Economy in Brief: 2016

The Consumer Price Index fell an expected 0.2% during February (+1.0% y/y) following no change in January. A 6.0% decline (-12.5% y/y) in energy prices accounted for the bulk of the downward pressure. Excluding both food & energy, [...]

Housing starts jumped up 5.2% (30.9% y/y) in February to 1.178 million units at an annual rate. There were also upward revisions to both December and January figures, months in which starts had fallen. The February reading exceeded [...]

Total business inventories edged up 0.1% m/m (1.8% y/y) during January following no change in December, revised from 0.1%. Total business sales fell 0.4% m/m (-1.1% y/y), the fourth consecutive month of decline. Retail inventories [...]

Regular gasoline prices added to recent gains, and rose last week to $1.96 per gallon (-20.1% y/y) from $1.84 in the prior week. It was the highest price since mid-January, according to the U.S. Department of Energy. The price [...]

The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo held steady m/m at 58, the lowest level in nine months. The NAHB figures are seasonally adjusted. During the last ten years, there has been [...]

The Empire State Factory Index of General Business Conditions rebounded strongly this month. The New York index surged to 0.62 from -16.64 in February. It was the first positive reading since July. Expectations had been for -12.0 in [...]

French inflation has turned to the dark side, showing persisting deflation and going deeper down the rabbit hole of deflation. Prices are now falling for two months in a row, as even the domestic measure, the CPI ex-energy, is [...]

Retail spending showed little strength in the latest Commerce Department report. Total retail sales & spending at food services eased 0.1% in February (+6.2% y/y) after a 0.4% January decline, last month reported as a 0.2% increase. [...]