Economy in Brief: April 2016

Consumer credit outstanding increased $17.2 billion during February (6.6% y/y) following a $14.9 billion January rise, revised from $10.5 billion. A $14.0 billion increase had been expected in the Action Economics Forecast Survey. [...]

While we wring our hands and gnash our teeth about what central banks are doing and the poor state of global growth, let's not forget about the internal dynamics of the EMU or about global risks. It's a very good time NOT to take our [...]

Initial unemployment insurance claims fell to 267,000 during the week ended April 2 from an unrevised 276,000 in the prior week. For the past year, claims have been near the lowest level since 1973. Expectations were for 270,000 [...]

The Mortgage Bankers Association reported that its total Mortgage Market Volume Index increased 2.7% last week (3.4% y/y), following three weeks of decline. Refinancing applications jumped 6.8% (-1.9% y/y) after six weeks of sharp [...]

German IP fell by 0.5% in February as manufacturing IP fell at the same pace. Both series continue to demonstrate acceleration profiles in output from 12-month to six-month to three-month. IP is up at a 6.8% annual rate over three [...]

The Mortgage Bankers Association reported that its total Mortgage Market Volume Index increased 2.7% last week (3.4% y/y), following three weeks of decline. Refinancing applications jumped 6.8% (-1.9% y/y) after six weeks of sharp [...]

Regular gasoline prices were little changed last week at $2.08 per gallon (-13.7% y/y) versus $2.07 in the prior week, according to the U.S. Department of Energy. The price compares to a 2014 high of $3.71 per gallon. Haver Analytics [...]

The job openings rate fell to 3.7% during February from 3.8% in the prior month, revised from 3.7%. The decline left the reading stuck in the sideways trend of the last ten months. The private sector job openings rate of 3.9% compared [...]