Economy in Brief

The National Association of Realtors reported that sales of existing homes increased 5.6% (3.8% y/y) to 5.810 million (AR) during November. It was the highest level of sales since December 2006. The rise followed a little-revised 2.4% [...]

The EMU current account and trade surpluses contracted in October with the current account falling to 30.8 billion euros from 39.15 billion euros and the trade surplus falling to 19.0 billion euros from 24.5 billion euros. The balance [...]

The U.S. current account deficit narrowed sharply to $100.6 billion during Q3 2017 from $124.4 billion in Q2. It was the smallest deficit in three years. The Q3 deficit figure compared to $116.8 billion expected in the Action [...]

According to an old expression, 'trees do not grow to the sky.' In that spirit, it can't be 'surprising' that despite strong growth and solid improving conditions in the German economy, the IFO index stepped back this month. Only [...]

Retail gasoline prices fell to $2.45 per gallon (+8.2% y/y) last week, down for the fifth straight week. Haver Analytics constructs factors adjusting for the seasonal variation in gasoline pump prices. At $2.74 per gallon, the [...]

Total housing starts rose 3.3% (12.1% y/y) during November to 1.297 million units (SAAR) from 1.256 million in October, revised from 1.290 million. The latest level was the highest since October 2016. A level of 1.250 million starts [...]

Central banks have fallen into particular groups according to the environment in which they make policy. The European Central Bank and the Federal Reserve are in one group. That group faces ongoing and perhaps accelerating economic [...]

The housing market remains in good shape. The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo increased 7.2% to 74 during December, the highest level since July 1999, up 7.2% y/y. Expectations [...]