Economy in Brief

Building activity retraced some of last month's strength. Housing starts fell a greater-than-expected 9.4% in September (+1.6% year-on-year) to 1.256 million-unit annual rate, from an upwardly-revised 1.386 million in August. The [...]

The Federal Reserve Bank of Philadelphia reported that its General Factory Sector Business Conditions Index declined to 5.6 in October following a September reading of 12.0. It was the lowest figure since June, down from the July high [...]

Initial claims for unemployment insurance in the week ending October 12 rose 4,000 to 214,000 (-0.5% y/y) from an unrevised 210,000 in the previous week. The Action Economics Forecast Survey expected 215,000. The four-week moving [...]

The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo rose for the fourth consecutive month to 71 in October from 68 in September. This is the highest reading since January 2018. The index has [...]

The headlines European auto sales fell sharply in September by 20.2% month-to-month but since they fell by 40% month-to-month one year ago in September; the year-over-year pace has accelerated to a 19.7% gain. That kind of volatility [...]

Total business inventories were unchanged during August (4.2% y/y) following a 0.3% July gain, revised from 0.4%. Total business sales rose 0.2% (1.1% y/y), the same as in July which was revised from 0.3%. The inventory-to-sales (I/S) [...]

The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo rose for the fourth consecutive month to 71 in October from 68 in September. This is the highest reading since January 2018. The index has [...]

Total retail sales slipped 0.3% (+4.1% y/y) during September following a 0.6% August increase, revised from 0.4%. A 0.2% September gain had been expected in the Action Economics Forecast Survey. Retail sales excluding motor vehicles & [...]