Economy in Brief

Wholesale inventories were unchanged (7.6% y/y) during June following an unrevised 0.4% May increase. A 0.2% rise was expected in the Informa Global Markets Survey. Durable goods inventories increased 0.3% (10.1% y/y) in June after [...]

Initial unemployment insurance claims declined to 209,000 (-3.5% y/y) during the week ended August 3 from 217,000 in the prior week, revised from 215,000. The Action Economics Forecast Survey expected 215,000 initial claims. The four- [...]

The Mortgage Bankers Association reported that its total Mortgage Applications Index rose 5.3% (46.5% y/y) during the week ending August 2 following five consecutive weeks of decline. Applications to refinance a loan firmed 11.8% and [...]

Individuals pared back their borrowing needs in June, but it remains strong. Consumer credit outstanding increased $14.58 billion (5.1% y/y) after rising $17.81 billion in May, revised from $17.10 billion. It was the smallest increase [...]

In June, German manufacturing output declined on all fronts. Consumer goods output declined. Intermediate goods output declined. The output of capital goods declined. It makes you nostalgic for the good only days, like yesterday, when [...]

The National Association of Realtors reported that its Fixed Rate Mortgage Housing Affordability Index improved 1.3% to 151.9 during June (10.3% y/y) after falling 1.6% in May. Despite the increase, affordability remained 28.8% below [...]

The Mortgage Bankers Association reported that its total Mortgage Applications Index rose 5.3% (46.5% y/y) during the week ending August 2 following five consecutive weeks of decline. Applications to refinance a loan firmed 11.8% and [...]

German orders jumped for joy in June, tempering a period of order weakness and declines. The rise is all on the back of 'foreign orders' that spurted by 5% one month after a 3.9% decline. That fact may temper any enthusiasm by itself. [...]