Economy in Brief: 2019

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 [...]

The Zew experts' assessments of the global economy have taken a set-back in June. The set-back is broad in nature across countries/regions and across the surveyed gauges that the Zew experts assess. After some stabilization the [...]

Housing starts eased 0.9% (-4.7% y/y) during May to 1.269 million (SAAR) from 1.281 million in April, revised from 1.235 million. Starts in March also were revised up to 1.199 million from 1.168 million. The Action Economics Forecast [...]