Economy in Brief

Gasoline prices slipped to an average $2.88 per gallon last week (+15.7% y/y), down two cents from the prior week. Prices have meandered sideways since May. Haver Analytics constructs factors to adjust for the marked seasonal [...]

The U.S. Treasury Department reported that during FY'18, the federal government ran a $779.0 billion budget versus a $665.8 billion deficit in FY'17. It was the largest deficit since 2012 and amounted to 3.9% of GDP, up from 3.5% in [...]

Total business inventories increased 0.5% (4.2% y/y) during August following a 0.7% July rise, revised from 0.6%. Total business sales increased 0.5% (7.8% y/y), following a 0.2% gain. The inventory-to-sales ratio held steady at 1.34. [...]

Finland is experiencing three distinct forces on the inflation front. Within the last year, inflation is low and stable. Yet, over the past year, inflation has been rising on a year-over-year basis (see Chart). However, at the same [...]

Total retail sales improved 0.1% (4.7% y/y) during September following an unrevised 0.1% August gain. A 0.6% increase had been expected in the Action Economics Forecast Survey. Excluding motor vehicles and parts, retail sales eased [...]

The Empire State Manufacturing Index of General Business Conditions rose to 21.1 in October, reversing some of September's decline to 19.0. This survey has been range-bound for roughly the last year. The Action Economics Forecast [...]

After two months of relatively deep declines, EMU IP has turned higher. It gained 1% in August over its depressed level of July. However, industrial output still declines on balance over three months and it is falling in the quarter- [...]

The National Association of Realtors reported that its Composite Index of Home Affordability declined 8.3% y/y during August to 141.2. The index was 34.4% below its peak in January 2013. Month-to-month, home affordability rose [...]