- Weekly: **Unemployment Initial Claims Data have been revised**
- US: Housing Starts by State and Region (Feb)
- CPB World Trade Monitor (Jan)
- CPB World Trade Monitor (Jan)
- France: Registered Unemployed & Job Vacancies (Feb)
- US: Household Employment for States and Regions (Feb)
- US: Wholesale Trade Revisions, Advance Durable Goods (Feb)
- Manufacturing Survey - Markit US (Flash - Mar), Composite Survey - US (Flash - Mar), Services Survey - US (Flash - Mar)
- more updates...
Economy in Brief
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
Kansas City Federal Reserve Factory Index Strengthens; Expectations Surge
The Kansas City Fed reported that its index of regional manufacturing sector business activity increased to 20 during March...
U.S. Initial Unemployment Insurance Claims Rise
Initial claims for unemployment insurance increased to 258,000 (-3.0% y/y) during the week ended March 18...
U.K. Retail Looks Less Bulletproof
For the most part, the assessments embodied in the March survey from the UK's CBI are being taken as being upbeat...
by Tom Moeller August 2, 2016
Regular gasoline prices averaged $2.16 per gallon last week (-19.7% y/y), down two cents from the week earlier. Prices were 24 cents lower than early last month, according to the U.S. Department of Energy. Prices were down versus a 2014 high of $3.71 per gallon. Haver Analytics constructs factors adjusting for the seasonal variation in pump prices, and the adjusted price eased to $2.01 per gallon, the lowest level since mid-March.
WTI crude oil prices also moved down to $41.84 last week (-12.7% y/y) from $44.59 averaged in the prior week. They remained up, however, from February's daily low of $26.21 per barrel. Yesterday, prices declined to $40.06 per barrel. Brent crude oil prices declined w/w to $43.98 per barrel and were $42.21 yesterday.
Prices for natural gas strengthened to $2.81 per mmbtu (-1.4% y/y) last week, then rose further to $2.87 yesterday.
Last week, gasoline demand increased 2.6% y/y, while demand for all petroleum products edged 0.7% higher y/y. Gasoline inventories rose 11.8% y/y and inventories of all petroleum products increased a diminished 5.8% y/y. Crude oil production (input to refineries) eased 0.6% y/y in the last four weeks.
The energy price data are reported by the U.S. Department of Energy. The petroleum demand and inventory figures are from the Oil & Gas Journal Weekly. These data can be found in Haver's WEEKLY database. The daily figures are in DAILY and greater detail on prices, demand and production, along with regional breakdowns, are in OILWKLY.
|Weekly Energy Prices||08/01/16||07/25/16||07/18/16||Y/Y %||2015||2014||2013|
|Retail Gasoline ($ per Gallon, Regular)||2.16||2.18||2.23||-19.7||2.03||2.30||3.33|
|Light Sweet Crude Oil, WTI ($ per bbl., WSJ)||41.84||44.59||45.58||-12.7||48.90||93.64||97.96|
|Natural Gas ($/mmbtu, LA, WSJ)||2.81||2.76||2.77||-1.4||2.62||4.37||3.73|