Economy in Brief

• • • PREVIOUS>>>>>The National Association of Realtors (NAR) reported that sales of existing homes during March declined 8.5% (+0.8% y/y) to 5.270 million (AR) from 5.760 million in February.......... The data on existing home sales, [...]

Inflation in the euro area is low and has been persistently undershooting with very few exceptions since end-2012. Over that span of over seven years, HICP inflation has averaged 1% per year. Over that same period, the core rate has [...]

• Refinancings plummet but purchases surge. • Home buyers lock in low financing rates. The Mortgage Bankers Association reported that its Mortgage Loan Application Index fell 2.6% (+64.0% y/y) last week following negligible increases [...]

The U.S. Commerce Department reported that during the first quarter of this year, retail sales via the internet (E-Commerce) rose 2.4% (SA) from Q4. The gain followed a 2.2% Q4 rise. E-Commerce sales increased a steady 14.8% y/y. This [...]

Stock markets and ZEW experts have something in common but much less in common with the Dr. 'Faucis' and U.S. Democratic Party. ZEW experts see quite brightening expectations and stock markets have been recovering at a very rapid [...]

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• Housing sector continues under pressure due to coronavirus shutdowns. • Starts decline to five-year low. • Falling permits suggest more weakness to come. New residential home building continues to weaken dramatically. Housing starts [...]

• Gasoline prices continue to increase. • Crude oil prices rise to highest level since early-March. • Natural gas prices fall to six-week low. Retail gasoline prices increased to $1.88 per gallon (-34.2% y/y) in the week ended May 18 [...]