Economy in Brief: January 2018

The economy watchers index in Japan rose higher in December as current employment conditions improved. But expectations for the future slipped back. This novel Japanese index is a survey of people in the service sector who observe (or [...]

The U.S. Treasury Department reported that the federal government ran a $23.2 billion budget deficit during December 2017 compared to a $27.3 billion deficit in December 2016. A deficit of $50.2 billion had been expected in the Action [...]

The headline Final Demand Producer Price Index using new methodology eased 0.1% during December following a 0.4% November increase. It was the first monthly decline since August 2016. The y/y rise nevertheless remained firm at 2.6%, [...]

Industrial output rose smartly in the EMU, gaining 1% in November after a 0.4% increase in October and a 0.5% decrease in September. Sequential growth rates for overall and manufacturing output show variation but also reveal [...]

Initial unemployment insurance applications increased to 261,000 (0.4% y/y) during the week ended January 6 following an unrevised 250,000 claimant level in the week prior. Expectations had been for a decline to 245,000 claims in the [...]

The Mortgage Bankers Association reported that its total Mortgage Applications Volume Index strengthened 8.3% last week (2.9% y/y) following declines during the prior four weeks. Purchase loan applications rose 5.0% (0.3% y/y) [...]

Wholesale inventories increased 0.8% (3.9% y/y) during November following a 0.4% October decline, revised from -0.5%. In the advance report issued on December 28, wholesale inventories were reported up 0.7% m/m in November. [...]

The BCC survey is a somewhat marked contrast to the new estimates for Q4 GDP also released today from NIESR (the National Institute of Economic and Social Research). NIESR estimates that the U.K. accelerated in Q4 growing at a [...]