January 16th, 2015
- Advance estimates of retail and food services sales for December were down 0.9% from the previous month, but were up 3.2% from December 2013. Retail and food services sales for the year 2014 were up 4.0% from the previous year.
- Total manufacturing and trade sales for November were down 0.2%, while inventories were up 0.2%.
- Industrial production decreased 0.1% in December, following a 1.3% increase in the previous month. The index was up 4.9% from December of 2013.The rate of capacity utilization for total industry decreased 0.3 percentage point to 79.7%.
- The federal government budget ran a surplus of $1.9 billion in December, after a deficit of $56.8 billion in the previous month.
- The advance figure for initial claims for unemployment insurance increased 19 thousand to 316 thousand in the week ending January 10th. The 4-week moving average was 298 thousand, an increase of 6.75 thousand from the previous week.
- There were 5.0 million job openings on the last business day of November, little changed from 4.8 million in October, according to the U.S. Bureau of Labor Statistics.
- Real average hourly earnings for all employees rose 0.1% from November to December. This result stems from a 0.2% decrease in average hourly earnings combined with a 0.4% decrease in the consumer price index.
- The consumer price index (headline index) decreased 0.4% in December, following a 0.3% decline in the previous month. The core index held steady, following a 0.1% increase in the previous month. The consumer price index increased 0.8% for the 12-month period ending in December, while the core index rose 1.6%.
- The producer price index for final demand (headline index) decreased 0.3% in December, while the core index increased 0.2%. The producer price index for final demand increased 1.1% from December 2013 to December 2014.
- The import price index decreased 2.5% and the export price index decreased 0.4% in December. The import price index decreased 5.5% from December 2013, while export prices decreased 3.2%.
- The results of Freddie Mac’s Primary Mortgage Market Survey of January 15th showed average fixed mortgage rates decreasing for the third consecutive week. 30-year fixed-rate mortgage averaged 3.66%, down from last week when it averaged 3.73%.
- Mortgage applications surged 49.1% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending January 9th. This was the largest weekly gain since November 2008.
- The January 2015 Empire State Manufacturing Survey indicated that business activity expanded for New York manufacturers.
- The Philadelphia FED business outlook survey for January reported modest growth in manufacturing activity.
- The FED’s “Beige Book” indicated that overall economic activity continued to expand from mid-November through late December, with most Districts reporting a “modest” or “moderate” pace of growth..
- The Thomson Reuters/University of Michigan Index of Consumer Sentiment, preliminary, surged to 98.2 in early January. This was the highest level since January 2004.
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January 9th, 2015
- Total non-farm payroll employment increased 252 thousand in December, following an increase of 353 thousand in the previous month. Private-sector payrolls increased by 240 thousand in the month, while government employment increased by 12 thousand.
- The number of unemployed persons decreased by 383 thousand to 8.688 million. The unemployment rate decreased to 5.6% in December, from 5.8% in November. The unemployment rate was 6.7% in December of 2013.
- The average workweek of all employees on private nonfarm payrolls held steady at 34.6 hours. Average hourly earnings decreased by 5 cents to $24.57, while average weekly earnings decreased by $1.73 to $850.12. Over the past 12 months, average hourly earnings were up 1.7%, and average weekly earnings were up 2.5%.
- The advance figure for initial claims for unemployment insurance decreased 4 thousand to 294 thousand in the week ending January 3. The 4-week moving average for initial claims decreased to 290.5 thousand.
- Sales of domestic cars decreased 2.4% in December, while total light vehicle (cars and light trucks) sales decreased 1.7%. Total vehicle sales were 16.8 million units in December, at a seasonally adjusted annual rate, compared to 17.1 million in the previous month, and 15.4 million in December of 2013. Total vehicle sales were 16.4 million for the year 2014, up from 16.0 million in the previous year.
- New orders for manufactured goods decreased 0.7% in November, while shipments decreased 0.6%. Year-to-date new orders increased 3.4%, while shipments increased 2.5%.
- Sales of merchant wholesalers in November were down 0.3% from the previous month, while inventories were up 0.8%.
