Economy in Brief: December 2020

• Oil prices increase firmly as nonpetroleum prices hold steady. • Export price strength led by higher agricultural costs. Import prices improved 0.1% (-1.0% y/y) during November following an unrevised 0.1% October slip. A 0.3% [...]

• The headline index eased slightly. • However, components were stronger, showing a slight improvement in activity. • Employment posted its strongest performance in months. The Empire State General Business Conditions Index edged [...]

• Gasoline prices unchanged at nine-week high. • Crude oil prices rise again to highest level since February. • Natural gas prices ease but are trending higher. The price of regular gasoline was unchanged at $2.16 per gallon (-14.9% [...]

Japan's tankan survey for large firms improved this quarter with the current manufacturing index logging a value of -10 compared with -27 last month. The manufacturing outlook improved to -8 from -17 last quarter. The tankan is a [...]

• Factory sector growth has helped raise prices. • Commodity price strength is broad-based. Growth in factory sector output has been a mainstay of the economy's recovery. During the last six months, industrial production has risen by [...]

No major central bank is experiencing any trouble with accelerating inflation at the moment. The virus has recirculated and that is slowing things down again keeping slack conditions present globally although also creating some [...]

• A decline in income more than offsets lower principal & interest payments. • October's slip in affordability follows upward revisions to earlier data. The National Association of Realtors reported that its Fixed Rate Mortgage [...]

• Food & energy prices are firm again. • Core goods prices rise moderately. • Service prices hold steady. The Producer Price Index for final demand rose 0.1% (0.8% y/y) during November following a 0.3% October gain. It was the [...]