Economy in Brief: January 2020

The Federal Reserve Bank of Philadelphia reported that its General Factory Sector Business Conditions Index surged to 17.0 during January, the highest level since May of last year. An index of 3.0 had been expected in the Action [...]

Total business inventories increased 0.2% (3.1% y/y) during October following a 0.1% September dip, revised from 0.0%. Total business sales eased 0.1% both m/m and y/y after a 0.4% September decline, revised from -0.2%. The inventory- [...]

The latest readings of labor market conditions were mixed. Initial claims for jobless insurance declined 9,000 to 214,000 (-3.2% y/y) in the week ended January 4......... Continuing claims for unemployment insurance in the week ended [...]

• Import prices rose 0.3% in December as fuel prices jumped 2.8%. Excluding fuels, import prices were unchanged. • Export prices declined 0.2%. Rounding at lower levels of the aggregation of the price index accounted for a larger [...]

Total retail sales including food service establishments increased 0.3% (5.8% y/y) during December following a 0.3% November gain, revised from 0.2%. The increase matched expectations in the Action Economics Forecast Survey. Retail [...]

Initial claims for unemployment insurance decreased 10,000 to 204,000 (-6.0% y/y) in the week ended January 11 from 214,000 in the prior week, which was unrevised. It was the fifth straight weekly decline. The Action Economics [...]

The Mortgage Bankers Association reported that its Mortgage Loan Index jumped 30.2% w/w (49.0% y/y) in the week ending January 10 on top of a 13.5% w/w rise in the previous week. Applications to refinance a loan surged 42.7% w/w [...]

EMU area IP remains weak EMU area output gained just 0.2% in November after a 0.9% decline in October. Total output has negative growth rates over 12 months, six months and three months. The rate of decay of IP is not progressing, but [...]