U.S. Economic Developments

U.S. Housing Starts Rebound Sharply during October

11/17/17: Data released today by the U.S. Department of Commerce indicate that initial construction on new U.S. homes (new housing starts) rose sharply during October after declining during each of the three prior months....

Small Business Optimism Index Rebounds Modestly

11/14/17 The National Federation of Independent Business reported today that its Small Business Optimism Index, which is based on monthly surveys of thousands of small business owners throughout the United States, rose modestly...

U.S. Economic Sentiment Worsens during Early November

11/10/17: The University of Michigan reported today that its early-November survey of Americans regarding their personal financial situations, job prospects and outlook for the U.S. economy worsened during the first two weeks of...

Productivity Increases Sharply While Unit Labor Costs Decline

11/02/17: Data released today by the U.S. Department of Labor indicate that business productivity – the output per hour of companies’ employees – rose sharply, while unit labor costs – business’s hourly labor costs to produce...

Personal Spending Rebounds Modestly as Incomes Stagnate

10/30/17: The U.S. Department of Commerce reported today that personal spending in the United States rebounded modestly during September after declining during the prior month. Specifically, the Department of Commerce reported...

Pending Home Sales Fall to Lowest Level since January 2015

10/26/17: The National Association of Realtors reported today that the number of contracts signed by prospective homebuyers to purchase a previously-owned U.S. home – pending home sales – declined during September to the lowest...

New Home Sales Rise to Highest Level since October 2007

10/25/17: The U.S. Department of Commerce reported today that sales of new U.S. homes rose sharply during September, increasing to the highest level since October 2007. Specifically, the Commerce Department reported that new...

Existing Home Sales Rebound Modestly during September

10/20/17: The National Association of Realtors (“NAR”) reported today that sales of previously-owned U.S. homes – existing home sales – rose modestly during September after declining during each of the three prior months....

U.S. Industrial Production Rebounds during September

10/17/17: The U.S. Department of Commerce reported today that industrial production at U.S. factories, mines and utilities rebounded during September, after declining during each of the two prior months, rising by 0.3%, as...

U.S. Producer Prices Rise during September

10/12/17: The U.S. Department of Labor reported today that the price of a broad group of raw materials, such as industrial metals, lumber and crude oil, rose during September, with its Producer Price Index increasing by 4.1%, as...

Mortgage Applications Fall for Fourth Consecutive Week

10/11/17: The Mortgage Bankers Association reported this morning that mortgage applications fell for the fourth consecutive week during the week ended October 6, declining by 2.1% as compared to the prior week. Home Sales Headed...

Small Business Optimism Falls Sharply during September

10/10/17: The National Federation of Independent Business reported today that its Small Business Optimism Index, which is based on surveys of hundreds of small business owners throughout the United States, fell sharply during...

U.S. Economy Experiences 33,000 Job Losses during September

10/06/17: The U.S. Department of Labor reported this morning that the U.S. economy experienced 33,000 job losses, on a seasonally-adjusted basis, during September. That’s the first time since September 2010 that the U.S. has...

U.S. Factory Orders Rebound during August

10/05/17: Data released today by the U.S. Department of Commerce indicate that new orders for goods produced by U.S. factories – factory orders – rebounded modestly during August, the latest month for which data are available....

U.S. Auto Sales Rise Sharply during September

10/03/17: AutoData Corporation reported today that sales of automobiles in the United States rose during September to the highest level since July 2005. Specifically, AutoData reported that U.S. auto sales rose last month by...

ISM Purchasing Managers Index Rises Sharply

10/02/17: The Institute of Supply Management (“ISM”) reported this morning that its September survey of purchasing managers at U.S. manufacturing companies indicates that manufacturing activity in the United States rose sharply...

Personal Spending Declines during August, as Incomes Fall

09/29/17: Data released today by the U.S. Department of Commerce indicate that Americans continued to rein in their spending today, as their incomes declined. Specifically, the Department of Commerce reported that, on an...

U.S. Second Quarter GDP Revised Slightly Higher

09/28/17: The U.S. Department of Commerce reported today that the United States’ economy grew at a slightly faster pace for the quarter ended June 30, 2017 than it had estimated previously. Specifically, the Department of...

New Home Sales Decline for Second Consecutive Month

09/26/17: The U.S. Department of Commerce reported today that sales of newly-constructed U.S. homes (“new home sales”) declined for the second consecutive month during August, with those sales falling to the lowest level since...

