Economy in Brief

The EMU unemployment rate remains in November at its lowest rate since 2008. On the month, the unemployment rate fell in Austria, France, and Spain. With a lag, the unemployment rate fell in Greece and also in EU member, the United [...]

The latest readings of labor market conditions were mixed. Initial claims for jobless insurance declined 9,000 to 214,000 (-3.2% y/y) in the week ended January 4 from 223,000 in the prior week, revised from 222,000. It was the fourth [...]

Consumer Credit Outstanding increased $12.53 billion (4.5% y/y) during November after an $18.96 billion October gain, revised from $18.90 billion. A $16.4 billion increase had been expected by the Action Economics Forecast Survey. [...]

Reports for the New Year continue to come in emitting erratic signals. Global PMI data from Markit remain weak with poor momentum but also throw out some hints of stabilizing. In the U.S., the ISM is delivering a split decision but [...]

The ADP National Employment Report indicated that private nonfarm payrolls increased 202,000 (1.5% y/y) during December following a 124,000 November rise, revised from 67,000. It was the largest increase since April and exceeded [...]

The Mortgage Bankers Association reported that its Mortgage Loan Index jumped 13.5% (29.9% y/y) in the week ending January 3 after falling 13.2% in the previous week. Applications to refinance a loan surged by one quarter (73.5% y/y) [...]

• Consumer credit jumped $22.1 billion in December. • Credit growth for 2019 was fairly steady at 4.7% versus 4.8% in 2018. Consumer credit outstanding increased $22.1 billion (4.7% year-on-year) to $4.197 trillion in December, [...]

etail gasoline prices inched up to $2.58 per gallon (15.2% y/y) last week from $2.57 per gallon in the previous week. Last week's price roughly equaled last year's average. Typically, gasoline prices weaken this time of year and Haver [...]