- In November, international trade deficit was $39.0 billion, $3.2 billion less than the October figure. The cumulative trade deficit for the first eleven months of 2014 was $461.3 billion, compared with a cumulative deficit of $439.0 billion during the first eleven months of 2013.
- November consumer credit outstanding increased at an annual rate of 5.1%, according to the Board of Governors of the Federal Reserve System. Revolving credits decreased at an annual rate of 1.3%, while non-revolving credits increased 7.5%.
- The results of Freddie Mac’s Primary Mortgage Market Survey of January 8th showed average fixed mortgage rates diving to their lowest level since May 2013. 30-year fixed-rate mortgage averaged 3.73% for the week ending January 8th, down from last week when it averaged 3.87%.
- Mortgage applications decreased 9.1% from two weeks earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending January 2nd.
- In December, the Institute for Supply Management’s (ISM) non-manufacturing survey results indicated growth in the non-manufacturing business activity for the 59th consecutive month.
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January 2nd, 2015
- Construction spending decreased 0.3% in November, following a 1.2% increase in the previous month, according to the Census Bureau. Private construction increased 0.3% in November, while public construction decreased 1.7%. Total construction spending was up 2.4% from November 2013.
- The Pending Home Sales Index, a leading indicator for the housing sector, increased 0.8% in November, according to the National Association of Realtors. The index was up 4.1% from a year ago.
- The S & P/Case-Shiller National U.S. Home Price Indices posted annual increases of 4.4% and 4.5% in the 12 months ending in October, for 10-city and 20-city composites, respectively.
- The results of Freddie Mac’s Primary Mortgage Market Survey of December 31st showed average fixed mortgage rates move slightly higher. 30-year fixed-rate averaged 3.87% for the week ending December 31, up from last week when it averaged 3.83%.
- The advance figure for initial claims for unemployment insurance increased 17 thousand to 298 thousand in the week ending December 27, according to U.S. Department of Labor.
- The Conference Board’s consumer confidence index, which had decreased in November, increased 1.6 points in December.
- The Institute for Supply Management’s (ISM) manufacturing survey indicated that the manufacturing sector expanded in December for the 19th consecutive month, and the overall economy grew for the 67th consecutive month.
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December 24th, 2014
- Real GDP increased at an annual rate of 5.0% in the third quarter of 2014, after increasing 4.6% in the previous quarter, according to the “third” estimate released by the Bureau of Economic Analysis. In the second estimate, released about a month ago, the increase in real GDP was 3.9%.
- The price index for gross domestic purchases increased 1.4% in the third quarter, compared to an increase of 2.0% in the previous quarter.
- Corporate profits from current production increased $64.5 billion in the third quarter, after an increase of $164.1 billion in the previous quarter.
- Personal income increased 0.4% in November, while personal consumption expenditures increased 0.6%. The price index for personal consumption expenditures decreased 0.2% in November, while the core index held steady. The price index (headline index) was up 1.2% from November 2013, while the core index was up 1.4%.
- New orders for manufactured durable goods decreased 0.7% in November, following a 0.3% increase in the previous month. Shipments decreased 0.4%, following a 0.1% decrease in the previous month. Year-to-date new orders were up 6.7%, while shipments were up 4.9%.
- November existing home sales decreased 6.1% from the previous month to an annualized rate of 4,930 thousand units, according to the National Association of Realtors. This represents a 2.1% increase from a year ago. There were 2,090 thousand existing homes for sale at the end of the month. This represents a supply of 5.1 months at the current sales rate, the same rate as in November of 2013. The median sales price of existing houses sold was 5.0% above November 2013.
- November new home sales decreased 1.6% to an annualized rate of 438 thousand units. The November figure was 1.6% below the November 2013 figure. The median sales price of new houses sold was $280.9 thousand, up 1.2% from a year ago.
- U.S. House prices rose 0.6% on a seasonally adjusted basis from September to October, according to the Federal Housing Finance Agency’s (FHFA) monthly House Price Index. For the 12 months ending in October, U.S. prices rose 4.5%. The index is now 5.1% below its April 2007 peak and is roughly the same as the September 2005 index level.
