Economy in Brief

Industrial production improved 0.2% during July (2.2% y/y) following an unrevised 0.4% June gain. A 0.3% increase had been expected in the Action Economics Forecast Survey. A 1.6% rise (-0.7% y/y) in utilities output accounted for [...]

The Conference Board's Composite Index of Leading Economic Indicators increased 0.3% m/m (3.9% y/y) in July following an unrevised 0.6% m/m rise in June. A 0.3% monthly rise had been expected in the Action Economics Forecast Survey. [...]

The Philadelphia Federal Reserve reported that its General Factory Sector Business Conditions Index slipped to 18.9 during August, furthering its July decline to 19.5. It was the lowest reading since November. The figure compared to [...]

GDP growth strengthens in Europe. Not only is GDP growth strengthening for the EMU as a whole, the sense of firming growth is spreading within the community. Better...but is 'better' good enough? EMU growth is up to 2.5% annualized [...]

The Mortgage Bankers Association reported that its total Mortgage Applications Volume Index ticked 0.1% higher (-22.6% y/y) in the week ended August 11 following a 3.0% rise in the prior week. Applications to refinance improved 1.6% [...]

Regular gasoline prices held w/w at $2.38 per gallon last week (10.9% y/y) and remained below the high of $2.45 per gallon in late-April. Haver Analytics constructs factors adjusting for the seasonal variation in gasoline pump prices. [...]

Total housing starts fell 4.8% to 1.155 million units (AR, -5.4% y/y) during July. That reversed most of June's rise to 1.213 million units, revised from 1.215 million. Starts of 1.220 million had been expected in the Action Economic [...]

The Brexit vote has thrown the U.K. economy into a tizzy as everyone is well aware. And while the government will have to conduct the actual exit negotiations, nowhere has dealing with Brexit and its new and yet unknown realities [...]