Economy in Brief

The Chicago Purchasing Managers Business Barometer rebounded sharply in May, with the index reaching 62.7 following readings near 57.5 in March and April. The Action Economics Forecast Survey had anticipated only a modest rise to [...]

Personal consumption expenditures increased 0.6% during April (4.7% y/y) following a 0.5% March rise, revised from 0.4%. It was the strongest monthly increase since November. A 0.4% rise had been expected in the Action Economics [...]

Initial unemployment insurance claims fell to 221,000 (-12.6% y/y) during the week ended May 26 following an increase to 234,000 during the prior week, which was not revised. Expectations in the Action Economics Forecast Survey were [...]

Retail gasoline prices rose to $2.96 per gallon last week (23.1% y/y) from $2.92 per gallon during the prior week. It was the highest price level since November 2014. Haver Analytics constructs factors adjusting for the seasonal [...]

U.S. economic growth slowed a bit more than initially estimated in Q1'18. Real gross domestic product grew at a 2.2% annual rate, revised from 2.3% estimated initially. The rise followed 2.9% growth during Q4'17. A 2.3% increase had [...]

Suddenly, the euro area is in turmoil. At the turn of the year, just about every investment manager was touting Europe as the place to be: give your portfolio a European vacation! There would be recovery. It already was looking [...]

The ADP/Moody's National Employment Report indicated that private nonfarm payrolls increased 178,000 during May following a downwardly revised 163,000 gain in April (was 204,000). A 188,000 rise had been expected in the Action [...]

Money and credit growth in the EMU area remain weak. There is a slight firming to trends in April but I emphasize the word 'slight.' There is no trend change and nothing to stoke new hopes or confidences. With the Italian crisis [...]