Economy in Brief

The Mortgage Bankers Association reported that its total Mortgage Applications Index declined 4.0% (-16.4% y/y) last week to the lowest level since December 2014. The decline followed a 2.5% shortfall in the prior week. Purchase loan [...]

The Bureau of Labor Statistics reported that the total job openings rate fell to 4.5% in September from the record of 4.7% in August, revised from 4.6%. The job openings rate is the job openings level as a percent of total employment [...]

German (real seasonally adjusted) orders rose by 0.3% in September after a 2.5% gain in August. Orders rose for two months in a row for the first time since December when orders completed a run of five consecutive increases. January [...]

Gasoline prices fell last week to an average $2.75 per gallon (+7.5% y/y) from $2.81 during the prior week. It was the lowest price since mid-April. Prices peaked at $2.96 late in May. Haver Analytics constructs factors to adjust for [...]

U.K. manufacturing has been losing momentum from late 2017. The services sector has fluctuated in a relatively narrow range since late 2016 with a minor eroding trend. In October, the composite index backtracked to 52.1 from 54.1, a [...]

The Composite Index of Nonmanufacturing Sector Activity from the Institute for Supply Management (ISM) backpedaled to 60.3 during October following a jump to 61.6 in September. The Action Economics Forecast Survey expected a greater [...]

The U.S. trade deficit in goods and services widened further to $54.02 billion in September from a slightly upwardly revised $53.31 billion in August. This was the largest deficit since February. A deficit of $53.4 billion had been [...]

Euro area manufacturing is turning lower while the Markit reading for the U.S. turns higher. The Market manufacturing PMI for Europe fell to 52.0 in October while the U.S. Markit reading rose to 55.6 from 54.7. The more closely [...]