- Korea: Housing Price Index (Apr)
- US: Consumer Sentiment (Apr-final), GDP (Q1 Adv), ECI (Q1)
- Consumer Sentiment Detail (Apr-final)
- US: Selected NIPA Tables (Q1-Adv), Summary key Source Data (Q1)
- Canada: GDP by Industry (Feb), Industrial Product Prices (Mar)
- *Taiwan National House Price Indexes Rebased to 2016=100.*
- Euro area: HICP (Apr-Flash), ECB Survey of Professional Forecasters (Q2)
- Italy: CPI, HICP (Apr-Prelim)
- Brazil: Sao Paolo Capacity Utilization (Mar);Mexico: Debt (Mar);
- more updates...
Economy in Brief
U.S. Employment Cost Index Has Stronger Gain
Lifted by outsized rises in several industries, the employment cost index for civilian workers rose 0.8% (2.4% y/y) during Q1'17...
Chicago Purchasing Managers Index Strengthens
The Chicago Purchasing Managers Business Barometer Index for April increased to 58.3 from 57.7 in March...
EMU Money and Credit Perk Up
There is some noticeable acceleration in EMU money and credit growth...
Durable Goods Orders Improvement Moderates
New orders for durable goods rose 0.7% (4.5% y/y) during March...
U.S. Initial Claims for Unemployment Insurance Increase
Initial unemployment claims for unemployment insurance rose to 257,000 during the week ended April 22...
U.S. Pending Home Sales Ease
The National Association of Realtors (NAR) reported that pending home sales slipped 0.8% ((+0.8% y/y) during March...
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|