Economy in Brief: 2012

The producer price index for finished goods fell 0.8% last month after an unrevised 0.2% October drop. The latest decline contrasted with expectations for a 0.5% drop. Prices excluding food & energy ticked up 0.1% versus expectations [...]

Initial claims for jobless insurance fell further last week with the passage of Hurricane Sandy. Claims dropped during the week ended December 8 to 343,000 from 372,000 in the prior period, initially reported as 370,000. Consensus [...]

Total retail sales recovered 0.3% last month following an unrevised 0.3% October decline. A 0.4% rise November sales had been expected according to Action Economics. Retail sales were unchanged excluding autos, as expected, for the [...]

As expected, the Federal Open Market Committee today left the Federal funds rate in a "range from 0 to 1/4 percent". The Fed funds rate has remained unchanged since late-2008 at its lowest level ever. The discount rate also was left [...]

The Mortgage Bankers Association index of total mortgage applications jumped 6.2% last week (37.5% y/y) after a 4.5% rise during the prior week. The rise was paced by an 8.0% surge (46.7% y/y) in applications to refinance an existing [...]

The pump price for a gallon of regular gasoline declined four cents last week (+1.9% y/y) to $3.35 per gallon. Since their September peak, prices have fallen fifty three cents per gallon. The norm for this time of year of less driving [...]

Declines in petroleum prices lowered overall U.S. import costs by 0.9% last month and by 1.6% y/y. That followed a 0.3% October rise, initially reported as 1.5%. The Action Economics survey looked for a 0.5% fall. Petroleum prices led [...]

The 278 German financial experts participating in the latest ZEW survey, which took place from November 26th to December 10th, were more optimistic than they were last month. While they appraised the current situation only a bit more [...]