October 1st, 2012
- Real GDP increased at an annual rate of 1.3% in the second quarter of 2012, after increasing 2.0% in the previous quarter. In the second estimate, released a month ago, the increase in real GDP was 1.7%. The price index for gross domestic purchases increased 0.7% in the second quarter, compared to an increase of 2.5% in the previous quarter.
- Corporate profits from current production increased $21.8 billion in the second quarter, after a decrease of $53.0 billion in the previous quarter.
- Personal income 0.1% in August, while personal consumption expenditures increased 0.5%. The price index for personal consumption expenditures, which held steady in July, rose 0.4% in August. The price index (headline index) was up 1.5% from August 2011.
- New orders for manufactured durable goods decreased 13.2% in August, while shipments decreased 3.0%
- August new home sales decreased 0.3% to an annualized rate of 373 thousand units. The median sales price of new houses sold was $256.9 thousand, 17.0% above the August 2011 figure.
- U.S. House prices rose 0.2% on a seasonally adjusted basis from June to July, according to the Federal Housing Finance Agency’s (FHFA) monthly House Price Index. For the 12 months ending in July, U.S. prices rose 3.7%.
- The S & P/Case-Shiller National U.S. Home Price Index posted annual increases of 0.6% and 1.2% in July, for the 10-city and 20-city composite indices, respectively.
- The Pending Home Sales Index, a leading indicator for the housing sector, decreased 2.6% to a reading of 99.2 in August, according to the National Association of Realtors.
- The 30-year fixed mortgage rate decreased to all-time record low of 3.40% for the week ending September 27.
- The advance figure for initial claims for unemployment insurance decreased by 26 thousand to 359 thousand in the week ending September 22.
- The Conference Board’s consumer confidence index, which had declined in August, improved in September.
- The Thomson Reuters/University of Michigan Index of Consumer Sentiment rose to 78.3 in September from 74.3 in August, the highest level since May.
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September 24th, 2012
- Housing starts increased 2.3% in August, following a 2.8% decrease in the previous month.
- August existing home sales increased 7.8% to an annualized rate of 4,820 thousand units. The August figure was 9.3% above the August 2011 figure. The median sales price of existing houses sold was $187.4 thousand, 9.5% above August 2011.
- The housing market index of National Association of Home Builders (NAHB) and Wells Fargo rose 3 points to 40 in September, its highest level since June 2006.
- The 30-year fixed mortgage rate decreased to 3.49%, matching its all-time record low, for the week ending September 20.
- The current account deficit decreased to $117.4 billion in the second quarter, from $133.6 billion in the first quarter.
- Treasury International Capital reported net foreign purchases of long-term securities of $60.2 billion in July, compared with net purchases of $5.5 billion in the previous month.
- Domestic non-financial debt rose at a seasonally adjusted annual rate of 5.0% in the second quarter of 2012, following an increase of 4.4% in the previous quarter.
- The advance figure for initial claims for unemployment insurance decreased by 3 thousand to 382 thousand in the week ending September 15.
- The September Empire State Manufacturing Survey indicated that manufacturing activity in New York State continued to weaken over the month.
- The Philadelphia FED business outlook survey for September indicated nearly flat business conditions.
- The Conference Board index of leading economic indicators decreased in August, the third time this year.
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September 17th, 2012
- Advance estimates of retail and food services sales for August were up 0.9% from July, and were up 4.7% from August 2011.
- Total manufacturing and trade sales for July increased 0.9%, while inventories increased 0.8%.
- Total Industrial production decreased 1.2% in August, following a 0.5% increase in the previous month.
- In July international trade deficit was $42.0 billion, $0.1 billion more than the revised June figure.
- The federal government budget ran a deficit of $190.5 billion in August. The cumulative deficit for the first eleven months of the fiscal year was $1,164.4 billion, $69.7 billion less than the cumulative deficit during the first eleven months of the previous fiscal year.
- July consumer credit outstanding decreased at an annual rate of 1.5% to $2,705.2 billion.
- The 30-year fixed mortgage rate held steady at 3.55% for the week ending September 13.
- The advance figure for initial claims for unemployment insurance increased by 15 thousand to 382 thousand in the week ending September 8.
- The producer price index for finished goods (headline index) surged 1.7% in August, while the core index increased 0.2%. The producer price index for finished goods increased 2.0% from August 2011 to August 2012.
- The consumer price index (headline index), which held steady in June and July, increased 0.6% in August, while the core index increased 0.1%. The consumer price index increased 1.7% for the 12-month period ending in August, while the core index rose 1.9%.
- The import price index increased 0.7% in August, while the export price index increased 0.9%. The import price index decreased 2.2% from August 2011, while the export price index decreased 0.9%.
- The Thomson Reuters/University of Michigan Index of Consumer Sentiment, preliminary, rose to 79.2 in September from 74.3 in August.
