French IP rose by 22.0% in May while Italian IP gained 47.3% on the month. Both of those results, in isolation, are stunning numbers. But after the dust and smoke and mirrors of the rebound are carried away, IP in France is still [...]
Global| Jul 10 2020
Italian and French IP Make Strong But Incomplete Recoveries
• Housing affordability decreased in May from a four-year high in April. • Falling incomes offset record low mortgage interest rates. The National Association of Realtors reported that its Fixed Rate Mortgage Housing Affordability [...]
Global| Jul 09 2020
German Trade Rebounds
German exports gained sharply in May but not quite as sharply as expected, rising by 9.0% month-to-month. Despite that surge, exports are still declining at accelerating rates from 12-months to six-months to three-months. Imports also [...]
Global| Jul 09 2020
U.S. Wholesale Inventories Fall as Sales Surge
• Wholesale inventory decline is broad-based. • Sales spike is notable in durables sector • Inventory to sales ratio remains elevated. Wholesale inventories fell 1.2% (-4.2% y/y) as durable goods inventories slid 2.0% (-5.1% y/y). The [...]
by:Tom Moeller
|in:Economy in Brief
Global| Jul 09 2020
U.S. Initial Claims for Unemployment Insurance Decline
• State initial jobless claims fell to 1.314 million last week. • New applications for Federal Pandemic Unemployment Assistance rose to 1.039 million. • Continuing claims for jobless insurance and the insured jobless rate eased. [...]
by:Tom Moeller
|in:Economy in Brief
Global| Jul 08 2020
U.S. Consumer Credit Continues to Decline
• Reduced credit card usage leads the falloff. Consumer's are pulling back as unemployment rises. Consumer credit outstanding fell $18.3 billion (+0.8% y/y) during May following a $70.2 billion April decline, revised from $-68.8 [...]
by:Tom Moeller
|in:Economy in Brief
Global| Jul 08 2020
Japan's Economy Watchers Index Rebounds
Japan's economy watchers current index jumped to 38.8 in June from 15.5 in May. The index had largely been in a range from 37 to 47 from August 2019 to January 2002. It then slipped to 27.4 in February and again to 14.2 in March and [...]
Global| Jul 08 2020
U.S. Mortgage Loan Applications Increase as Home Purchase Apps Surge
• 15-year fixed rate mortgage eased to record low. The Mortgage Bankers Association reported that its total Mortgage Applications Index increased 2.2% (71.1% y/y) during the week ending July 3 after falling for two straight weeks. [...]
by:Tom Moeller
|in:Economy in Brief
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