Economy in Brief: 2016

For a third month, the Federal Reserve Bank of Philadelphia reported that its Index of Nonmanufacturing Sector Activity at the company level was fairly steady. The index level of 17.6 compared to 18.2 in May and 17.8 in April, each [...]

Japan is getting a boost to growth through its external sector. Its trade surplus is growing. But the boost is not the type we like to see. Japan's exports are falling year-over-year, but since imports are falling by more the trade [...]

The Commodity Research Bureau reported that its Index of Spot Commodity Prices has been moving up. The 1.2% gain during the last four weeks added to earlier increases to lift prices during the last 6 months by 11.1%. Strength in the [...]

Inflation globally is low. In the EMU, the price level is falling. Japan's inflation is weak. In the U.S., the CPI is up only 1.1% although the U.S. targets the PCE deflator which shows a much weaker core trend than the CPI. In [...]

Housing starts fell 0.3% during May to 1.164 million units (SAAR) following a 4.9% April rise to 1.167 million units, revised from 1.172 million. Expectations were for 1.150 million starts in the Action Economics Forecast Survey. [...]

The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo rose to 60 during June, the highest level since January. Nevertheless, it remained down from the October peak of 65. The NAHB figures are [...]

Initial unemployment insurance claims rose to 277,000 (3.1% y/y) during the week ended June 11 versus an unrevised 264,000 claims in the prior week. It was the first w/w increase since the first week of May. The Action Economics [...]

The Philadelphia Federal Reserve reported that its General Factory Sector Business Conditions Index improved in June to 4.7 from an unrevised -1.8 in May. Despite the moderate reading, it remained up from December's low of -10.2. The [...]