Economy in Brief

The Empire State Manufacturing Index of General Business Conditions rose to 21.1 in October, reversing some of September's decline to 19.0. This survey has been range-bound for roughly the last year. The Action Economics Forecast [...]

After two months of relatively deep declines, EMU IP has turned higher. It gained 1% in August over its depressed level of July. However, industrial output still declines on balance over three months and it is falling in the quarter- [...]

The National Association of Realtors reported that its Composite Index of Home Affordability declined 8.3% y/y during August to 141.2. The index was 34.4% below its peak in January 2013. Month-to-month, home affordability rose [...]

Import prices increased 0.5% (3.5% y/y) during September following a 0.4% August decline, revised from -0.6%. A 0.2% rise had been expected in the Action Economics Forecast Survey. These figures are not seasonally adjusted. Strength [...]

The Mortgage Bankers Association reported that its total Mortgage Applications Index fell 1.7% (-14.4% y/y) in the week ending October 5 following no change during the prior week. Purchase loan applications declined 1.1% (+2.1% y/y), [...]

Consumer price inflation remained subdued last month due to broad-based weakness. The CPI rose 0.1% (2.3% y/y) during September following two straight 0.2% gains. The increase fell short of expectations for a 0.2% gain in the Action [...]

Inflation diffusion is high over three months, six months and 12 months. The diffusion values show that inflation diffusion is well above the ‘neutral’ 50% mark on these horizons. Diffusion counts the number of sectors where inflation [...]

Initial claims for unemployment insurance rose to 214,000 (-11.2% y/y) during the week ended October 6 from 207,000 in the prior week, which was unrevised. The Action Economics Forecast Survey had expected a smaller increase to [...]