Economy in Brief: July 2013

The index of Leading Economic Indicators, published by the Conference Board, was unchanged last month (2.8% y/y). The figure followed a 0.2% May uptick, last month reported as 0.1%. A 0.3% rise had been expected for June. A stable 55% [...]

Economic momentum is picking up. The Philadelphia Federal Reserve Bank reported that its General Business Conditions Index for July jumped to 19.8. This figure was the highest level since March 2011 and it followed an unrevised 12.5 [...]

Retail sales in the United Kingdom edged higher by 0.2% in June after surging by 2.1% in May. The May rise more than offsets a 1.3% drop in April. Putting the tangled trail of retail sales together still leads the UK to a 4.1% growth [...]

First time unemployment insurance claims fell to 334,000 (-12.6% y/y) during the week ended July 13 from a revised 358,000 during the week prior, initially reported as 360,000. The decline outpaced expectations for a drop to 340,000. [...]

Mortgage applications continue their swoon. The Mortgage Bankers Association reported that total applications for a home mortgage fell another 2.6% last week (-44.5% y/y). Since early-May applications are down 45.1%. Last week's [...]

Housing starts during June fell 9.9% to 836,000 (+10.4% y/y) and reversed their May improvement to 928,000, initially reported as 914,000. The decline disappointed expectations for improvement to 950,000 starts in the Action Economics [...]

Global factory order trends are not exactly calling out the global fire department to quell the blaze of growth. But the chart above clearly shows that there is a lull in the rate of decline of orders for the US, Germany and even [...]

The expectations index of the ZEW survey backed off to 36.3 in July from 38.5 in June. One year ago the index stood at -19.6. Current index continued to advance rising to 10.6 from 8.6 in June. While markets were mostly unnerved by [...]