Banks and the Economy

Producer Prices Declined 0.1% in July

Producer prices fell 0.1% in July, seasonally adjusted, after increasing 0.1% in June, according to the U.S. Bureau of Labor Statistics. Producer prices rose 1.9% for the twelve months ended July 2017. The index for final demand goods decreased 0.1% in July after growing 0.1% in the previous month. The index for final demand energy fell 0.3%, the third consecutive ...

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Fed Survey Examines Credit Trends among Startups

Startup firms -- those between zero and five years old that have more than one and fewer than 500 employees -- face greater financing challenges than more mature businesses, according to a survey released today by the Federal Reserve.

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Small Business Optimism Rose to Five Month High in July

The NFIB Small Business Optimism Index grew to 105.2, its highest reading since February. July’s index was 1.6 points above June’s 103.6 reading. Seven of the ten index components rose, while two declined. Reported job creation jumped 6 points, as 60% of businesses reported hiring or trying to hire. However, 52% reported few or no qualified applicants for the positions ...

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Consumer Credit Growth Slowed in June

Consumer credit increased at a seasonally adjusted annual rate of 3.9% in June, down from a revised 5.7% rate in May. Total outstanding credit increased $12.4 billion during the month (compared with $18.3 billion in May) to $3.86 trillion. Revolving credit grew at an annual rate of 4.9% to $1.0 trillion, compared to an 8.2% increase in May. Non-revolving credit ...

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International Trade Balance Narrowed in June

The U.S. international trade deficit narrowed for the second consecutive month, falling to $43.6 billion, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. June’s decrease was down $2.8 billion from a $46.4 billion trade deficit in May. The increase reflected a $2.4 billion growth in exports along with a $0.4 billion decrease in imports. The ...

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209,000 Jobs Added in July

Total nonfarm payroll employment rose by 209,000 in July, a small decrease from June’s upwardly revised figure of 231,000, according to the Bureau of Labor Statistics. The national unemployment rate fell to 4.3%, staying within a 10 basis point range in the last four months. Private service-providing industries added a net 183,000 jobs, led by gains in leisure and hospitality, ...

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