Economy in Brief

Initial claims for jobless insurance during the week ended June 3 fell to 245,000 (-8.7% y/y) following a rise to 255,000 during the prior week, revised from 248,000. Expectations called for 240,000 claims in the Action Economics [...]

Consumer credit outstanding grew $8.20 billion (5.8% y/y) during April following a $19.54 billion March gain, revised from $16.42 billion. February's rise also was raised to $16.49 billion from $13.75 billion. A $15.8 billion April [...]

The Mortgage Bankers Association reported that its total Mortgage Applications Volume Index increased 7.1% (-17.3% y/y) in the week ended June 2, after a 3.4% decline during the prior week. Purchase applications jumped 10.0% (4.8% [...]

German real orders fell by a sharp 2.1% in April, but after rising by 1.1% in March and by 3.5% in February. The monthly declines have rolled off German momentum like water off a duck's back. German total orders are still accelerating [...]

The Bureau of Labor Statistics reported that the total job openings rate increased to 4.0% during April and returned to its record high. Despite the increase, the hiring rate fell to 3.5%, its lowest level in 12 months. These figures [...]

Regular gasoline prices held at $2.41 per gallon last week (1.4% y/y), and were lower than the 2014 high of $3.71 per gallon. Haver Analytics constructs factors adjusting for the seasonal variation in gasoline pump prices. The [...]

It is odd how sales can be so weak and yet appear to be so firm. It a trick that retail sales in the EMU area seems to have been able to perform. Real sales are up by just 2.4% over 12 months and just 2.2% for nonfoods. Yet, three- [...]

Manufacturing sector orders eased 0.2% (+2.9% y/y) following a 1.0% gain, revised from 0.2%. Earlier figures were revised. Durable goods orders declined 0.8% (-0.1% y/y), revised from the advance report of a 0.7% fall. Transportation [...]