Economy in Brief: 2012

Service sector activity continued to improve last month and was at its highest level since last February. The Composite Index for the service and construction sectors from the Institute for Supply Management (ISM) rose to 57.3 in [...]

German retail sales ex-autos have fallen for three straight months and have not risen in four months. In nominal terms sales are falling at a 6.4% annual rate but are dropping at a faster 7.1% annual rate in real terms. The [...]

Sales of light motor vehicles continued on the fast track last month. Unit vehicle sales rose 6.5% m/m to 15.10M (AR) during February according to Autodata Corporation. That sales rate was up 13.7% versus one year earlier and was the [...]

The MFG PMI advanced in EMU on the month but not by much and amid churning trends. The MFG readings in Germany, Spain and Greece stand lower on the month. Among EMU nations only Germany, Austria and the Netherlands show outright [...]

Job market improvement is continuing. Initial unemployment insurance claims slipped last week at 351,000. The previous week was revised slightly higher to 353,000. The recent figures are the lowest since March 2008. Claims averaged [...]

After several months of strong increase, construction spending slipped in January. The 0.1% decline followed a 1.4% December rise and a 1.9% November gain that was revised up sharply. Gains in the Summer also were solid. Consensus [...]

Forward momentum in factory sector activity waned a bit last month. The Composite Index of industrial sector activity from the Institute For Supply Management slipped to 52.4 from an unrevised 54.1 in January. The latest reading [...]

Individuals' wherewithal to spend diminished last month, so they didn't. Disposable personal income increased a scant 0.1% (2.3% y/y) as taxes jumped 1.6% (8.7% y/y). Adjusted for prices, disposable income slipped 0.1% m/m (+0.6% [...]