Economy in Brief: October 2019

Total business inventories were unchanged during August (4.2% y/y) following a 0.3% July gain, revised from 0.4%. Total business sales rose 0.2% (1.1% y/y), the same as in July which was revised from 0.3%. The inventory-to-sales (I/S) [...]

The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo rose for the fourth consecutive month to 71 in October from 68 in September. This is the highest reading since January 2018. The index has [...]

Total retail sales slipped 0.3% (+4.1% y/y) during September following a 0.6% August increase, revised from 0.4%. A 0.2% September gain had been expected in the Action Economics Forecast Survey. Retail sales excluding motor vehicles & [...]

In the week ended October 14, the U.S. pump price for gasoline eased to $2.63 per gallon (-8.7% y/y) from $2.65 the previous week. Haver Analytics adjusts these price figures for seasonal variation. The seasonally adjusted price held [...]

The Mortgage Bankers Association reported that its Mortgage Loan Index edged up 0.5% w/w (81.8% y/y) in the week ending October 11, following a 5.2% rise in the previous week. Applications to refinance a loan increased 3.6% w/w [...]

Growth is precarious; don't be nefarious ZEW experts are only one group with a negative and cautionary outlook. In its annual report, the IMF blamed the global slowdown on (1) trade fights, (2) Brexit uncertainty, and (3) other [...]

The Empire State Manufacturing Index of General Business Conditions for October rose to 4.0 after falling to 2.0 in September. A reading of 1.0 had been expected in the Action Economics Forecast Survey. A slightly improved 30% of [...]

The Industrial Materials Price Index from the Foundation for International Business and Economic Research (FIBER) declined 1.4% during the last four weeks. The price index was down 11.1% y/y and remained at the lowest level since [...]