- The Federal Open Market Committee decided to keep its target for the federal funds rate at 0 to 0.25%, and indicated that it is anticipated that economic conditions are likely to warrant exceptionally low levels for the federal funds rate at least through mid-2015. The Committee decided to increase policy accommodation by purchasing additional agency mortgage-backed securities at a pace of $40 billion per month.
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September 10th, 2012
- Total non-farm payroll employment rose 96 thousand to 133.300 million in August, following an increase of 141 thousand in the previous month. Private-sector payrolls increased 103 thousand in the month, while government employment decreased 7 thousand.
- The number of unemployed persons decreased by 250 thousand to 12.544 million. The unemployment rate decreased to 8.1%, from 8.3% in the previous month.
- The average workweek of production and non-supervisory employees held steady at 33.7 hours, while average hourly earnings decreased by a cent to $19.75.
- The advance figure for initial claims for unemployment insurance decreased by 12 thousand to 365 thousand in the week ending September 1.
- Second quarter productivity increased 2.2% in the non-farm business sector, following a 0.5% decrease in the previous quarter. Unit labor costs increased 1.5% in the second quarter, following a 6.4% increase in the previous quarter.
- Sales of domestic cars increased 5.6% in August, while total light vehicle (cars and light trucks) sales increased 3.0%. Total vehicle sales were 14.465 million units in August, at a seasonally adjusted annual rate, compared to 12.420 million in August of 2011.
- July construction spending decreased 0.9% to $834.4 billion. Private construction decreased 1.2%, while public construction decreased 0.4%.
- The 30-year fixed mortgage rate averaged 3.55% for the week ending September 6, down from last week when it averaged 3.59%.
- The Institute for Supply Management’s (ISM) manufacturing survey indicated that the manufacturing sector contracted in August for the third time since July 2009; however, the overall economy grew for the 39th consecutive month. The non-manufacturing survey results indicated growth for the 32nd consecutive month.
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September 3rd, 2012
- Real GDP increased at an annual rate of 1.7% in the second quarter of 2012, after increasing at 2.0% in the previous quarter. In the advance estimate, released a month ago, the increase in real GDP was 1.5%.
- Corporate profits from current production increased $10.4 billion in the second quarter, after a decrease of $53.0 billion in the previous quarter.
- Personal income increased 0.3%, in July, while personal consumption expenditures increased 0.4%. The price index for personal consumption expenditures held steady in July, following a 0.1% increase in the previous month.
- New orders for manufactured goods (excluding semiconductors) increased 2.8% in July, while shipments increased 2.0%.
- The Pending Home Sales Index, a leading indicator for the housing sector, increased 2.4% to a reading of 101.7 in July. The index was 12.4% above July 2011 level.
- The 30-year fixed mortgage rate averaged 3.59% for the week ending August 30, down from the previous week when it averaged 3.66%.
- The advance figure for initial claims for unemployment insurance was unchanged at 374 thousand in the week ending August 25.
- The Thomson Reuters/University of Michigan Index of Consumer Sentiment increased to 74.3 in August, from 72.3 in July.
- The FED’s “Beige Book” indicated that overall economic activity continued to expand gradually in July and early August across most regions and sectors.
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August 27th, 2012
- New orders for manufactured durable goods increased 4.2% in July, following a 1.6% increase in the previous month. Shipments increased 2.6% in July, while inventories increased 0.7%.
- July existing home sales increased 2.3% to an annualized rate of 4,470 thousand units. The July figure was 10.4% above the July 2011 figure. The median sales price of existing houses sold was $187.3 thousand, 9.4% above July 2011.
- July new home sales increased 3.6% to an annualized rate of 372 thousand units. The July figure was 25.3% above the July 2011 figure. The median sales price of new houses sold was $224.2 thousand, 2.5% below the July 2011 figure.
- The 30-year fixed mortgage rate averaged 3.66% for the week ending August 23, up from the previous week when it averaged 3.62%.
- The advance figure for initial claims for unemployment insurance increased 4 thousand to 372 thousand in the week ending August 18.
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August 20th, 2012
- Advance estimates of retail and food services sales for July were up 0.8% from June, and were up 4.1% from July 2011.
- Total manufacturing and trade sales for June decreased 1.1% from while inventories increased 0.1%.
- Total Industrial production increased 0.6% in July, following a 0.1% increase in the previous month.
- Housing starts decreased 1.1% in July, following a 6.8% increase in the previous month.
- The housing market index of National Association of Home Builders (NAHB) and Wells Fargo rose to 37 in August, from 35 in July.
- The 30-year fixed mortgage rate averaged 3.62% for the week ending August 16, up from the previous week when it averaged 3.59%.
- Treasury International Capital reported net foreign purchases of long-term securities of $5.5 billion in June, compared with net purchases of $50.9 billion in the previous month.