Existing Home Sales Decline for Third Consecutive Month

09/20/17: The National Association of Realtors (“NAR”) reported this morning that sales of previously-owned U.S. homes – existing home sales – declined for the third consecutive month during August. Specifically, the NAR...

New U.S. Housing Starts Decline for Second Consecutive Month

09/19/17: Data released today by the U.S. Department of Commerce indicate that initial construction on new, privately-owned U.S. homes – new housing starts – declined for the second consecutive month during August after peaking...

Initial Claims for Unemployment Benefits Rise Sharply

09/14/17: Data released today by the U.S. Department of Labor indicate that initial claims for unemployment benefits rose over the past two weeks to the highest level since the week ended April 18, 2015. On a four-week moving...

U.S. Non-Manufacturing Sector Rebounds Modestly during August

09/06/17: The Institute of Supply Management (“ISM”) reported today that its August survey of executives at U.S. non-manufacturing companies indicates that economic activity in the services sector of the U.S. economy rebounded...

U.S. Employment Situation Mixed, Job Creation Declines

09/01/17: Data released today by the U.S. Department of Labor indicate that U.S. employers created a fewer number of jobs for the second consecutive month during August. Specifically, the Department of Labor reported that U.S....

U.S. Durable Goods Orders Fall Sharply during July

08/25/17: The U.S. Department of Commerce reported today that new orders for durable goods manufactured at U.S. factories fell sharply during July after rising sharply during June. Specifically, the Department of Commerce...

Existing Home Sales Decline for Second Consecutive Month

08/24/17: The National Association of Realtors reported today that sales of previously-owned U.S. homes – existing home sales – declined for the second consecutive month during July, falling by 1.3%, as compared to the prior...

U.S. Retail Sales Rise at Fastest Rate since January

08/15/17: The U.S. Department of Commerce reported today that sales at U.S. retail stores rose during July at the fastest year-over-year rate since January, increasing by 2.5%, as compared to the same month a year ago. Excluding...

ISM Non-Manufacturing Index Declines Sharply during July

Economic Activity Slows in U.S. Non-Manufacturing Sector 8/03/17: The Institute of Supply Management reported today that its July survey of executives at U.S. non-manufacturing companies indicates that economic activity in that...

Latest Economic Statistics Indicate U.S. Economy is Weakening

08/01/17: The latest readings on some key economic indicators for the United States suggest that the country’s economy is weakening and that its pace of economic growth will slow over the next couple of months. For example, the...

Chicago Business Barometer Declines Sharply during July

07/31/17: MNI Indicators reported today that its Chicago Business Barometer™, which is based on surveys of purchasing managers at Chicago-area manufacturing companies and designed to predict future changes in the United States’...

New Orders for Durable Goods Increase during June

07/2717: The U.S. Department of Commerce reported today that new orders for U.S. durable goods, such as home appliances, furniture and office equipment, rose sharply during June, after declining during each of the two prior...

Americans’ Economic Sentiment Improves during July

07/25/17: The Conference Board reported today that its Consumer Confidence Index, which is based on a monthly survey of Americans’ assessment of current economic conditions and their expectations for the direction of the U.S....

New Housing Starts Rebound during June

07/19/17: The U.S. Department of Commerce reported today that initial work on the construction of new single-family U.S. homes – new housing starts – rebounded modestly during June after declining during each of the three prior...

U.S. Housing Market Showing Signs of Further Weakening

07/18/17: Data released today by the National Association of Home Builders (“NAHB”) indicate that the U.S. housing market will continue to weaken over the next couple of months, with the NAHB reporting that its housing market...

New York Area Manufacturing Activity Slows Substantially

07/17/17: Data released today by the Federal Reserve Bank of New York regarding its mid-July survey of manufacturing executives in the tri-state area of New York, Connecticut and northern New Jersey indicate that manufacturing...

U.S. Inflation Rates Continue to Decline during June

07/13/17: Data released today by the U.S. Department of Labor indicate that producer prices for broad groupings of U.S. goods rose at a slower rate over the past few months. Specifically, the Labor Department reported that the...

Mortgage Applications Decline Sharply as Mortgage Rates Rise

07/12/17: The Mortgage Bankers Association reported today that applications for home mortgages fell sharply during the week ended July 9, declining by 7.4%, as compared to the prior month. Separately, BankRate.com reported that...

U.S. Job Openings Fall Sharply

07/11/17: The U.S. Department of Labor reported today that job openings at U.S. employers fell sharply during May, the latest month for which data are available, declining by 301,000, as compared to the prior month. That...

