- Sales of merchant wholesalers in April were up 1.0% from the previous month, but were down 2.6% from April of 2015. Sales of durable goods were up 0.4% in February, while sales of nondurable goods were up 1.5%. Inventories of merchant wholesalers were up 0.6% from the previous month, and were up 0.9% from April 2015.
- April consumer credit outstanding increased at an annual rate of 4.5%. Revolving credit increased 2.1%, while non-revolving credit increased 5.4%.
- The federal government budget ran a deficit of $52.5 billion in May, after a surplus of $106.5 billion in the previous month. The cumulative deficit for the first eight months of fiscal year 2016 was $407.1 billion, compared with a deficit of $366.8 billion for the same period of the previous fiscal year.
- First quarter productivity decreased 0.6% (seasonally adjusted annual rate) in the non-farm business sector, following a 1.7% decrease in the previous quarter. Unit labor costs increased 4.5%, following a 5.4% increase in the previous quarter. Productivity in the non-farm business sector increased 0.7% from the first quarter of 2015, while unit labor costs increased 3.0%.
- The advance figure for initial claims for unemployment insurance decreased 4 thousand to 264 thousand in the week ending June 4. The 4-week moving average was 269.5 thousand, a decrease of 7.5 thousand from the previous week’s average.
- The number of job openings was little changed at 5.8 million on the last business day of April, according to the U.S. Bureau of Labor Statistics. Hires edged down to 5.1 million, while separations were little changed at 5.0 million.
- Federal Reserve Board of Governors Labor Market Conditions Index, which is based on 19 labor market indicators, decreased 4.8 points in May. This was the fifth consecutive monthly decline in the index.
- The results of Freddie Mac’s Primary Mortgage Market Survey showed average fixed mortgage rates falling, largely due to a disappointing employment report. The 30-year fixed mortgage rate averaged 3.60% for the week ending June 9, down from last week when it averaged 3.66%. A year ago at this time, 30-year fixed mortgage rate averaged 4.04%.
- Mortgage applications increased 9.3% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending June 3rd.
- The Thomson Reuters/University of Michigan Index of Consumer Sentiment, preliminary, indicated that consumers were a bit less optimistic in early June due to increased concerns about future economic prospects. The index was 94.3 in early June, compared with 94.7 in May, and 96.1 in June of 2015.
This entry was posted on Saturday, June 11th, 2016 at 3:18 AM and is filed under Key Economic Indicators. You can follow any responses to this entry through the RSS 2.0 feed.
Responses are currently closed, but you can trackback from your own site.