Economy in Brief

Japan has not seen a measureable percentage increase in real GDP since Q2 2019. Real GDP fell by 3.4% annualized in Q1 2020. It fell by 7.3% in Q4 2019 and it was flat in percentage terms in Q3 2019. On those numbers, Japan is in [...]

• Housing market remains notably weak. • Few are looking to buy a home. The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo moved up to 37 during May (-43.9% y/y) after collapsing to 30 in [...]

• • • The Empire State Manufacturing Index of General Business Conditions collapsed to -78.2 in April.............. The Empire State figures are diffusion indexes, which are calculated by subtracting the percentage of respondents [...]

• • • • • • PREVIOUS>>>>Industrial production plummeted 5.4% in March......... Industrial production and capacity are included in Haver's USECON database. Additional detail on production and capacity can be found in the IP database. [...]

• Data indicate severe weakness in labor market. • Hiring weakens as job openings start to disappear. • Layoffs surge. Fewer quits suggest workers have no option but to stay put. The Bureau of Labor Statistics reported that the total [...]

Total business inventories fell 0.2% m/m (-0.3% y/y) in March, following a revised 0.3% m/m decline in February. The March result equaled the Informa Global Markets survey forecast. Business sales dropped 5.2% m/m (-4.9% y/y) after a [...]

While the chart shows the hint of GDP weakening ahead of the hit from the coronavirus, the virus clearly was a blow out of the blue. Among the nine early reporting long-standing EMU members, GDP fell everywhere except in Finland where [...]

• • • Total business inventories fell 0.4% m/m (-0.1% y/y) in February.......... Sales at retail stores (excluding sales of food services) fell 0.5% m/m in February ...... The manufacturing and trade data are in Haver's USECON [...]