Economy in Brief: 2021

• State initial claims jump may reflect holiday distortions. • Continuing claims also jump. • Insured jobless rate hits four-week high. Initial claims for unemployment insurance increased in the week ended January 9 to 965,000 from [...]

• Import prices rose 0.9% in December as fuel prices jumped 7.8%. • Export prices gained 1.1% with fuels up 8.9%. • Excluding fuels both import and export prices increased 0.4%. Import prices grew a greater-than-expected 0.9% during [...]

• Deficit share of GDP continues to rise. • Outlay surge still driven by increased jobless benefits. • Personal tax receipts remain under pressure. The U.S. Treasury Department reported that the federal budget deficit of $143.6 [...]

• Energy & food prices strengthened last month. • Pricing power in 2020 remained under control. • Goods price inflation inched up while services decelerated. Retail pricing power remained limited last year. The Consumer Price Index [...]

EMU industrial production rose by 2.5% in November, accelerating slightly from the 2.3% gain in October. Both months are a considerable step-up from the 0.2% gain in September. The past two-month gains put IP on a path to rise [...]

• Increase led by surge in applications for refinancing. • Mortgage interest rates little changed but still near or at record lows. The Mortgage Bankers Association Mortgage Loan Applications Index jumped up 16.7% w/w (57.3% y/y) in [...]

Japan's current economy watchers reading has plunged in December, falling to 35.5 from 45.6 in November. The index had increased monotonically from its April low until November when it slipped and now it has fallen for two months in a [...]

• Number of job openings drops as well. • Level of hiring improves. • Layoffs increase as quits hold steady. The Bureau of Labor Statistics reported that on the last business day of November, the total job openings rate slipped to [...]