Author Jack McCabe

Economy

Total nonfarm payroll employment grew by 155,000 in November, a decrease from last month’s downwardly revised reading of 237,000, according to the Bureau of Labor Statistics. The national unemployment rate remained at 3.7%. Private service-providing industries gained 132,000 jobs, led by health care and social assistance, which added 40,000 jobs. Goods-producing employment rose by 29,000

Economy

New orders for manufactured goods decreased 2.0 percent to $502.7 billion in October, according to the U.S. Census Bureau. The increase followed a 0.2 percent increase in September. New orders for manufactured durable goods decreased 4.3 percent to $249.0 billion in October. Transportation equipment drove the decrease, falling 12.0 percent to $84.8 billion. Shipments of

Economy

The U.S. international trade deficit widened in October, rising 1.7 percent to $55.5 billion, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Imports rose by 0.2 percent, while exports declined by 0.1 percent. September’s trade deficit was revised from $54.0 billion to $54.6 billion. The goods deficit increased 1.0 percent

Economy

The ISM Non-Manufacturing Index registered 60.7 points in November, 0.4 percentage point above October’s figure. This was the 106th consecutive month of expansion as a reading above 50 indicates growth. Seventeen non-manufacturing industries reported growth, while one reported a decrease. The majority of respondents remain positive about business conditions and the economy, but employment resources and

Economy

The non-farm private sector added 179,000 jobs in November, according to the ADP National Employment Report. This followed a downwardly revised 225,000 job increase in October. Small businesses with fewer than 50 employees gained 46,000 jobs. Medium-sized businesses with 50-499 employees created 119,000, while large businesses added 13,000 jobs. “Although the labor market performed well,

Economy

Economic activity expanded at a modest to moderate pace across most of the twelve Federal Reserve Districts in mid-October through late November, according to the just-released Federal Reserve Beige Book. Dallas and Philadelphia reported slower growth compared to the prior period. The report was based on information collected through November 26. The economic expansion over

Economy

Construction spending decreased 0.1 percent at a seasonally adjusted annual rate (SAAR) of $1,308.8 billion in October, according to the Census Bureau. September’s spending estimate was downwardly revised to $1,310.8 billion. October’s figure is 4.9 percent greater than the October 2017 estimate of $1,247.5 billion. Total private construction was $998.7 billion SAAR, a 0.4 percent

Economy

The ISM Manufacturing Index registered 59.3 points in November, up 1.6 percentage points from the previous month, according to the Institute for Supply Management. November’s reading indicates the twenty-seventh consecutive month of expansion in manufacturing, as readings over 50 points denote expansion. Of the eighteen manufacturing industries, thirteen reported growth, while three reported contraction. Nine

Economy

The Federal Open Market Committee (FOMC) signaled that an interest rate increase is likely at next month’s meeting, but that the timing of increases over the next year is more uncertain. “Almost all participants expressed the view that another increase in the target range for the federal funds rate was likely to be warranted fairly

Economy

New single-family home sales decreased to a seasonally adjusted annual rate of 544,000 in October, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The October level was 8.9 percent below the revised September rate of 597,000 and 12.0 percent below the October 2017 estimate. Sales decreased in all four

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