Economy in Brief

Consumers were in a shopping mood last month. Total retail sales increased 0.8% (5.9% y/y) during May following a 0.4% April gain, revised from 0.3%. It was the strongest monthly increase since November. A 0.4% rise had been expected [...]

Back in the high-life again? Inflation in Germany now exceeds the 2% mark. Inflation in the Euro Area at 1.9% is pretty much dead on target. The Euro-index has climbed to target quickly. In February it had sunk to a Year-on-Year [...]

Import prices increased 0.6% during May (4.3% year-on-year), the second consecutive monthly growth of that magnitude; April's gain was revised higher. A 0.4% rise had been expected in the Action Economics Forecast Survey. These [...]

The headline Final Demand Producer Price Index using new methodology jumped 0.5% (3.1% y/y) during May following an unrevised 0.1% uptick in April. A 0.3% increase had been expected in the Action Economics Forecast Survey. The PPI [...]

At today's meeting of the Federal Open Market Committee, the federal funds rate target was increased to a range between 1.75% and 2.00%. The financial markets had expected today's action as indicated in the Action Economics Forecast [...]

The Mortgage Bankers Association reported that its total Mortgage Applications Volume Index fell 1.5% last week (-17.5% y/y), following a 4.1% increase during the prior week. The effective interest rate on a 15-year mortgage increased [...]

Industrial production in EMU is looking very weak. It is fair to say that no matter how you look at it, it is exceptionally weak. In April as well as over three-months there are output declines in all sectors. Of the eleven EMU [...]

The headline Final Demand Producer Price Index using new methodology jumped 0.5% (3.1% y/y) during May following an unrevised 0.1% uptick in April. A 0.3% increase had been expected in the Action Economics Forecast Survey. The PPI [...]