Economy in Brief: May 2019

Total business inventories were unchanged (+5.0% y/y) in March after rising 0.3% m/m in February and jumping 0.9% m/m in January. In contrast, total business sales surged 1.6% m/m (3.7% y/y) in March versus a 0.2% m/m increase in [...]

Industrial production fell a greater-than-expected 0.5% (+0.9% year-on-year) during April following an upwardly-revised 0.2% gain in March (was -0.1%). The Action Economics Survey forecast an unchanged reading for April. Manufacturing [...]

Total retail sales slipped 0.2% (+3.1% y/y) during April following a 1.7% March increase, revised from 1.6%. A 0.3% rise had been expected in the Action Economics Forecast Survey. Excluding motor vehicles and parts, retail sales [...]

The Labor Department reported that import prices increased 0.6% during March and were unchanged y/y......... Export prices increased 0.7% (0.6% y/y) for a second consecutive month.......... The import and export price series can be [...]

ZEW macro-indicators of current conditions show some strengthening month-to-month. However, only the U.S. has a queue standings anything close to strong (in the 80th percentile). Japan has a firm standing in its 75th percentile with [...]

The National Federation of Independent Business (NFIB) reported that its Small Business Optimism Index increased to 103.5 during April following little change in March. It was the highest reading since December. The index gained 1.7% [...]

Import prices grew a less-than-expected 0.2% during April (-0.2% year-on-year) following an unrevised 0.6% gain in March. Prices were up 1.0% in February. The Action Economics Forecast Survey expected a 0.7% increase in April. These [...]

Retail gasoline prices declined by three cents last week to $2.87 per gallon (-0.2% y/y) after rising slightly during the prior week. Haver Analytics constructs factors adjusting for the seasonal variation in gasoline pump prices. The [...]