Economy in Brief

The value of construction put-in-place slumped in March, falling 1.7% m/m (+3.9% y/y). The Action Economics Forecast Survey had looked for a 0.5% m/m rise in building activity. Unusual winter-like weather was probably at the heart of [...]

China manufacturing PMI is only slightly weaker in April compared to March and holds most of the March gain over February. Still, the PMI is only moderately valued standing in the 50th percentile of its historic range of values – [...]

Retail gasoline prices increased to $2.85 per gallon last week (18.0% y/y) following the prior week's five cent increase to $2.80 per gallon. It was the highest price level since November 2014. Haver Analytics constructs factors [...]

The Chicago mixed manufacturing and services local index ticked slightly higher in April but kept most of the step down in place from last month. Over the last two months, the index is essentially back to where it had been between [...]

The Federal Reserve Bank of Dallas indicated in its Texas Manufacturing Outlook Survey that the April General Business Activity Index declined to 21.8, the lowest level since November and down from the February high of 38.4. Despite [...]

The National Association of Realtors (NAR) reported that pending home sales increased 3.1% (-4.1% y/y) in February to an index level of 107.5 (2001=100).............. The pending home sales index measures home sales when the sales [...]

The National Association of Realtors (NAR) reported that pending sales of existing homes increased 0.4% (-3.0% year-on-year) in March to an index level of 107.6 (2001=100). Sales have slowed somewhat with the first quarter averaging [...]

The chart shows the gradual roll-over in EMU money and credit growth. Both series have slowed over 12 months compared to their year-ago rates of growth. EMU private sector credit growth is at 1.4%, down from 1.8% a year ago. However, [...]