Economy in Brief

Forward momentum in building activity continues to slow. The value of construction put-in-place improved 0.1% (5.8% y/y) during July following a 0.8% decline in June, revised from -1.1%. A 0.4% increase was expected in the Action [...]

The ISM composite index of activity in the factory sector increased to 61.3 during August from 58.1 in July, which was unrevised. The latest level was the highest since May 2004 as each of the index components improved. A reading of [...]

The Chicago Purchasing Managers Business Barometer fell to 63.6 during August from an unrevised 65.5 in July. The decline was to the lowest level in three months. The Action Economics Forecast Survey expected a decline to 63.0. The [...]

Industrial production fell in Japan for the third consecutive month. While the July drop was small, the three-month growth rate shows a sizeable decline in the works. IP in the developing third quarter is falling on a quarter-to-date [...]

The plot in the chart makes it clear that the slippage in the EU indexes for EMU members is an ongoing phenomenon, not a one-month or two-month bit of variation. This sort of slippage is confirmed as well by the Markit indexes that [...]

Personal consumption expenditures rose 0.4% (5.2% y/y) in July, the same as during June which was unrevised. A 0.3% increase had been expected in the Action Economics Forecast Survey. Personal income improved an expected 0.3% (4.7% [...]

Initial unemployment insurance claims increased to 213,000 during the week ended August 25 from an unrevised 210,000 during the prior week. The Action Economics Forecast Survey called for a 215,000 reading. The four-week moving [...]

The Mortgage Bankers Association reported that its total Mortgage Applications Index fell 1.7% last week (-15.5% y/y) following a 4.2% increase. It was the sixth decline in the last seven weeks. The effective interest rate on a [...]