Economy in Brief

Global markets cheered as China's manufacturing PMI registered positive growth in March for the first time since October of last year. Still, the reading is weak and a bare-bones positive at 50.5. Ranking the headline diffusion index [...]

The ISM manufacturing index unexpectedly rose to 55.3 in March from 54.2 in February, but remained close to its weakest level since late-2016. The index remained below its expansion peak 60.8 last August. The Action Economics Forecast [...]

Total business inventories increased 0.8% (5.3% year-on-year) during January, the second consecutive monthly gain of this magnitude (this report was delayed as a result of the government shutdown). Total business sales rose 0.3% (2.8% [...]

Total retail sales fell 0.2% during February (+2.2% y/y) following a 0.7% January increase, revised from 0.2%. A 0.2% gain had been expected in the Action Economics Forecast Survey. Retail sales excluding motor vehicles and parts [...]

The Chicago Purchasing Managers Business Barometer fell back to 58.7 in March after having surged to 64.7 in February. The February reading had been the highest since December 2017. The Action Economics Forecast Survey expected a [...]

Germany's retail sales unexpectedly rose sharply in February after a solid rebound in January. Year-over-year retail sales rise by 5.5% and they are rising at a 7.7% annual rate in the quarter-to-date. Real retail sales also have a [...]

The housing market has been exhibiting strength recently. New home sales increased 4.9% (0.6% y/y) during February to 667,000 (SAAR) from 636,000 in January, revised from 607,000. December sales also were revised up. It was the [...]

Personal consumption expenditures improved 0.1% (3.7% y/y) during January following a 0.6% December decline, revised from -0.5%. The gain fell short of a 0.3% rise expected in the Action Economics Forecast Survey. The Commerce [...]