Economy in Brief: July 2020

• Prices fall throughout the country. • Notable declines are logged in several areas. The Federal Housing Finance Agency (FHFA) House Price Index fell 0.3% (+4.9% y/y) during May following a 0.1% April rise, revised from 0.2%. During [...]

Japan's composite PMI moved higher in July but still stopped short of the key 50 mark that represents output neutrality. While the composite index is up in July at 43.9 from 40.8 in June, the index still points to private sector [...]

• Mortgage applications rose for the third consecutive week with both purchase and refinancing applications up. • The 15-year fixed rate mortgage rate edged up slight after having been falling to a record low in the previous week. The [...]

Japan's inflation continues to be moderate. The June result brought the first month-to-month gain in the headline since December. The first five months of the year produced inflation headlines that were either unchanged or lower [...]

• Data suggest recession is ending. • Production & income rise while employment holds fairly steady. The Federal Reserve Bank of Chicago reported that the National Activity Index (CFNAI) increased to 4.11 during June from 3.50 in May, [...]

• Gasoline prices slip. • Crude oil prices rise slightly. • Natural gas prices ease. The price for regular gasoline slipped to $2.19 per gallon (-20.5% y/y) in the week ended July 20 from $2.20 in the previous week. Prices remained [...]

• Prices continue to increase across sectors. • Crude oil prices are strengthening. • Metals rise while lumber prices soar. Improved activity in the factory sector continues to bolster industrial materials prices. A 7.2% jump in June [...]

Japan's trade deficit lingers as trade flows continue to implode and fall at ever faster rates over shorter horizons- from 12-months to six-months to three-months. In June, exports logged only their fourth increase in the last 14 [...]