Economy in Brief: March 2016

The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo held steady m/m at 58, the lowest level in nine months. The NAHB figures are seasonally adjusted. During the last ten years, there has been [...]

The Empire State Factory Index of General Business Conditions rebounded strongly this month. The New York index surged to 0.62 from -16.64 in February. It was the first positive reading since July. Expectations had been for -12.0 in [...]

French inflation has turned to the dark side, showing persisting deflation and going deeper down the rabbit hole of deflation. Prices are now falling for two months in a row, as even the domestic measure, the CPI ex-energy, is [...]

Retail spending showed little strength in the latest Commerce Department report. Total retail sales & spending at food services eased 0.1% in February (+6.2% y/y) after a 0.4% January decline, last month reported as a 0.2% increase. [...]

The headline Final Demand Producer Price Index fell 0.2% m/m (0.0% y/y) in February after an unexpected 0.1% m/m rise in January. The February reading was spot on expectations from the Action Economics Forecast Survey. The unchanged [...]

Recent improvement in factory sector production has strengthened industrial commodity prices. The industrial price index from the Foundation for International Business and Economic Research (FIBER) increased 3.7% during the last four [...]

After falling for two straight months, industrial production (IP) suddenly is stronger in the euro area. That by itself is suspicious amid conditions of ongoing struggle. Consumer goods and capital goods output are rising strongly in [...]

Deflation and monetary policy All eyes have been on the ECB and its next move which it executed just yesterday. The ECB rate cut was modest and the step up in asset purchases was a bit more. Broadening its programs and the asset [...]