Economy in Brief: June 2011

The U.S. Government's budget deficit so far this fiscal year totaled $927.4B, according to figures released late-Friday by the U.S. Treasury and the Office of Management and Budget. The monthly deficit in May deepened slightly m/m to [...]

Pricing strength receded, at least temporarily, amongst internationally traded goods last month. Overall U.S. import prices rose just 0.2% after a little-revised 2.1% April increase. Nevertheless, the gain was stronger than Consensus [...]

The table in this commentary contains data for some of the early inflation reporters in the Euro Area, as does the graph. The graph is showing that the rising inflation trend is abating across all of the troubled borrowers in the [...]

The foreign trade deficit narrowed in April to $43.7B from $46.8B in March, initially reported as $48.2B. Expectations had been for $48.8B according to Action Economics. The latest figure was the least since December as exports rose [...]

For the third straight week claims held near the same level. Initial claims for jobless insurance ticked up to 427,000 last week from 426,000 during the week prior, revised from 422,000. The latest figure was higher than Consensus [...]

Smaller German trade surplus - German trade flows withered in nominal terms as the trade surplus fell to €11.98bln in April form €15.12bln in March. Still what happens with nominal flows can be deceiving. Understanding the under [...]

The Mortgage Bankers Association reported that overall mortgage applications slipped 0.4% last week following a 4.0% decline during the prior week. Applications began this month down 1.0% from the May average. Applications to purchase [...]

The improved job market has encouraged more credit usage by consumers. Reported late yesterday, overall consumer credit rose $6.3B during April following a downwardly-revised March gain of $4.8B. A $5.0B increase has been expected by [...]