Economy in Brief

Output per hour in the nonfarm business sector improved at a 0.9% annual rate in the second quarter following a 0.1% uptick in the first quarter. A 0.7% rise had been expected in the Action Economics Forecast Survey. Output rose 3.4% [...]

Regular gasoline prices rose to $2.38 per gallon last week (10.6% y/y) from $2.35 in the prior week. They remained down, however, from the high of $2.45 per gallon in late-April. Haver Analytics constructs factors adjusting for the [...]

The Bureau of Labor Statistics reported that the total job openings rate rose to 4.0% during June from 3.8% in May, revised from 3.7%. It was the highest level since last July, equaling the record. Despite the increase, the hiring [...]

The German trade surplus, once looking like it was diminishing, is now riding a seven-month trend to high values. The surplus on the trade account in June is only marginally higher than in February of this year and was last this large [...]

The National Federation of Independent Business reported that its Small Business Optimism Index jumped 1.6 points to 105.2 during July and reversed several months of decline. The latest level was the highest since February. A [...]

Consumer credit outstanding grew $12.40 billion during June following an $18.30 billion May increase, revised from $18.42 billion. A $15.8 billion June increase had been expected in the Action Economics Forecast Survey. During the [...]

Germany's industrial production took an unexpected step lower in June, but its upward thrust is still in place with only the sense of relentless momentum diminished. German IP is now up by 2.5% over 12 months, at a 7.7% pace over six [...]

Nonfarm payrolls rose 209,000 (1.5% y/y) during July. A 181,000 increase had been expected in the Action Economics Forecast Survey. The rise followed gains of 231,000 in June and 145,000 in May. Together these figures were revised up [...]