Economy in Brief

U.S. economic growth slowed a bit more than initially estimated in Q1'18. Real gross domestic product grew at a 2.2% annual rate, revised from 2.3% estimated initially. The rise followed 2.9% growth during Q4'17. A 2.3% increase had [...]

Suddenly, the euro area is in turmoil. At the turn of the year, just about every investment manager was touting Europe as the place to be: give your portfolio a European vacation! There would be recovery. It already was looking [...]

The ADP/Moody's National Employment Report indicated that private nonfarm payrolls increased 178,000 during May following a downwardly revised 163,000 gain in April (was 204,000). A 188,000 rise had been expected in the Action [...]

Money and credit growth in the EMU area remain weak. There is a slight firming to trends in April but I emphasize the word 'slight.' There is no trend change and nothing to stoke new hopes or confidences. With the Italian crisis [...]

The Federal Reserve Bank of Dallas indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index improved to 26.8 during May after declining sharply in April to a five-month low, down from the February [...]

Consumers are taking heart from improving labor market conditions. The Conference Board Consumer Confidence Index rose to 128.0 in May (8.8% y/y) from 125.6 during April, initially reported as 128.7. The May level matched expectations [...]

New orders for durable goods fell 1.7% (7.8 y/y) during April following a 2.7% March increase, revised from 2.6%. Expectations had been for a 1.2% decline in the Action Economics Forecast Survey. A 6.1% decline (+7.7% y/y) in orders [...]

The IFO business climate gauge fell by 0.5% in May, marking two straight months of decline. However, the current conditions index continued to plow ahead as it has for many months signaling ongoing growth and expansion in the German [...]