Economy in Brief: March 2020

• Current account deficit narrowed to $109.8 billion, led by a decrease in the goods deficit. • Balance on services and income roughly unchanged. The U.S. current account deficit narrowed to $109.8 billion during Q4'19 from an [...]

Japan's CPI fell by 0.1% in February; the core CPI (ex food and energy) fell by 0.2% in the month. Of course, the Bank of Japan is not going to be happy with the inflation trend that now is wholly muted. But the Bank, and Japan as a [...]

The Federal Reserve Bank of Philadelphia reported that its General Factory Sector Business Conditions Index deteriorated to -12.7 during March from 36.7 in February. It was the first negative reading since February 2013. An index of [...]

The Federal Reserve Bank of Philadelphia reported that its General Factory Sector Business Conditions Index deteriorated to -12.7 during March from 36.7 in February. It was the first negative reading since February 2013. An index of [...]

Car registrations weakened sharply in January ahead of any virus effect in Europe. In February, sales edged higher by 2.2%. Still, that leaves sales/registrations falling at a 30% annual rate over three months, falling at a 32% annual [...]

The Mortgage Bankers Association reported that its Mortgage Loan Application Index weakened 8.4% (+175.3% y/y) during the week ending March 13 after a 55.4% jump in the prior week. The decline occurred as refinancings fell 10.4% [...]

Housing starts fell 1.5% (+39.2% y/y) during February to 1.599 million units (SAAR) from 1.624 million in January, revised from 1.567 million. Starts in December were revised down to 1.601 million from 1.626 million. The Action [...]

Housing starts fell 1.5% (+39.2% y/y) during February to 1.599 million units (SAAR) from 1.624 million in January, revised from 1.567 million. Starts in December were revised down to 1.601 million from 1.626 million. The Action [...]