- The producer price index for finished goods increased 0.3% in July, while the core index increased 0.4%.
- The consumer price index held steady in July, while the core index increased 0.1%.
- The advance figure for initial claims for unemployment insurance increased 2 thousand to 366 thousand in the week ending August 11.
- The August Empire State Manufacturing Survey indicated that manufacturing activity in New York State deteriorated over the month.
- The Philadelphia FED business outlook survey for August indicated weaker business conditions.
- The Thomson Reuters/University of Michigan Index of Consumer Sentiment increased in August.
- The Conference Board index of leading economic indicators increased 0.4% in July, while the coincident index increased 0.3%.
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August 13th, 2012
- In June international trade deficit was $42.9 billion, $5.1 billion less than the revised May figure.
- The import price index decreased 0.6% in July, while the export price index increased 0.5%.
- Sales of merchant wholesalers in June were down 1.4% , while inventories were down 0.2%.
- Second quarter productivity increased 1.6% (seasonally adjusted annual rate) in the non-farm business sector, following a 0.5% decrease in the previous quarter. Productivity in the non-farm business sector increased 1.1% from the second quarter of 2011.
- The advance figure for initial claims for unemployment insurance decreased 6 thousand to 361 thousand in the week ending August 4.
- The federal government budget ran a deficit of $69.6 billion in July, after a deficit of $59.7 billion in the previous month. The cumulative deficit for the first ten months of the fiscal year was $973.8 billion, $126.1 billion less than the cumulative deficit during the first ten months of the previous fiscal year.
- June consumer credit outstanding increased at an annual rate of 3.0% to $2,577.4 billion.
- The 30-year fixed mortgage rate averaged 3.59% for the week ending August 9, up from the previous week when it averaged 3.55%.
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August 6th, 2012
- Total non-farm payroll employment rose 163 thousand to 133.245 million in July, following an increase of 64 thousand in the previous month. Private-sector payrolls increased 172 thousand in the month, while government employment decreased 9 thousand.
- The rate of unemployment increased to 8.3%.
- The advance figure for initial claims for unemployment insurance increased 8 thousand to 365 thousand in the week ending July 28.
- Sales of domestic cars decreased 2.1% in July, while total light vehicle (cars and light trucks) sales decreased 2.0%. Total sales were 14.048 million units in July, at a seasonally adjusted annual rate, compared to 12.368 million in July of 2011, and 11.675 million in July of 2010.
- New orders for manufactured goods (excluding semiconductors) decreased 0.5% in June, while shipments decreased 1.1%.
- June construction spending increased 0.4%, following a 1.6% increase in the previous month. Private construction increased 0.7%, while public construction increased less than 0.1%. June construction put in place was 7.0% above such construction in June 2011.
- The 30-year fixed mortgage rate averaged 3.55% for the week ending August 2, up from the previous week when it averaged 3.49%.
- The Institute for Supply Management’s (ISM) manufacturing survey indicated that the manufacturing sector contracted in July for the second time since July 2009; however, the overall economy grew for the 38th consecutive month.
- In July, the Institute for Supply Management’s (ISM) non-manufacturing survey results indicated growth in the non-manufacturing business activity (exceeded 50.0%) for the 31st consecutive 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 is anticipated that economic conditions, including low rates of resource utilization, and a subdued outlook for inflation are likely to warrant exceptionally low levels for the federal funds rate at least through late 2014.
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July 31st, 2012
- Real GDP increased at an annual rate of 1.5% in the second quarter of 2012, after increasing at 2.0% in the previous quarter. The price index for gross domestic purchases increased 0.7% in the second quarter, compared to an increase of 2.5% in the previous quarter.
- Personal income increased 0.5% in June, while personal consumption expenditures decreased less than 0.1%. The price index for personal consumption expenditures increased 0.1% in June, following a 0.2% decrease in the previous month.
- New orders for manufactured durable goods increased 1.6% in June, while shipments increased 0.1%.
- June new home sales decreased 8.4% to an annualized rate of 350 thousand units. The June figure was 15.1% above the June 2011 figure. The median sales price was $232.5 thousand, 3.3% below the June 2011 figure.
- The Pending Home Sales Index, a leading indicator for the housing sector, decreased 1.4% to a reading of 99.3 in June.
- Fixed mortgage rates continued to find new all-time record lows, according to Freddie Mac’s weekly primary mortgage market surveys. The 30-year fixed mortgage rate averaged 3.49% for the week ending July 26, down from the previous week when it averaged 3.53%.
- The advance figure for initial claims for unemployment insurance decreased 35 thousand to 353 thousand in the week ending July 21.
- The Employment Cost Index for total compensation rose 0.5%, seasonally adjusted, for the 3-month period ending June 2012, following a 0.4% increase for the 3–month period ending March 2012.
- The Conference Board’s consumer confidence index, which had declined in June, improved slightly in July.
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