Economy in Brief: July 2017

The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo declined 3.0% to 64 during July following a June fall of 4.3% fall to 66, revised from -2.9%. Despite five m/m declines this year, the index [...]

Import prices declined 0.2% during June (+1.5% y/y) following a 0.1% May dip, revised from -0.3%. The Action Economics Forecast Survey also expected a 0.2% fall. These figures are not seasonally adjusted. Petroleum import prices fell [...]

Inflation in the EMU has flared then flagged as the chart demonstrates. Inflation is currently in a cooling mode as oil prices stopped their push up and have actually reversed to show a multi-month period of softness and ongoing [...]

The Empire State Manufacturing Index of General Business Conditions for July declined ten points from June to 9.8. The figure nevertheless continued to indicate a moderate expansion in factory sector activity. It disappointed [...]

Total business inventories increased 0.3% in May (2.4% y/y), only the second rise in the last seven months. Retail inventories gained 0.5% (3.1% y/y) and more than recouped April's decline. Motor vehicle & parts inventories jumped [...]

The EMU trade surplus rose to 19.7 billion euros in May from 18.6 billion euros in April. That compares to a 12-month average of 20.4 billion euros. The euro surplus has been a political hot potato that Germany is a part of and has [...]

Industrial production increased 0.4% during June (2.0% y/y) following a May 0.1% gain, revised from no change. A 0.3% increase had been expected in the Action Economics Forecast Survey. A 1.6% rise (9.9% y/y) in mining output drove [...]

The Consumer Price Index continued to underperform market expectations in June. The headline index was unchanged from May (+1.6% y/y) against a market expectation (from the Action Economics Forecast Survey) of a 0.1% m/m increase. [...]