Economy in Brief: October 2020

• Industrial production declined 0.6% in September after four months of gains; production 7.1% from February. • Manufacturing decreased 0.3%; 6.4% below February level. • Motor vehicle output down for second consecutive month. [...]

Japan's service sector index (tertiary sector from METI) is the most recent reading on Japan's economy. That index rose to 95.1 in August from 94.3 in July. However, it has a 3.1 percentile standing based on its y/y growth rate and [...]

• Headline index rose to highest level since February. • Component strength was broad-based. • Expectations continued to strengthen. The Federal Reserve Bank of Philadelphia reported that its General Factory Sector Business Conditions [...]

• Oil prices backpedal. • Export price gains remain firm. Import prices increased 0.3% (-1.1% y/y) during September after rising 1.0% in August, revised from 0.9%. The increase matched expectations in the Action Economics Forecast [...]

• State initial claims rose to highest level since mid-August on both a seasonally adjusted and not seasonally adjusted basis. • Federal Pandemic Unemployment Assistance new filers decreased for fifth consecutive week to lowest level [...]

Lockdown, social distancing, an R rate north of one, contact tracing and herd immunity. Most folks who read these words a few months ago would have little idea about what was being discussed. Fast forward to today and those same words [...]

Lockdown, social distancing, an R rate north of one, contact tracing and herd immunity. Most folks who read these words a few months ago would have little idea about what was being discussed. Fast forward to today and those same words [...]

Economic activity in New York slowed more than the markets had expected in October with the Empire State General Business Conditions Index slipping to 10.5 after having jumped up to 17.0 in September. This was the fourth consecutive [...]