Economy in Brief

The U.S. current account deficit narrowed to $128.2 billion during Q2'19 from an upwardly-revised $136.2 bil. during Q1'19 (was $130.4 bil.). The Action Economics Forecast Survey anticipated a $127.4 bil. deficit. As a percent of GDP, [...]

The Federal Reserve Bank of Philadelphia reported that its General Factory Sector Business Conditions Index declined to 12.0 in September following a reading of 16.8 in August. It was the lowest figure in three months, but was higher [...]

Initial claims for unemployment insurance in the week ending September 14 increased 2,000 to 208,000 (-1.9% y/y) from an upwardly revised 206,000 in the previous week (originally 204,000). The Action Economics Forecast Survey expected [...]

The Federal Reserve lowered the target for the Fed Funds rate by 25 basis points to a range of 1.75% to 2.00% at today's FOMC meeting. The action was expected in the Action Economics Forecast Survey, which does not foresee further [...]

High inflation is one less thing that the Bank of England has to worry above as the U.K. CPIH was flat in August, dropping its year-over-year pace to 1.7%, its slowest annual gain since November 2016. The 'core' excluding food, [...]

The Mortgage Bankers Association reported that its total Mortgage Applications Index eased 0.1% (+66.2% y/y) in the week ending September 13, following a 2.0% increase during the prior week. Applications to refinance a loan declined [...]

New residential building activity strengthened last month. Housing starts jumped 12.3% (6.6% y/y) during August to 1.364 million units (AR) from 1.215 million in July, revised from 1.191 million. Starts in June were revised slightly [...]

Current assessments peaked around mid-2018, marking one of only four episodes of positive current assessments by ZEW experts since January 1999. Expectations had peaks just a bit earlier and have been falling steadily ever since. [...]