Economy in Brief: January 2014

Weather may have been a factor, but nonfarm payroll employment growth of 74,000 (1.6% y/y) during December was well short of gains of 241,000 and 200,000 during the prior two months. The rise disappointed consensus expectations for [...]

A number of European countries now have reported industrial production in the outturn appears to show relatively widespread improvement. If we look at the 12-month gains of the eight EMU members in the table and the three non-members, [...]

Weather may have been a factor, but nonfarm payroll employment growth of 74,000 (1.6% y/y) during December was well short of gains of 241,000 and 200,000 during the prior two months. The rise disappointed consensus expectations for [...]

Industrial production in Germany rose by 1.9% in November. This rise reflects a reversal from the decline in October from the drop in September. Over three months industrial production in Germany is now flat; it is rising by 5.4% at [...]

The outplacement firm of Challenger, Gray & Christmas reported that job cut announcements fell to 30,623 (-5.9% y/y) during December. It was the lowest level since June 2000. Layoffs fell m/m the retail, transportation, food, energy, [...]

Initial claims for unemployment insurance slipped to 330,000 during the week ended January 4 from 345,000 in the prior week, revised from 339,000. It was the lowest level since the last week of November. Expectations had been for [...]

The Federal Reserve Board reported that consumer credit outstanding increased by $12.3 billion (6.1% y/y) during November following an unrevised $18.2 billion October gain. Expectations had been for a $14.5 billion increase, according [...]

The Mortgage Bankers Association reported that their total mortgage market index improved 2.6% last week (-52.5% y/y) but remained near the lowest level since late-2000. Applications to refinance existing loans gained 4.6% last week [...]