Economy in Brief: May 2006

The total number of mortgage applications fell another 5.8% last week. It was the fourth decline during the last five weeks and pulled the opening level in May 2.0% below April which fell 1.1% from the March average. Purchase [...]

The Federal Open Market Committee raised the target interest rate for Federal funds 25 basis points to 5.00% at today's meeting. This sixteenth 25 basis point increase since June of 2004 was the result of a unanimous decision and was [...]

March industrial production in Germany fell 2.4% in contrast to expectations of a small rise. The decline was the biggest monthly fall since June, 2000. Excluding construction, which declined by 14.5%, production still declined by [...]

Chain store sales slipped 0.4% last week, according to the International Council of Shopping Centers (ICSC)-UBS survey. The decline, however, followed several heady gains during April. Therefore, the opening level of May sales was [...]

Small business optimism in April recovered most of the prior month's decline with a 2.1% rise, according to the National Federation of Independent Business (NFIB). During the last ten years there has been a 70% correlation between the [...]

Small business optimism in April recovered most of the prior month's decline with a 2.1% rise, according to the National Federation of Independent Business (NFIB). During the last ten years there has been a 70% correlation between the [...]

TheDirectorate-General for Economic and Financial Affairs of the European Commission released its Spring 2006 Economic Forecasts. The complete document can be found here. Forecasts for 2006 and 2007 are given for the twenty-five [...]

The disappointing 138,000 rise in nonfarm payrolls during April generated questions. Was it typical of a series sometimes buffeted by aberrant forces, both real & statistical, or was there a fundamental pressure newly exposed? The [...]