- Real GDP increased at an annual rate of 1.4% in the fourth quarter of 2015, according to the “third” estimate by the Bureau of Economic Analysis. In the “second” estimate, released a month ago, the increase in real GDP was 1.0%. The price index for gross domestic purchases increased 0.4% in the fourth quarter, following a 1.3% increase in the third quarter.
- Real GDP increased 2.4% in the year 2015, the same increase as in 2014. The price index for gross domestic purchases increased 0.4% in 2015, compared with an increase of 1.5% in 2014.
- Corporate profits from current production decreased $159.6 billion in the fourth quarter, after a decrease of $33.0 billion in the previous quarter. For the year 2015, profits from current production decreased $64.0 billion, in contrast to an increase of $35.6 billion in 2014.
- State personal income grew on average 4.4% in 2015, the same increase as in 2014, according to the U.S. Bureau of Economic Analysis. Growth of state personal income ranged from negative 0.2% in North Dakota to 6.3% in California.
- New orders for manufactured durable goods decreased 2.8% in February, following a 4.2% increase in the previous month. Shipments decreased 0.9%, following a 1.5% increase in January. Excluding transportation, new orders were down 1.0% from the previous month, while shipments were down 0.7%.
- February existing home sales decreased 7.1% to an annualized rate of 5,080 thousand units, according to the National Association of Realtors. The February figure was 2.2% above the February 2015 figure. There were 1,880 thousand homes for sale at the end of the month. This represents a supply of 4.4 months at the current sales rate, compared to 4.6 in February of 2015. The median sales price of existing homes sold was $210.8 thousand, 4.4% above February 2015.
- February new home sales increased 2.0% to an annualized rate of 512 thousand units. The February figure was 6.1% below the February 2015 figure. The median sales price of new houses sold was $301.4 thousand, 2.6% above February 2015.
- U.S. House prices rose 0.5% on a seasonally adjusted basis from December to January, according to the Federal Housing Finance Agency’s (FHFA). For the 12 months ending in January, U.S. prices rose 6.0%.
- The results of Freddie Mac’s Primary Mortgage Market Survey showed average fixed mortgage rates moving lower for the first time in four weeks. 30-year fixed-rate mortgage averaged 3.71% for the week ending March 24, down from last week when it averaged 3.73%. A year ago at this time, the 30-year fixed-rate averaged 3.69%.
- Mortgage applications decreased 3.3% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending March 18th.
- The advance figure for initial claims for unemployment insurance increased 6 thousand to 265 thousand in the week ending March 19. The 4-week moving average was 259.75 thousand, an increase of 0.25 thousand from the previous week’s average. The advance number for seasonally adjusted insured unemployment during the week ending March 12 was 2,179 thousand, a decrease of 36 thousand from the previous week’s revised level.
- The Chicago FED National Activity Index decreased to negative 0.29 in February, from positive 0.41 in January. The index’s three-month moving average edged up to negative 0.07 in February, from negative 0.12 in January.
- Fifth District manufacturing activity expanded in March, according to the survey by the Federal Reserve Bank of Richmond. Activity in the service sector improved in March, following a weak February performance.
- Tenth District manufacturing activity remained negative, according to the survey by the Federal Reserve Bank of Kansas City.
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