July 24th, 2016
- Existing home sales increased 1.1% to a seasonally adjusted annual rate of 5.57 million in June, from 5.51 million in May, according to the National Association of Realtors. The index in June was up 3.0% from a year ago.
- The median existing home price in June was $247.7 thousand, up 4.7% from June 2015.
- Housing starts rose 4.8% in June, while building permits increased 1.5%.
- Mortgage applications decreased 1.3% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending July 15th.
- The advance figure for initial claims for unemployment insurance was 253 thousand in the week ending July 16, a decrease of a thousand from the previous week’s level. The 4-week moving average was 257.75 thousand, a decrease of 1.25 thousand from the previous week’s average.
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July 17th, 2016
- Advance estimates of retail and food services sales for June were up 0.6%, according to the U.S. Census Bureau. Excluding motor vehicle & parts, retail sales were up 0.7%.
- Total manufacturing and trade inventories were up 0.2% in May, according to the U.S. Census Bureau. The total business inventories/sales ratio was 1.40, compared with 1.37 a year ago.
- Total Industrial production, which decreased 0.3% in May, increased 0.6% in June. The rate of capacity utilization increased 0.5 percentage point to 75.4%.
- The consumer price index increased 0.2% in June, the same increase as in the previous month. The core index increased 0.2%, the same increase as in the previous month. The consumer price index increased 1.0% for the 12-month period ending in June, while the core index rose 2.3%.
- The producer price index for total final demand increased 0.5% in June, while the index for final demand goods less foods and energy increased 0.4%. The producer price index for final demand increased 0.3% from June 2015, while the core index increased 1.3%.
- The import price index increased 0.2% in June, while the export price index increased 0.8%. The import price index decreased 4.8% from June 2015 to June 2016, while the price index for exports decreased 3.5%.
- The advance figure for initial claims for unemployment insurance was 254 thousand in the week ending July 9, unchanged from the previous week. The 4-week moving average was 259 thousand, a decrease of 5.75 thousand from the previous week’s average.
- Mortgage applications increased 7.2% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending July 8th.
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July 10th, 2016
- Total non-farm payroll employment rose 287 thousand in June, following an increase of 11 thousand in the previous month, according to the U.S. Bureau of Labor Statistics.
- The unemployment rate increased to 4.9% in June, from 4.7% in May.
- The average workweek of all employees on private nonfarm payrolls held steady at 34.4 hours. Average hourly earnings increased 0.1%.
- The advance figure for initial claims for unemployment insurance was 254 thousand in the week ending July 2, a decrease of 16 thousand from the previous week’s revised level. The 4-week moving average was 264.75 thousand, a decrease of 2.5 thousand from the previous week’s revised average.
- Mortgage applications increased 14.2% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending July 1st.
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July 3rd, 2016
- Real GDP increased at an annual rate of 1.1% in the first quarter, according to the “third” estimate released by the Bureau of Economic Analysis. In the previous quarter, real GDP increased 0.8%.
- The price index for gross domestic product increased 0.4% in the first quarter, following a 0.6% increase in the previous quarter.
- Personal income increased 0.2% in May, and personal consumption expenditures increased 0.4%.
- The price index for personal consumption expenditures increased 0.2% in May. The price index (headline index) was up 0.9% from May 2015, while the core index was up 1.6%.
- The advance figure for initial claims for unemployment insurance was 268 thousand in the week ending June 25, an increase of 10 thousand from the previous week’s revised level. The 4-week moving average was 266.75 thousand, unchanged from the previous week’s revised average.
- Mortgage applications decreased 2.6% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending June 24th.
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June 26th, 2016
- New orders for durable goods decreased 2.2% in May, following a 3.4% increase in the previous month.
- Existing home sales increased 1.8% to a seasonally adjusted annual rate of 5.53 million in May, from 5.43 million in April, according to the National Association of Realtors. The median existing home price in May was $239.7 thousand, up 4.7% from May 2015.
- The Federal Housing Finance Agency House price index increased 0.2% in April, following a 0.8% increase in the previous month. The index was up 5.9% from a year ago.
- The advance figure for initial claims for unemployment insurance was 259 thousand in the week ending June 18, a decrease of 18 thousand from the previous week. The 4-week moving average was 267 thousand, a decrease of 2.25 thousand from the previous week’s average.
- The Thomson Reuters/University of Michigan Index of Consumer Sentiment decreased to 93.5 in June, from 94.7 in May.
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June 19th, 2016
- Advance estimates of retail and food services sales for May were up 0.5% from April, and were up 2.5% from May 2015, according to the U.S. Census Bureau. Excluding motor vehicle & parts, retail sales were up 0.4% in May.
- Total manufacturing and trade sales for April were up 0.9%, while inventories were up 0.1%, according to the U.S. Census Bureau. The total business inventories/sales ratio was 1.40, compared with 1.41 in the previous month.
- Total Industrial production decreased 0.4% in May, following a 0.6% increase in the previous month. The rate of capacity utilization decreased 0.4 percentage point to 74.9%.
