Economy in Brief

Initial claims for unemployment insurance edged higher to 211,000 (-12.8% y/y) in the week ending April 28, from an unrevised 209,000 in the prior week. Claims had fallen sharply in the week ending April 21 and the Action Economics [...]

At today's meeting of the Federal Open Market Committee, the federal funds rate target was held constant in a range between 1.50% and 1.75%. The financial markets had expected today's action as indicated in the Action Economics [...]

Quarterly GDP slows in EMU in the Q1 and also slows in all the original EMU members that are early reporters – Spain excepted. Growth also slows in the United States and slows sharply in the United Kingdom. More broadly, year-over- [...]

The Mortgage Bankers Association reported that its total Mortgage Applications Volume Index fell 2.5% last week (-4.2% y/y), following a 0.2% slip during the prior week. Purchase loan applications declined 1.6% (+4.9% y/y), after [...]

The ADP/Moody's National Employment Report indicated that private nonfarm payrolls increased 204,000 during April following a 228,000 March increase, revised from 241,000. A 201,000 rise had been expected in the Action Economics [...]

The value of construction put-in-place improved 0.1% (3.7% y/y) during February following unrevised stability in January. A 0.4% rise in building activity had been expected in the Action Economics Forecast Survey. Private sector [...]

Total sales of light vehicles declined 1.9% during April (+0.6% y/y) to 17.15 million units (SAAR), following a 2.4% March rise, according to the Autodata Corporation. The decline placed sales 7.6% below the 18.57 million unit high [...]

Activity in the factory sector moderated again last month. The ISM manufacturing sector composite index for April declined to 57.3, its lowest level in nine months. Despite the decline, the index remained near the highest point since [...]