Economy in Brief: 2017

EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower. Real balances (inflation adjusted month and credit) show slow and slowing money and credit growth with credit growth [...]

The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart. The queue rankings mark most of this month's readings as this strong or stronger only about 1.6% of the time (since January 2012); [...]

The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims. The department has detected an incorrect application of seasonal factors. Seasonally adjusted series in [...]

New orders for durable goods rose 1.7% (5.0% y/y) during February following a 2.3% January gain, initially reported as 1.8%. A 1.2% increase in orders had been expected in the Action Economics Forecast Survey. The headline rise in [...]

For the most part, the assessments embodied in the March survey from the UK's CBI (Confederation of British Industry) are being taken as being upbeat. But I see a bit too much complacency in that spin. Reported sales, compared to one [...]

The Federal Reserve Bank of Kansas City reported that its index of regional manufacturing sector business activity increased to 20 during March from an unrevised 14 in February. It was the highest level since March 2011. Strength in [...]

Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR) from January's 558,000, revised from 555,000. Expectations had been for 565,000 sales in the Action Economics Forecast Survey. The [...]

Initial claims for unemployment insurance increased to 258,000 (-3.0% y/y) during the week ended March 18 from 243,000 in the prior week, revised from 241,000. The latest level was the highest in seven weeks. Expectations had been for [...]