Economy in Brief

Initial unemployment insurance claims decreased to 216,000 in the week ended June 15 from an unrevised 222,000 the week before. Claims remained near their lowest level since December 1969. The latest reading compared to expectations [...]

The UK economic and political drama continues to play out and, as it does, retail sales are withering. Boris Johnson is a step closer to being named Prime Minister. At the BOE meeting, policy was kept on hold as the bank cuts its [...]

The Federal Reserve Bank of Philadelphia reported that its General Factory Sector Business Conditions Index declined to 0.3 in June after May's improvement to 16.6. It was the lowest index level since February. A reading of 11.5 had [...]

The UK economic and political drama continues to play out and, as it does, retail sales are withering. Boris Johnson is a step closer to being named Prime Minister. At the BOE meeting, policy was kept on hold as the bank cuts its [...]

The Federal Open Market Committee voted at today's meeting to leave the federal funds rate target in a range between 2.25% and 2.50%. The action was as expected in the Action Economics Forecast Survey. However, there was one [...]

Japan's trade deficit surged in May. The moving average of the deficit has worsened from 12-months to 6-months to 3-months. Exports are falling and are falling more rapidly from 12-months to 6-months to 3-months. Imports have been [...]

The Mortgage Bankers Association reported that its total Mortgage Applications Index fell 3.4% (+31.6% y/y) during the week ending June 14 after the prior week's 26.8% surge. The decline reflected 3.5% declines in both applications to [...]

U.S. retail gasoline prices continued their recent decline during the week ended June 17, falling six cents to $2.67 per gallon (-7.3% y/y), the sixth straight weekly decline. Haver Analytics calculates factors that adjust for the [...]