U.S. Employers Create 222,000 New Jobs during June

07/07/17: The U.S. Department of Labor reported today that, on a seasonally-adjusted basis, U.S. employers created 222,000 new non-farm jobs during June. That’s the largest number of newly-created jobs since February. Although...

U.S. Private-Sector Jobs Rise by Only 158,000 during June

07/06/17: ADP, LLC, a global provider of payroll services, reported today that U.S. private-sector employers created only 158,000 new jobs during June. Meanwhile, the U.S. Department of Labor reported that initial claims for...

Personal Spending Slows for Second Consecutive Month

06/30/17: Data released today by the U.S. Department of Commerce indicate that personal spending in the United States slowed for the second consecutive month during May. Specifically, the Commerce Department reported that, on an...

U.S. Economy Grew at Faster Pace than Estimated Previously

06/29/17: The U.S. Department of Commerce reported today that the U.S. economy grew at a slightly faster pace during the first quarter of this year than it had estimated previously. Specifically, the Department of Commerce...

Pending Home Sales Decline for Third Consecutive Month

The U.S. economy is continuing to show signs of weakening, with the National Association of Realtors reporting today that its Pending Home Sales Index, which is based on the number of contracts signed by prospective homebuyers...

Consumer Confidence Rebounds Modestly during June

The Conference Board reported today that its Consumer Confidence Index, which is designed to reflect Americans’ sentiment regarding their personal income, employment prospects and outlook for the U.S. economy six months into the...

U.S. New Home Sales Rise Very Modestly during May

06/23/17: Data released today by the U.S. Department of Commerce indicate that, on a seasonally-adjusted basis, sales of newly-constructed U.S. homes – new home sales – rose very modestly during May after declining sharply...

Latest Readings on U.S. Leading Economic Indicators Mixed

06/22/17: The Conference Board reported today that its index of leading economic indicators for the United States rose for the ninth consecutive month during May, suggesting that the U.S. economy is continuing to expand during...

Existing Home Sales Rebound Modestly during May

06/21/17: The National Association of Realtors (“NAR”) reported today that sales of previously-owned U.S. homes – existing home sales – rose modestly during May after declining during the prior month. Specifically, the NAR...

U.S. Installment Debt Slows Considerably during April

06/07/17: In yet another sign that the U.S. economy is likely continuing to expand at a slow pace during the quarter ending June 30, 2017, the Federal Reserve reported today that the rate of increase in U.S. installment debt...

U.S. Factory Orders Unchanged during April

06/05/17: The U.S. Department of Commerce reported today that new orders for goods produced by U.S. factories were essentially unchanged during April, the latest month for which data are available, declining by 0.2%, as compared to the prior month.

U.S. Non-farm Employment Increases by Only 138,000 during May

06/02/17: The U.S. Department of Labor reported this morning that, on a seasonally-adjusted basis, only 138,000 new jobs were created in non-farm sectors of the U.S. economy during May, causing the three-month average of newly-created jobs to decline for the third consecutive month; (see the chart to the right).

Private-Sector Employment Improves during May, Leading Economic Indicators Worsen

06/01/17: ADP, LLC, a global provider of payroll services, reported today that private-sector employers in the United States created 253,000 jobs during May after creating only 174,000 new jobs during April. In contrast to that positive employment report, the U.S. Department of Labor reported that initial claims for unemployment benefits rose last week to the highest level since the week ended April 23, 2017, indicating that that a fewer number of jobs might be created during June.

U.S. Existing Home Sales Decline during April

05/24/17: In another sign that economic activity in the U.S. housing market is slowing, the National Association of Realtors (“NAR”) reported this morning that sales of previously-owned homes in the United States – existing home sales – declined during April.

Mortgage Applications Decline Sharply

05/17/17: The Mortgage Bankers Association announced at 7:00 am this morning that applications for home mortgages in the United States declined by 4.1% during the week ended May 12, representing the biggest weekly decline in mortgage applications since November 25, 2016.

U.S. Housing Starts Decline for Second Consecutive Month

05/16/17: Data released today by the U.S. Department of Commerce indicate that initial work on the construction of new, privately-owned homes in the United States – new housing starts – declined for the second consecutive month during April.

New York Fed Manufacturing Index Declines for Third Consecutive Month

05/15/17: The Federal Reserve Bank of New York reported this morning that its Empire State Manufacturing Index, which is based on surveys of purchasing managers at manufacturing companies in New York, northern New Jersey and Connecticut, declined for the third consecutive month over the past two weeks, indicating that manufacturing activity in that region of the United States is slowing.

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