauges that the Zew experts assess. After some stabilization the [...]

Housing starts eased 0.9% (-4.7% y/y) during May to 1.269 million (SAAR) from 1.281 million in April, revised from 1.235 million. Starts in March also were revised up to 1.199 million from 1.168 million. The Action Economics Forecast [...]

The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo fell to 64 during June and reversed most of its May improvement. The index remained below the expansion high of 74 reached in December of [...]

Euro Area labor costs rise faster - Eurozone labor costs increased at a slightly faster pace in the first quarter, Eurostat reported Monday. Hourly labor costs grew 2.4 percent year-on-year, slightly faster than the 2.3 percent [...]

The Empire State Manufacturing Index of General Business Conditions declined sharply to -8.6 during June, the first negative index level since October 2016. The Action Economics Forecast Survey expected a June reading of 10.5. The [...]

The industrial sector exhibited life last month. Industrial production increased 0.4% (2.0% y/y) during May and recouped a 0.4% April decline, revised from -0.5%. Output has declined 0.9% since December. A 0.2% increase had been [...]