Economy in Brief: May 2013

Industrial production in the UK rose by 1.1% in March, building on a gain of 0.6% in February, and struggling to make a net gain compared to January's 1.9% drop. In March output saw increases for consumer durable goods, consumer [...]

Inventories at the wholesale level rose 0.4% (4.7% y/y) during March following a 0.3% slip in February. Inventories of hardware, plumbing and heating equipment led the rise with a 2.1% gain (8.3% y/y) while apparel inventories were up [...]

Momentum behind the labor market's improvement is building. Initial claims for unemployment insurance fell to 323,000 (-11.7% y/y) during the week ended May 4 from a revised 327,000 during the prior week, initially reported as [...]

German industrial production surprisingly rose by 1.2% in March building on a gain of 0.6% in February. These are the two first back-to-back gains in industrial production since April and May 2011 - and these gains are larger. These [...]

Lower interest rates are strengthening activity in the home mortgage market. The index of total mortgage applications from the Mortgage Bankers Association jumped 7.0% last week and by one-third versus last year. The rise reflected an [...]

The consumer took a break from spending more at the mall last week. The International Council of Shopping Centers and Goldman Sachs reported that chain store sales fell 1.0% (+2.4% y/y). As a result, store sales began the month of May [...]

Following many months of double-digit gains, consumer credit growth calmed down in March, according to the Federal Reserve. Nevertheless, the $8.0B monthly rise still left the annual gain close to its strongest since early-2008. The [...]

German factory orders rose by 2.2% in March building on a gain of 2.2% in February. Surprisingly, driving the overall growth were orders from the euro-zone market which jumped 4.2 percent. Total overseas orders rose 2.7 percent, while [...]