- The results of Freddie Mac’s Primary Mortgage Market Survey of December 24th showed average fixed mortgage rates edging slightly higher while remaining near their 2014 lows. 30-year fixed-rate mortgage average 3.83% for the week ending December 24, up from last week when it averaged 3.80%.
- The advance figure for initial claims for unemployment insurance decreased 9 thousand to 280 thousand in the week ending December 20. The 4-week moving average was 290.25 thousand, a decrease of 8.5 thousand from the previous week’s average.
- The Thomson Reuters/University of Michigan Index of Consumer Sentiment jumped to 93.6 in December, its highest level since January 2007.
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December 21st, 2014
- Total Industrial production increased 1.3% in November, following a 0.1% increase in the previous month. The rate of capacity utilization for total industry was 80.1%, up 3.1% from November 2013.
- The current account deficit increased to $100.3 billion in the third quarter, from $98.4 billion in the previous quarter.
- Housing starts in November were down 1.6% from the previous month, and were down 7.0% from November 2013. Building permits in November were down 5.2% from the previous month, and were down 0.2% from November 2013.
- The housing market index of National Association of Home Builders (NAHB) and Wells Fargo decreased a point to 57 in December.
- The results of Freddie Mac’s Primary Mortgage Market Survey of December 18th showed average fixed mortgage rates falling to new lows for this year. 30-year fixed-rate mortgage averaged 3.80% for the week ending December 18, down from last week when it averaged 3.93%.
- 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 December 12th.
- The advance figure for initial claims for unemployment insurance decreased 6 thousand to 289 thousand in the week ending December 13.
- Real average hourly earnings for all employees rose 0.6% from October to November. This result stems from a 0.4% increase in average hourly earnings combined with a 0.3% decrease in the consumer price index for all urban consumers.
- Regional and state unemployment rates were little changed in November. Forty-one states and the District of Columbia had unemployment rate decreases from October, three states had increases, and six states had no change.
- The consumer price index (headline index), which held steady in October, decreased 0.3% in November. The core index increased 0.2%. The consumer price index increased 1.3% for the 12-month period ending in November, while the core index rose 1.7%.
- The December 2014 Empire State Manufacturing Survey indicated that business activity declined for New York manufacturers.
- The Philadelphia FED business outlook survey indicated that the pace of regional manufacturing activity remained positive but decreased in December.
- The Conference Board index of leading economic indicators increased 0.6% in November, the same increase as in the previous month.
- The Federal Open Market Committee decided to keep its target for the federal funds rate at 0 to 0.25%, and indicated that it will be appropriate to maintain this target range for a considerable time.
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December 12th, 2014
- Advance estimates of retail and food services sales for November were up 0.7% from the previous month, and were up 5.1% from November 2013.
- Total manufacturing and trade sales for October were down 0.1%, while inventories were up 0.2%.
- Sales of merchant wholesalers in October were up 0.2%, while inventories were up 0.4%.
- The federal government budget ran a deficit of $56.8 billion in November, after a deficit of $121.7 billion in the previous month.
- Domestic non-financial debt rose at a seasonally adjusted annual rate of 4.4% in the third quarter, following an increase of 3.4% in the previous quarter.
- The producer price index for final demand (headline index) decreased 0.2% in November, while the core index decreased 0.1%. The producer price index for finished goods increased 1.4% from November 2013 to November 2014.
- The import price index decreased 1.5% in November, while export prices decreased 1.0%. The import price index decreased 2.3% from November 2013, while the price index for exports decreased 1.9%.
- The advance figure for initial claims for unemployment insurance decreased 3 thousand to 294 thousand in the week ending December 6.
- The results of Freddie Mac’s Primary Mortgage Market Survey of December 11th showed average fixed mortgage rates slightly up from the previous week, but with the average 30-year fixed-rate remaining below 4.0%.
- Mortgage applications increased 7.3% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending December 5th.
- The Thomson Reuters/University of Michigan Index of Consumer Sentiment, preliminary, rose in December.
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December 5th, 2014
- Total non-farm payroll employment rose 321 thousand in November, following an increase of 243 thousand in the previous month. Private-sector payrolls increased 314 thousand in the month, while government employment increased 7 thousand.
