Economy in Brief: December 2020

The chart, presenting the year-on-year trade flow percent changes and the monthly trade balance, offers a good perspective on the forces and timing of events affecting the German trade situation. The surplus reached its low point in [...]

• Mortgage rates decline to another record low. • Refinancing applications rise moderately. The Mortgage Bankers Association Mortgage Loan Applications Index declined 1.2% in the week ended December 4 (+59.4% y/y) and added to the [...]

The economic situation in December is assessed as mixed by the ZEW experts with two regions (the EMU and France) deemed stronger and the rest weaker. Economic expectations are firmer across the board, however. Inflation is seen as [...]

• Growth in output per hour remains firm for second straight quarter. • Unit labor cost decline is lessened. Nonfarm business sector productivity increased 4.6% (SAAR) during Q3'20, revised from 4.9%, during Q3'20 following a 10.6% Q2 [...]

• NFIB Small Business Optimism fell to lowest level in three months. • Economic growth worries surge. • Pricing gauges continue to strengthen. The National Federation of Independent Business' (NFIB) Small Business Optimism Index [...]

• Gasoline prices reach eight-week high. • Crude oil costs strengthen to highest level since March. • Natural gas prices are trending higher. The price of regular gasoline increased four cents last week to $2.16 per gallon (-15.8% [...]

The National Association for Business Economics raised its projection for real GDP growth in 2021 to 3.8% from 3.6%. This follows a record recession this year, with GDP expected to contract 3.5%, versus the prior forecast of a 4.3% [...]

Germany's industrial production gained 3.2% in October after a 2.3% rise in September to put together two strong months of results. Sequential growth rates show IP up at very strong rates of change over both three months and six [...]