Economy in Brief: November 2020

The OECD LEIs remained below 100 in October as they have been for a series of months. Only China poked its head up above the key 100 level in October. China’s index was last above 100 in January 2018. The United States was last above [...]

• Metals and textile prices improve. • Crude oil costs ease. The Industrial Materials Price Index from the Foundation for International Business and Economic Research (FIBER) increased 1.7% (3.5% y/y) during the last four weeks. The [...]

• Nonrevolving borrowing jumps. • Credit card balances resume their increase. Consumer credit outstanding increased $16.2 billion (0.4% y/y) during September following a $6.9 billion August decline, revised from $7.2 billion. A $7.7 [...]

• Private sector hiring picks up. • Earnings growth remains subdued. • Jobless rate declines to seven-month low. Nonfarm payroll employment increased 638,000 during October (-6.0% y/y) after rising 672,000 in September, revised from [...]

German industrial output rose by 1.6% in September, faster than its 0.5% rise in August, keeping the expansion in output and recovery on track. German output is accelerating from 12-months to six-months to three-months and it is [...]

• Inventories increased 0.4% while sales ticked up 0.1% in September. • Wholesale inventory-to-sales ratio unchanged at 1.31. Wholesale inventories grew a greater-than-expected 0.4% in September (-3.9% year-over-year). The Informa [...]

• Private sector hiring picks up. • Earnings growth remains subdued. • Jobless rate declines to seven-month low. Nonfarm payroll employment increased 638,000 during October (-6.0% y/y) after rising 672,000 in September, revised from [...]

• State initial claims continued their downward trend. • Federal Pandemic Unemployment Assistance new filers rose for third week. • Continuing claims fell for state and PUA, while PEUC continues upward march. Seasonally adjusted state [...]