- The unemployment rate was unchanged at 5.8%.
- The average workweek increased by 0.1 to 34.6 hours. Average hourly earnings increased by 9 cents to $24.66. Over the past 12 months, average hourly earnings were up 2.1%.
- The advance figure for initial claims for unemployment insurance decreased 17 thousand to 297 thousand in the week ending November 29. The 4-week moving average was 299 thousand, up 4.75 thousand from the previous week’s average.
- Third quarter productivity increased 2.3% (seasonally adjusted annual rate) in the non-farm business sector, following a 2.9% increase in the previous quarter. From the third quarter of 2013 to the third quarter of 2014, productivity rose 1.0%. Unit labor costs were down 1.0% from the previous quarter, but were up 1.2% from the same quarter a year ago.
- Sales of domestic cars increased 2.7% in November, while total light vehicle (cars and light trucks) sales increased 4.5%. Total light vehicle sales were 17.1 million units in November, at a seasonally adjusted annual rate, compared to 16.2 million in November of 2013.
- New orders for manufactured goods decreased 0.7% in October, while shipments of manufactured goods decreased 0.8%.
- In October international trade deficit was $43.4 billion, $0.2 billion less than the revised September figure. The cumulative deficit for the first 10 months of 2014 was $423.5 billion, compared with a deficit of $403.0 billion during the first 10 months of 2013.
- October construction spending was up 1.1% from the previous month, and was up 3.3% from October 2013.
- The results of Freddie Mac’s Primary Mortgage Market Survey of December 4th showed average fixed mortgage rates moving lower. 30-year fixed-rate mortgage averaged 3.89% for the week ending December 4, down from last week when it averaged 3.97%.
- Mortgage applications decreased 7.3% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending November 28.
- In October, consumer credit outstanding increased at an annual rate of 4.9%. Revolving credit increased 1.3%, while non-revolving credit increased 6.2%.
- The Institute for Supply Management’s (ISM) manufacturing survey indicated that the manufacturing sector expanded in November for the 18th consecutive month, and the overall economy grew for the 66th 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 58th consecutive month.
- The FED’s “Beige Book” indicated that economic activity continued to expand in October and November.
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November 29th, 2014
- Real GDP increased at an annual rate of 3.9% in the third quarter, according to the “second” estimate by the Bureau of Economic Analysis, after a 4.6% in the previous quarter. In the advance estimate, released about a month ago, the increase in real GDP was 3.5%.
- The price index for gross domestic purchases increased 1.4% in the third quarter, compared to an increase of 2.0% in the previous quarter.
- Corporate profits from current production increased $43.8 billion in the third quarter, after an increase of $164.1 billion in the previous quarter.
- Personal income and personal consumption expenditures both increased 0.2% in October. The price index for personal consumption expenditures increased 0.1% in October, while the core index increased 0.2%. The price index rose 1.4% from October a year ago, while the core index rose 1.6%.
- New orders for manufactured durable goods increased 0.4% in October, while Shipments increased 0.1%.
- October new home sales were up 0.7% from the previous month, and were up 1.8% from October 2013 figure, according to the U.S. Census Bureau. The median sales price of new houses sold was $305.0 thousand, 15.4% above October 2013.
- U.S. House prices rose less than 0.1% on a seasonally adjusted basis from August to September, according to the Federal Housing Finance Agency’s (FHFA) monthly House Price Index. For the 12 months ending in September, house prices rose 4.3%. The index is 5.8% below its April 2007 peak and is roughly the same as the August 2005 index level..
- The S & P/Case-Shiller National U.S. Home Price Index in September was down 0.1% from the previous month, but up 4.8% from September 2013. As of September 2014, home prices were back to their levels posted in the spring of 2005.
- The Pending Home Sales Index, a leading indicator for the housing sector, decreased 1.1% to a reading of 104.1 in October. The index was up 2.2% from October 2013.
- The long term mortgage rate averaged 3.97% for the week ending November 26, down from last week when it averaged 3.99%.
- Mortgage applications decreased 4.3% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending November 21.
