Economy in Brief: July 2004

The Composite Housing Market Index reported by the National Association of Home Builders (NAHB) fell for the second consecutive month in July to 67. June's figure was revised slightly higher. The index remained 3.1% higher than last [...]

Housing starts fell 8.5% last month to the lowest level since May of last year. June starts totaled 1.802Mversus the Consensus expectation for 1.95M. It was the largest m/m drop in starts since February 2003. Single family starts [...]

Housing starts fell 8.5% last month to the lowest level since May of last year. June starts totaled 1.802Mversus the Consensus expectation for 1.95M. It was the largest m/m drop in starts since February 2003. Single family starts [...]

Times of economic transition are often the hardest periods to interpret as they exhibit mixed tendencies. So it was last week that we published here almost contradictory comments about CPI inflation in various countries. In some [...]

Through the end of last week the S&P 500 Index of stock prices muddled along up just 1.4% from yearend levels. Recent weakness, however, follows strong gains through most of 2003. Year to year stock prices are up 11.6%. Gains in stock [...]

The US Treasury today published its array of monthly data on foreign investors' purchases and sales of "long-term" US securities (having maturity greater than one year) for May. Known as the "TIC" data for Treasury International [...]

The Consumer Price Index (CPI-U) rose 0.3% in June versus Consensus expectations for a 0.2% rise. The upside surprise was fueled by a 2.6% gain in energy prices. Seasonally adjusted gasoline prices jumped 3.1%, about double the not [...]

Brazil's retail sales extended a strong recovery in data reported today for May, which showed a third straight month of double-digit year-on-year growth. Furniture and appliances and motor vehicle dealers have participated in the [...]