- State personal income grew 34.2% on average in the second quarter of 2020, after increasing 4.1% in the first quarter, according to the Bureau of Economic Analysis. The percent change in personal income ranged from 15.3% in the District of Columbia to 76.3% in Massachusetts.
- New orders for manufactured durable goods in August increased $1.0 billion or 0.4% to $232.8 billion, according to the U.S. Census Bureau. This increase, up four consecutive months, followed an 11.7% July increase. Excluding transportation, new orders increased 0.4%. Excluding defense, new orders increased 0.7%. Machinery, also up four consecutive months, led the increase by 1.5%.
- Shipments of manufactured durable goods in August, down following three consecutive monthly increases, decreased 0.3% to $244.1 billion. This followed a 7.6% July increase. Transportation equipment, also down following three consecutive monthly increases, drove the decrease, with 1.7%.
- Inventories of manufactured durable goods in August, down three consecutive months, decreased 0.1% to $420.5 billion. This followed a 0.8% July decrease. Machinery, down seven of the last eight months, led the decrease by 0.6%
- Sales of new single-family houses in August 2020 were at a seasonally adjusted annual rate of 1,011 thousand, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 4.8% above the revised July rate of 965 thousand and is 43.2% above the August 2019 estimate. The median sales price of new houses sold in August 2020 was $312.8 thousand. The average sales price was $369 thousand. The seasonally adjusted estimate of new houses for sale at the end of August (inventory) was 282 thousand. This represents a supply of 3.3 months at the current sales rate.
- The median number of years that wage and salary workers had been with their current employer was 4.1 years in January 2020, little changed from 4.2 years in January 2018, according to the U.S. Bureau of Labor Statistics.
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