Economy in Brief: 2014

The Empire State Factory Index of General Business Conditions improved during June to 19.28 from 19.01 in May. The Federal Reserve Bank of New York reported that it was the highest level since June 2010 and beat expectations for a [...]

The current account surplus in the European Monetary Union increased slightly in April as imports fell more sharply than exports, which also fell. The recent report on EMU industrial production showed that the European Union is making [...]

The overall final demand Producer Price Index declined 0.2% (+2.0% y/y) during May following an unrevised 0.6% April increase. It was the first decline since February and compared to expectations for a 0.1% gain in the Action [...]

Retail and food service sales gained 0.3% during May following a 0.5% April advance, revised from 0.1%. A 0.5% increase had been expected in the Action Economics Forecast Survey. Sales of motor vehicles & parts increased 1.4% (10.4% [...]

Total business inventories increased 0.6% in April (5.0% y/y) after a 0.4% rise during March. It was the firmest monthly increase in six months. Merchant wholesale inventories jumped another 1.1% (6.7% y/y). Inventories in the factory [...]

Import prices nudged up 0.1% during May (0.4% y/y) following a 0.5% April decline, last month reported as -0.4%. A 0.2% increase had been expected in the Action Economics Forecast Survey. A 1.1% rise (3.0% y/y) in petroleum prices [...]

The rate of labor market improvement is evening out. Initial claims for jobless insurance increased to 317,000 during the week ended June 7 from 313,000 in the prior week, revised up from 312,000. A 315,000 level of claims was [...]

The finalized figures in industrial production show that the European Monetary Union made a nice bounce back from previous weakness. Perhaps this will take some pressure off of the European Central Bank. However, on the inflation [...]