Economy in Brief: June 2017

The Mortgage Bankers Association reported that its total Mortgage Applications Volume Index increased 7.1% (-17.3% y/y) in the week ended June 2, after a 3.4% decline during the prior week. Purchase applications jumped 10.0% (4.8% [...]

German real orders fell by a sharp 2.1% in April, but after rising by 1.1% in March and by 3.5% in February. The monthly declines have rolled off German momentum like water off a duck's back. German total orders are still accelerating [...]

The Bureau of Labor Statistics reported that the total job openings rate increased to 4.0% during April and returned to its record high. Despite the increase, the hiring rate fell to 3.5%, its lowest level in 12 months. These figures [...]

Regular gasoline prices held at $2.41 per gallon last week (1.4% y/y), and were lower than the 2014 high of $3.71 per gallon. Haver Analytics constructs factors adjusting for the seasonal variation in gasoline pump prices. The [...]

It is odd how sales can be so weak and yet appear to be so firm. It a trick that retail sales in the EMU area seems to have been able to perform. Real sales are up by just 2.4% over 12 months and just 2.2% for nonfoods. Yet, three- [...]

Manufacturing sector orders eased 0.2% (+2.9% y/y) following a 1.0% gain, revised from 0.2%. Earlier figures were revised. Durable goods orders declined 0.8% (-0.1% y/y), revised from the advance report of a 0.7% fall. Transportation [...]

The National Association for Business Economics expects 2.4% real U.S. economic growth in 2018, revised slightly from the earlier expectation of 2.5% growth. These follow expected growth of 2.2% this year, revised from 2.3%. Quarterly [...]

All the composite PMI gauges in the table show growth in May. This is the second month in a row for which this is true. In March Hong Kong showed contraction; in February, Brazil and Hong Kong showed contraction. Still, out of the 14 [...]