Economy in Brief

Still an exceptionally strong report The IFO continues to show exceptionally strong readings. This month's Markit diffusion report also produced news of more strength in the industrial sector although the German services sector [...]

U.S. durable goods order plunged 6.8% in July, more than offsetting their 6.4% surge in June. Excluding transportation orders gained pace, rising by 0.5% in the month after gaining a thin 0.1% in June. Orders (ex-transportation) are [...]

Sales of existing homes fell 1.3% (+2.1% y/y) during July to 5.440 million units (AR) from a slightly revised 5.510 million in June. It was the lowest volume of sales since August 2016. Expectations were for 5.570 million sales in the [...]

The French industry climate gauge at 111.3 in August is up from 108.1 in July and at its highest reading since December 2007, logging its highest reading in nearly a decade. The industrial climate gauge standing is in the 77th [...]

Initial unemployment insurance applications rose to 234,000 (-10.0% y/y) during the week ended August 19 from an unrevised 232,000 during the prior week. Expectations in the Action Economics Forecast Survey were for 238,000 claims. [...]

Sales of new single-family homes in July fell 9.4% to 571,000 following an upwardly revised June gain of 1.9% to 630,000. The latter was revised from 610,000. The July volume was the lowest since December's 548,000. Expectations in [...]

In the EMU, manufacturing carries the day to move the sticks higher for the overall PMI gain as the service sector reading steps backward in August. The EMU manufacturing gauge gained 0.8 points in August while the services gauge lost [...]

Regular gasoline prices edged down 2 cents in the week ended August 21 to $2.36 per gallon (7.6% y/y), remaining below the recent high of $2.45 per gallon in late-April. Haver Analytics constructs factors adjusting for the seasonal [...]