Economy in Brief: July 2006

US retail sales fell 0.1% last month following an unrevised 0.1% up tick during May. It was the first m/m decline since February and it resulted in a 3.7% (AR) increase for 2Q after the 13.4% jump the prior quarter. Consensus [...]

We continue to marvel at the low non-energy inflation rates in many countries. Today, June CPI was reported by two major countries, France and Germany, and the year-on-year pace excluding energy remains quite modest in both. For [...]

The U.S. federal government ran a budget surplus in June, as it usually does. The as expected figure of $20.5B narrowed the FY06 to-date budget deficit to $206.5B versus a deficit of $249.4B during the first nine months of FY05. [...]

Initial claims for unemployment insurance jumped 19,000 to 332,000 last week after an unrevised 2,000 slip during the prior week. Consensus expectations had been for a lesser gain to 320,000 claims. The Labor Department indicated that [...]

Initial claims for unemployment insurance jumped 19,000 to 332,000 last week after an unrevised 2,000 slip during the prior week. Consensus expectations had been for a lesser gain to 320,000 claims. The Labor Department indicated that [...]

In the April accounting period for the UK labor force survey (3-month average, March through May) employment gave up some of its prior periods' gains. It had done nicely for the five month-to-month readings beginning in November, [...]

The total number of mortgage applications added 1.0% last week to the prior week's 5.9% gain. The rise lifted applications early in July 2.5% above the June average which fell 1.5% from May. Purchase applications increased 2.6% and [...]

The U.S. foreign trade deficit in May again deepened less than expected. The deficit of $63.8B compared to a little revised April gap of $63.3B and Consensus expectations for $64.9B. During the first five months of 2006 the foreign [...]