Economy in Brief: January 2014

Auto registrations in Europe rose smartly in December. EU auto sales rose by 5.2% after falling 8% in November and rising 8.3% in October. However, through all that the volatility is clear net gains in auto sales and registrations. [...]

The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo slipped a point to 56 this month but the figure remained near the expansion high. The December figure was revised to 57 from 58 and the [...]

The Philadelphia Federal Reserve Bank reported that its General Business Conditions Index for January rose slightly to 9.4 from 6.4 in December. Nevertheless, it remained down sharply from the September high. The latest figure roughly [...]

Initial claims for unemployment insurance slipped to 326,000 during the week ended January 11 from 328,000 in the prior week, revised from 330,000. It was the lowest level since late-November. Expectations had been for 328,000 claims [...]

Consumer prices during all of 2013 increased 1.5%. The gain followed a 2.1% rise in 2012 and was half the 2011 increase. Price inflation ended 2013 on a firmer note, however, as December's 0.3% rise (1.5% y/y) was the strongest in six [...]

The Mortgage Bankers Association reported that their total mortgage market index rose 11.9% last week (-53.8% y/y) but remained near the lowest level since late-2000. Applications to purchase a home rose 11.5% (-8.5% y/y) while [...]

The Federal Reserve Bank of New York indicated that its Empire State Factory Index of General Business Conditions for January rose sharply to 12.51 from a revised December reading of 2.22. The figure was at its highest level since May [...]

Price inflation recovered at the end of last year. The Producer Price Index for finished goods increased 0.4% (1.2% y/y) following unrevised declines of 0.1% and 0.2% during the prior two months. The latest gain matched expectations [...]