- Housing starts in May were down 0.3% from the previous month, but were up 9.5% from May 2015. Building permits in May were up 0.7% from April, but were down 10.1% from a year ago.
- The consumer price index increased 0.2% in May, following a 0.4% increase in the previous month. The core index increased 0.2%, the same increase as in the previous month. The consumer price index increased 1.0% for the 12-month period ending in May, while the core index rose 2.2%.
- The producer price index for total final demand increased 0.4% in May, following a 0.2% in the previous month. The index for final demand goods less foods and energy increased 0.3%, after posting a 0.1% increase in the previous month. The producer price index for final demand decreased 0.1% from May 2015 to May 2016, while the core index rose 1.2%.
- The import price index increased 1.4% in May, while the export price index increased 1.1%. The import price index decreased 5.0% from May 2015 to May 2016, while the price index for exports decreased 4.5%.
- The advance figure for initial claims for unemployment insurance was 277 thousand in the week ending June 11, an increase of 13 thousand from the previous week’s level. The 4-week moving average was 269.25 thousand, a decrease of 0.25 thousand from the previous week’s average.
- The June 2016 Empire State Manufacturing Survey indicated that business activity improved for New York manufacturers.
- The Philadelphia FED business outlook survey indicated that regional manufacturing activity improved slightly in June.
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June 11th, 2016
- 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.
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June 4th, 2016
- Total non-farm payroll employment rose 38 thousand in May, following an increase of 123 thousand in the previous month. Private-sector payrolls increased by 25 thousand in the month, while government employment increased by 13 thousand.
- The unemployment rate decreased to 4.7% in May, from 5.0% in April. The rate of unemployment was 5.5% in May of 2015.
- The average workweek of all employees on private nonfarm payrolls was unchanged at 34.4 hours.
- Average hourly earnings of all employees on private nonfarm payrolls increased by 5 cents to $25.59. Over the past 12 months, average hourly earnings were up 2.5%.
- The advance figure for initial claims for unemployment insurance decreased a thousand to 267 thousand in the week ending May 28. The 4-week moving average was 276.75 thousand, a decrease of 1.75 thousand from the previous week’s average.
- Unemployment rates were lower in April than a year earlier in 269 of the 387 metropolitan areas, higher in 94 areas, and unchanged in 24 areas, according to the U.S. Bureau of Labor Statistics. Nonfarm payroll employment increased over the year in 327 metropolitan areas, decreased in 54 areas, and was unchanged in 6 areas. The national unemployment rate in April was 4.7 percent, not seasonally adjusted, down from 5.1 percent a year earlier.
- Personal income increased 0.4% in April, while personal consumption expenditures increased 1.0%. The price index for personal consumption expenditures increased 0.3%, while the core index increased 0.2%. The price index for personal consumption expenditures was up 1.1% from April 2015, while the core index was up 1.6%
- Sales of domestic cars increased 11.9% in May, while total light vehicle (cars and light trucks) sales increased 0.2%. Total vehicle sales were 17.4 million units in May, at a seasonally adjusted annual rate, compared to 17.6 million in May 2015 and 16.6 million in May 2014.
- New orders for manufactured goods increased 1.9% in April, while shipments increased 0.5%. Year-to-date new orders were down 2.3%, and shipments were down 2.8%.
- In April international trade deficit was $37.4 billion, $1.9 billion more than the revised March figure. The cumulative deficit was $159.3 billion for the first four months of 2016, compared with a deficit of $167.4 billion for the same period of the previous year.
- April construction spending was down 1.8% from the previous month, but was up 4.5% from a year ago. Private construction decreased 1.5%, while public construction decreased 2.8%.
- The results of Freddie Mac’s Primary Mortgage Market Survey showed average fixed mortgage rates moving slightly higher. The 30-year fixed mortgage rate averaged 3.66% for the week ending June 2, up from last week when it averaged 3.64%. A year ago at this time, the 30-year fixed mortgage rate was 3.87%.
- Mortgage applications decreased 4.1% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending May 27th.
- The Institute for Supply Management’s (ISM) manufacturing survey indicated that the manufacturing sector expanded in May for the third consecutive month, and the overall economy grew for the 84th consecutive month.
- In May, the Institute for Supply Management’s (ISM) non-manufacturing survey results indicated growth in the non-manufacturing business activity for the 76th consecutive month.
- The FED’s “Beige Book” indicated that overall economic activity expanded modestly during the reporting period from early April through mid-May.
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May 27th, 2016
- Real GDP increased at an annual rate of 0.8% in the first quarter of 2016, according to the “second” estimate released by the Bureau of Economic Analysis, after increasing at 1.4% in the previous quarter. In the “advance” estimate, released a month ago, real GDP increased 0.5%.
- Real gross domestic income (GDI) increased 2.2% for the first quarter, compared with an increase of 1.9% in the previous quarter.
- The average of real GDP and real GDI increased 1.5% in the first quarter, compared with an increase of 1.7% in the final quarter of 2015.
- The price index for gross domestic purchases increased 0.2% in the first quarter, compared to an increase of 1.0% in the previous quarter. Excluding food and energy prices, the price index for gross domestic purchases increased 1.4%.
