Economy in Brief: November 2018

Germany's industrial production rose by 0.2% in September as manufacturing output was flat. Overall IP gained 0.8% over 12 months while manufacturing gained only 0.2%. Still, IP is growing and the PMI signal from the Markit gauge is [...]

The Mortgage Bankers Association reported that its total Mortgage Applications Index declined 4.0% (-16.4% y/y) last week to the lowest level since December 2014. The decline followed a 2.5% shortfall in the prior week. Purchase loan [...]

The Bureau of Labor Statistics reported that the total job openings rate fell to 4.5% in September from the record of 4.7% in August, revised from 4.6%. The job openings rate is the job openings level as a percent of total employment [...]

German (real seasonally adjusted) orders rose by 0.3% in September after a 2.5% gain in August. Orders rose for two months in a row for the first time since December when orders completed a run of five consecutive increases. January [...]

Gasoline prices fell last week to an average $2.75 per gallon (+7.5% y/y) from $2.81 during the prior week. It was the lowest price since mid-April. Prices peaked at $2.96 late in May. Haver Analytics constructs factors to adjust for [...]

U.K. manufacturing has been losing momentum from late 2017. The services sector has fluctuated in a relatively narrow range since late 2016 with a minor eroding trend. In October, the composite index backtracked to 52.1 from 54.1, a [...]

The Composite Index of Nonmanufacturing Sector Activity from the Institute for Supply Management (ISM) backpedaled to 60.3 during October following a jump to 61.6 in September. The Action Economics Forecast Survey expected a greater [...]

The U.S. trade deficit in goods and services widened further to $54.02 billion in September from a slightly upwardly revised $53.31 billion in August. This was the largest deficit since February. A deficit of $53.4 billion had been [...]