Economy in Brief: October 2018

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 [...]

Import prices increased 0.5% (3.5% y/y) during September following a 0.4% August decline, revised from -0.6%. A 0.2% rise had been expected in the Action Economics Forecast Survey. These figures are not seasonally adjusted. Strength [...]

The Mortgage Bankers Association reported that its total Mortgage Applications Index fell 1.7% (-14.4% y/y) in the week ending October 5 following no change during the prior week. Purchase loan applications declined 1.1% (+2.1% y/y), [...]

Consumer price inflation remained subdued last month due to broad-based weakness. The CPI rose 0.1% (2.3% y/y) during September following two straight 0.2% gains. The increase fell short of expectations for a 0.2% gain in the Action [...]