Econbrowser

Econbrowser

The Econbrowser column focuses on macroeconomics, financial markets, economic data, and policy analysis, making it useful for users who follow economic cycles and market trends.

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Diesel 22.5% above Pre-War

Diesel 22.5% above Pre-War

Oil (Brent) prices down, and so too gasoline and diesel. But not back to pre-War. Figure 1: Brent avg of daily (black), regular gasoline (blue), and diesel (red

Bubbles or Regime-Switching in Gold and Bitcoin?

Bubbles or Regime-Switching in Gold and Bitcoin?

I don’t have the answer, but the two series do make quite a picture (all in logs since five years ago): Figure 1: Log difference from 6/29/2021 in bitcoin (green

Alternative Business Cycle Indicators: Coincident, Consensus ADP

Alternative Business Cycle Indicators: Coincident, Consensus ADP

Coincident continues to rise through May, while Bloomberg consensus for NFP growth is for +114K, roughly same growth rate as in May: Figure 1: Civilian employment

Brent More Contango-ey

Brent More Contango-ey

As of NYMEX open: This has occurred as the chances of a near term reopening have declined. Notes: August 1 (orange), September (blue), October (green). Source:

Rate Cycles (Where Are We Now?)

Rate Cycles (Where Are We Now?)

I’ve been remiss in reporting on this important work by Kristin Forbes, Jongrim Ha and Ayhan Kose, documenting periods of monetary policy tightening ad loosening

Brent in Contango

Brent in Contango

As of yesterday: Source: Barchart, accessed 6/27/2026. Literally, prices are higher near future than front month, which is different from backwardation (which was

Instantaneous PCE Inflation

Instantaneous PCE Inflation

Nowcasted June inflation will be down — but for core not down much… Figure 1: Headline PCE deflator instantaneous inflation (blue), core PCE (tan), per Eeckhout

Four Measures of Output: GDP, GDI, GDO, GDP+

Four Measures of Output: GDP, GDI, GDO, GDP+

As of the 2026Q1 3rd release: Figure 1: GDP (bold black), GDI (red), GDO (blue), GDP+ growth iterated on 2022Q2 GDP (green), all in bn.Ch.2017$ SAAR. Source: BEA

June (Final) Consumer Sentiment

June (Final) Consumer Sentiment

Beats consensus/preliminary (49.5 vs. 48.9), rising above May final (44.8) — but still low: Figure 1: U.Michigan Economic Sentiment (blue), Conference Board Confidence

Consensus on Canadian GDP

Consensus on Canadian GDP

The Financial Post reports: Economists in a Bloomberg survey now see Canada’s economy expanding just 0.7% this year after shrinking in the first quarter. Here’s