Economy in Brief

The Mortgage Bankers Association reported that its total Mortgage Applications Volume Index increased 4.7% last week (-1.4% y/y) and made up the prior week's decline. Purchase loan applications gain 2.4% (6.9% y/y) following a 1.8% [...]

Output per hour in the nonfarm business sector grew at an unrevised 3.0% annual rate (1.5% y/y) in the third quarter following a 1.5% Q2 gain. It was the quickest productivity increase in three years. A 3.3% rise had been expected in [...]

Germany now has a real string of order increases in train. There are increases in orders in October after gains in September and August. In addition, both foreign and domestic orders have a string of gains for three consecutive [...]

The ADP/Moody's National Employment Report indicated that private nonfarm payrolls increased 190,000 (2.0% y/y) during November following an unrevised 235,000 October gain. A 188,000 rise had been expected in the Action Economics [...]

EMU retail sales volumes are up in October by 0.3% after falling by 0.5% in September. The sequential growth rates from 12-months to six-months to three-months do not show any sign of pick up. Nonfood purchase volume has been stronger [...]

The U.S. trade deficit in goods and services increased to $48.7 billion in October from $44.9 billion in September, revised from $43.5 billion. A $46.6 billion deficit had been expected in the Action Economics Forecast Survey. Total [...]

Retail gasoline prices fell last week to $2.50 per gallon (+13.2% y/y) following a fall to $2.53 in the prior week. These prices were below the peak of $2.59 in the second week of November. Haver Analytics constructs factors adjusting [...]

The Composite Index of Nonmanufacturing Sector Activity from the Institute for Supply Management (ISM) declined to 57.4 during October from an unrevised 60.1 in September. It was lowest level in three months. The Action Economics [...]