Economy in Brief: October 2014

Housing starts during September recovered 6.3% to 1.017 million (AR, 17.8% y/y) after a 12.8% decline to 957,000 during August, revised from 956,000. The latest level roughly matched expectations for 1.010 million starts in the Action [...]

European auto registrations continue their year-over-year gains in September, rising by 2.6% year-over-year. But this growth rate is slipping, falling from a year-over-year gain of 3.7% last month and of 4.6% the month before. Vehicle [...]

The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo fell back to 54 during October from an unrevised 59 in September. The figure missed expectations for 59 in the Informa Global Markets [...]

The Philadelphia Federal Reserve Bank reported that its General Factory Sector Business Conditions Index for October fell to 20.7 from 22.5 in September. The reading was the lowest since June and roughly matched expectations in the [...]

The Federal Government posted a $483.4 billion budget deficit during all of FY 2014. It was the smallest deficit since 2008. For FY 2015, the Congressional Budget Office projects the budget deficit will total $469 billion then rise to [...]

Industrial production jumped 1.0% during September (4.4% y/y) following a 0.2% August dip revised from -0.1%. The gain was driven by a 3.9% spike (0.9% y/y) in utility output which followed a 1.2% rise. Factory production rose 0.5% [...]

The trade surplus in the European Monetary Union moved sharply higher in August at 15.8 billion euros compared to 12.7 billion euros in July. Imports won the race to the bottom as they fell by 3.1% in August, outpacing exports that [...]

Initial unemployment insurance claims during the week ended October 11 fell to 264,000 (-25.6% y/y) from an unrevised 287,000 during the prior week. It was the lowest level of claims since April 2000. The Action Economics Forecast [...]