- Corporate profits from current production increased $6.5 billion in the first quarter, after an increase of $159.6 billion in the previous quarter.
- New orders for manufactured durable goods increased 3.4% in April, while shipments increased 0.6%.
- April new home sales increased 16.6% to an annualized rate of 619 thousand units. The median sales price of new houses sold was $321.1 thousand, 9.7% above April 2015.
- U.S. House prices rose 0.7% on a seasonally adjusted basis from February to March, according to the Federal Housing Finance Agency’s (FHFA) monthly House Price Index. For the 12 months ending in March, U.S. prices rose 6.1%.
- The Pending Home Sales Index, a leading indicator for the housing sector, increased 5.1% to a reading of 116.3 in April, according to the National Association of Realtors. The index was 4.6% above the April 2015 level.
- The results of Freddie Mac’s Primary Mortgage Market Survey showed average fixed mortgage rates increasing. Despite this increase, the average for the month was 3.60%, the lowest monthly average in 3 years. 30-year fixed-rate mortgage averaged 3.64% for the week ending May 26, up from last week when it averaged 3.58%, A year ago at this time, the 30-year fixed-rate averaged 3.87%.
- Mortgage applications increased 2.3% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending May 20th.
- The advance figure for initial claims for unemployment insurance decreased 10 thousand to 268 thousand in the week ending May 21. The 4-week moving average was 278.5 thousand, an increase of 2.75 thousand from the previous week’s average.
- The Thomson Reuters/University of Michigan Index of Consumer Sentiment for May rose to 94.7, from 89.0 in April. This was the fifth highest reading since January 2007. The current conditions index increased to 109.9 in May from 106.7, while the expectations index increased to 84.9 from 77.6.
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May 20th, 2016
- Total Industrial production increased 0.7% in April, following a 0.9% decrease in the previous month. The index of industrial production in was 1.1% below its year-ago level. Manufacturing output increased 0.3% in April, following a 0.3% decrease in the previous month. Output of mining decreased 2.3%, while output of utilizes increased 5.8%.
- The rate of capacity utilization for total industry was 75.4%, 4.6 percentage points below its long-run (1972-2015) average.
- Housing starts were up 6.6% in April from the previous month, but were down 1.7% from a year ago. Building permits were up 3.6% in April from the previous month, but were down 5.3% from April 2015.
- April existing home sales increased 1.7% to an annualized rate of 5,450 thousand units, according to the National Association of Realtors. Sales were up 6.0% from a year ago. The median sales price of existing houses sold was $232.5 thousand, 6.3% above April 2013. There were 2,140 thousand homes for sale at the end of the month. This represents a supply of 4.7 months at the current sales rate, compared to 5.2 in April of 2015.
- The housing market index of National Association of Home Builders (NAHB) and Wells Fargo held steady at 58 in May. The index was 54 a year ago, and 61 in January 2016.
- The results of Freddie Mac’s Primary Mortgage Market Survey showed average fixed mortgage rates largely unchanged. The 30-year fixed mortgage rate averaged 3.58% for the week ending May 19, up slightly from last week when it averaged 3.57%. A year ago at this time, the 30-year fixed-rate averaged 3.84%. The 15-year fixed mortgage rate averaged 2.81%, unchanged from last week. A year ago at this time, the 15-year fixed-rate averaged 3.05%.
- Mortgage applications decreased 1.6% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending May 13th.
- The consumer price index (headline index) increased 0.1% in April, following a 0.1% increase in the previous month. The core index increased 0.2%, following a 0.1% increase in the previous month. The consumer price index (headline index) increased 1.1% for the 12-month period ending in April, while the core index rose 2.1%.
- The advance figure for initial claims for unemployment insurance decreased 16 thousand to 278 thousand in the week ending May 14. The 4-week moving average was 275.75 thousand, an increase of 7.5 thousand from the previous week’s average.
- Real average hourly earnings for all employees decreased 0.1% from March to April. This result stems from a 0.3% increase in average hourly earnings being more than offset by a 0.4% increase in the consumer price index.
- Labor productivity rose in 15 of 28 selected service providing industries in 2015, according to the U.S. Bureau of Labor Statistics. This was fewer than in 2014, when labor productivity increased in 20 of 28 industries. Labor productivity in the wireless telecommunications carriers sector surged 26.5% in 2015, when output grew 11.3% and hours worked decreased 12.0%.
- The May 2016 Empire State Manufacturing Survey indicated that business activity declined for New York manufacturers. The headline index of general business conditions decreased nineteen points to negative 9.0. On the other hand, the prices paid index decreased 2.5 points to 16.7 and the prices received index fell 6 points to negative 3.1.
- The Philadelphia FED business outlook survey for May reported that manufacturing activity in the region was weak. The diffusion index for current activity has registered a negative reading in eight of the last nine months.
- The Conference Board index of leading economic indicators increased 0.6% in April, while the coincident economic index increased 0.3%. Both indexes held steady in March. In the six-month period ending April 2016, the leading index increased 0.6% (about 1.1% annual rate), while the coincident index rose 0.8% (about 1.6% annual rate).
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