Banks and the Economy

OCC: Bank Trading Revenues Increased in Q2

Commercial banks reported total trading revenue of $6.9 billion in the second quarter of 2016, up from $5.8 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 Fell for Second Consecutive Month

Construction spending for August was estimated at a seasonally adjusted annual level (SAAL) of $1,142.2 billion according to the U.S. Census Bureau, down 0.7% from a revised July estimate of $1,150.6 billion. During the first eight months of the year, construction spending amounted to $755.0 billion, up 4.9% from the first eight months of 2015. Total private construction fell to ...

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Manufacturing Expanded in September

The ISM Manufacturing Index registered 51.5 points in September, up 2.1 points from August. September’s reading indicates expansion in the manufacturing sector (readings over 50 points denote expansion). Of the eighteen manufacturing industries, seven reported growth while eleven reported contraction. The Employment Index registered 49.7 points in September, up 1.4 points from August’s reading but indicating contraction for the third ...

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Consumer Sentiment Edged up in September

Consumer Sentiment rose 1.4 points in September to 91.2, according to the University of Michigan Consumer Sentiment Index. The Current Economic Conditions Index fell 2.8 points to 104.2, while the Index of Consumer Expectations rose 4.0 points to 82.7. “Confidence edged upward in September due to gains among higher income households, while the Sentiment index among households with incomes under ...

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Personal Income Increased for Sixth Consecutive Month

Personal income increased 0.2% ($39.3 billion) in August according to the Bureau of Economic Analysis, down from a 0.4% increase in July. Personal consumption expenditures also increased, rising less than 0.1% or $6.2 billion. Real disposable personal income – personal income less personal taxes – increased 0.1% after rising 0.3% in July. The personal savings rate – personal savings as ...

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Second Quarter GDP Revised up to 1.4%

Real GDP for the second quarter of 2016 grew at an annual rate of 1.4%, according to the Bureau of Economic Analysis’s third estimate, up from the second estimate of 1.1%. The general picture of economic growth remained the same, as revisions to GDP components were small. The changes reflected minor upward revisions to nonresidential fixed investment, private inventory investment, ...

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Durable Goods Orders Unchanged in August

New orders for manufactured durable goods were virtually unchanged in August, following a 3.6% increase in July, according to the U.S. Census Bureau. New orders excluding defense decreased 1.0% on the month, as orders of nondefense capital goods fell 4.4% to $65.0 billion. Shipments of manufactured durable goods fell 0.4% to $231.7 billion, after being virtually unchanged in in July. ...

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