Economy in Brief: 2020

The EMU trade situation saw an extremely sharp deterioration in its surplus in April. The surplus dropped from €25.5bln to €1.2bln in one month! It is by far the sharpest monthly setback on data back to January 1999. EMU experienced [...]

Economic activity in New York is strengthening. The Empire State Manufacturing Index of General Business Conditions rose sharply to -0.2 during June from -48.5 in May. The rebound far outpaced expectations for an increase to -31.3 in [...]

Japan's industrial production index fell sharply in April and on revision the drop has been revised slightly smaller. However, the drop is still enormous and it came on the heels of a substantial drop in March and a small decline in [...]

• Housing affordability jumps to its highest rate since March 2016. • Strength in home prices is offset by improvement in income & lower mortgage rates. The National Association of Realtors reported that its Fixed Rate Mortgage [...]

• Oil prices reverse part of April's decline. • Nonoil prices edge higher. • Export prices rise moderately. Import prices improved 1.0% during May (-6.0% y/y) after an unrevised 2.6% April decline. A 0.5% rise had been expected in the [...]

• Initial jobless claims declined to a still extremely-elevated 1.542 million in the week ending June 6. • Federal Pandemic Unemployment Assistance new filers down to 705,676. • Continuing claim for state programs decreased to 20.9 [...]

Total borrowing in U.S. financial markets ballooned to $10.346 trillion in Q1, a record amount and by far a record share of GDP, 48.0%, according to the Federal Reserve's Financial Accounts data. Q4 2019 saw total borrowing of $2.362 [...]

Total borrowing in U.S. financial markets ballooned to $10.346 trillion in Q1, a record amount and by far a record share of GDP, 48.0%, according to the Federal Reserve's Financial Accounts data. Q4 2019 saw total borrowing of $2.362 [...]