- The advance figure for initial claims for unemployment insurance increased 21 thousand to 313 thousand in the week ending November 22.
- The Conference Board’s consumer confidence index, which had rebounded in October, declined in November.
- The Thomson Reuters/University of Michigan Index of Consumer Sentiment rose in November.
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November 22nd, 2014
- Total Industrial production decreased 0.1% in October, after increasing 0.8% in the previous month. Total industrial production in October was 4.0% above its level a year earlier. The rate of capacity utilization decreased 0.3 percentage point to 78.9%, 1.2 percentage points below its 1972-2013 average.
- Housing starts in October were down 2.8% from the previous month, but were up 7.8% from October 2013. Building permits in October were up 4.8% from September, and were up 1.2% from a year ago.
- October existing home sales increased 1.5% to an annualized rate of 5,260 thousand units, according to the National Association of Realtors. The October figure was 2.5% above the October 2013 figure. The median sales price of existing houses sold was $208.3 thousand, 5.5% above October 2013.
- The housing market index of National Association of Home Builders (NAHB) and Wells Fargo rose 4 points to 58 in November. The index was 54 in November 2013 and 56 in January 2014.
- The results of Freddie Mac’s Primary Mortgage Market Survey of November 20th showed average fixed mortgage rates slightly down from the previous week. 30-year fixed-rate mortgage averaged 3.99%, down from last week when it averaged 4.01%.
- Mortgage applications increased 4.9% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending November 14th.
- The producer price index for final demand increased 0.2% in October, while the core index decreased 0.1%. The producer price index for final demand increased 1.5% from October 2013 to October 2014.
- The consumer price index was unchanged in October, while the core index increased 0.2%. The consumer price index increased 1.7% for the 12-month period ending in October, while the core index rose 1.8%.
- The advance figure for initial claims for unemployment insurance decreased 2 thousand to 291 thousand in the week ending November 15. The 4-week moving average was 287.5 thousand, an increase of 1.75 thousand from the previous week’s average.
- Real average hourly earnings for all employees rose 0.1% from September to October.
- Regional and state unemployment rates were generally little changed in October, according to the U.S. Bureau of Labor Statistics. Thirty-four states and the District of Columbia had unemployment rate decreases, 5 states had increases, and 11 states had no change. In October 2014, nonfarm payroll employment increased in 38 states and decreased in 12 states and the District of Columbia.
- The Conference Board’s leading economic index increased 0.9% in October, while the coincident index increased 0.1%.
- The November 2014 Empire State Manufacturing Survey indicated that business activity continued to expand for New York manufacturers.
- The Philadelphia FED business outlook survey indicated that regional manufacturing activity increased notably in November.
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November 14th, 2014
- Advance estimates of retail and food services sales for October were up 0.3% from September, and were up 4.1% from October 2013, according to the U.S. Census Bureau.
- Total manufacturing and trade sales for September were virtually unchanged from August, while inventories were up 0.3%, , according to the U.S. Census Bureau.
- Sales of merchant wholesalers for September were up 0.2%, while inventories were up 0.3%, , according to the U.S. Census Bureau.
- The federal government budget ran a deficit of $121.7 billion in October, after a surplus of $105.8 billion in the previous month, according to the Bureau of Fiscal Service, Department of the Treasury.
- The advance figure for initial claims for unemployment insurance increased by 12 thousand to 290 thousand in the week ending November 8, according to the Labor Department. The 4-week moving average was 285 thousand, an increase of 6 thousand from the previous week’s average.
- The import price index decreased 1.3% in October, while the export price index decreased 1.0%, according to the Labor Department. The import price index decreased 1.8% from October 2013, while the price index for exports decreased 0.8%.
- The results of Freddie Mac’s Primary Mortgage Market Survey showed fixed mortgage rates little changed from the previous week. 30-year fixed-rate mortgage averaged 4.01% for the week ending November 13th, down from last week when it averaged 4.02%.
- Mortgage applications decreased 0.9% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending November 7th.
- The Thomson Reuters/University of Michigan Index of Consumer Sentiment rose to 89.4 for early November, up from 86.9 in October.
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