Economy in Brief: 2020

• Gasoline prices strengthen as drivers take to the road. • Crude oil prices continue rising as demand improves worldwide. • Natural gas prices weaken further. The price for a gallon of regular gasoline rose to $2.13 per gallon [...]

• Existing home sales hit lowest since October 2010. • Sales fall across the nation. • Prices decline modestly. The National Association of Realtors (NAR) reported that sales of existing homes dropped 9.7% (-26.6% y/y) during May to [...]

The U.K. CBI survey responses are still weak in June. Total orders are stronger than their May vales but slightly weaker than their April value. But export orders continue to fall and they are still falling hard. Export diffusion [...]

• Indicators of modest improvement were broad-based. • Employment cutbacks abate. The Federal Reserve Bank of Chicago reported that the National Activity Index (CFNAI) improved to 2.61 during May from a record negative reading a [...]

• Current account deficit at $104.2 billion, 1.9% of GDP. • Exports and imports of goods and services decline. • Revisions create smaller deficits in recent years, larger ones in past. • Expanded statistics on trade in services. The [...]

• Prices post broad-based increases. • Crude oil prices lead the upturn. • Metals prices firm. The Industrial Materials Price Index from the Foundation for International Business and Economic Research (FIBER) increased 2.8% during the [...]

The U.K. is being clobbered by the lockdown designed to stop the spread of the coronavirus. Sales fell by 6% in March and by 18.8% in April but have rebound smartly by 11.7% in May. The growth rates in real terms are similar in [...]

• Current account deficit at $104.2 billion, 1.9% of GDP. • Exports and imports of goods and services decline. • Revisions create smaller deficits in recent years, larger ones in past. • Expanded statistics on trade in services. The [...]