Banks and the Economy

Low Job Cuts in December

Employers announced plans to cut 33,627 jobs in December, according to a report issued by Challenger, Gray & Christmas. December’s announced cuts were 25% higher than November’s. For the year, employers have announced 526,915 job cuts, down 12% from 2015. The steepest job cuts for the year occurred in the energy sector, which announced 107,714 layoffs over 2016. Most of ...

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OCC: Bank Trading Revenues Fell in Q3

Commercial banks reported total trading revenue of $6.4 billion in the third quarter of 2016, down from $7 billion in the previous quarter, according to the OCC’s Quarterly Report on Bank Trading and Derivatives Activities released today.

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Construction Spending Rose in November

Construction spending increased 0.9% in November to a seasonally adjusted annual level (SAAL) of $1,182.1 billion, according to the Census Bureau. October’s spending estimate was revised to a rate of $1,171.4 billion. During the first eleven months of the year, construction spending amounted to $1,070.9 billion, up 4.4% from the first eleven months of 2015. Total private construction rose to ...

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Manufacturing Sector Expanded in December

The ISM Manufacturing Index registered 54.7 points in December, up 1.5 points from the previous month, according to the Institute for Supply Management. December’s reading indicates a fourth consecutive month of expansion in manufacturing, as readings over 50 points denote expansion. Of the eighteen manufacturing industries, eleven reported growth while six reported contraction. The Employment Index rose 0.8 points to ...

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Growth Capital

The capital environment shifts to a proactive posture as community banks position themselves for expansion and acquisition.

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Personal Income Increased in November

Personal income increased $1.6 billion in November, or less than 0.1%, according to the Bureau of Economic Analysis, down from a 0.5% increase in October. Personal consumption expenditures also increased, rising 0.2% or $24.0 billion. Disposable personal income – personal income less personal taxes – decreased $1.3 billion, or less than 0.1%. The personal savings rate – personal savings as ...

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GDP Revised Up to 3.5% for Third Quarter

Real GDP for the third quarter of 2016 grew at a seasonally adjusted annual rate of 3.5%, according to the Bureau of Economic Analysis’s third estimate, up from the second estimate of 3.2%. The general picture of economic growth remains the same. The change in GDP estimates reflected upward revisions to nonresidential fixed investment, personal consumption expenditures, and state and ...

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