Economy in Brief

Inflation in the European Monetary Union continues to fall. In May the overall index for the EMU was flat after rising by just 0.1% in April and falling by 0.1% in March. The core reading excluding energy and unprocessed food fell by [...]

The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo improved to 49 this month from an unrevised from 45 in May. The latest figure was the highest since January and beat consensus expectations [...]

The Empire State Factory Index of General Business Conditions improved during June to 19.28 from 19.01 in May. The Federal Reserve Bank of New York reported that it was the highest level since June 2010 and beat expectations for a [...]

The current account surplus in the European Monetary Union increased slightly in April as imports fell more sharply than exports, which also fell. The recent report on EMU industrial production showed that the European Union is making [...]

The overall final demand Producer Price Index declined 0.2% (+2.0% y/y) during May following an unrevised 0.6% April increase. It was the first decline since February and compared to expectations for a 0.1% gain in the Action [...]

Retail and food service sales gained 0.3% during May following a 0.5% April advance, revised from 0.1%. A 0.5% increase had been expected in the Action Economics Forecast Survey. Sales of motor vehicles & parts increased 1.4% (10.4% [...]

Total business inventories increased 0.6% in April (5.0% y/y) after a 0.4% rise during March. It was the firmest monthly increase in six months. Merchant wholesale inventories jumped another 1.1% (6.7% y/y). Inventories in the factory [...]

Import prices nudged up 0.1% during May (0.4% y/y) following a 0.5% April decline, last month reported as -0.4%. A 0.2% increase had been expected in the Action Economics Forecast Survey. A 1.1% rise (3.0% y/y) in petroleum prices [...]