Author Jack McCabe

Economy

New orders for manufactured goods decreased 2.4% to $458.3 billion in November, according to the U.S. Census Bureau. The November reading followed four months of increases. New orders for manufactured durable goods fell 4.5% to $228.8 billion, after increasing 5.0% in October. Orders for transportation equipment drove the decrease, rising 13.2% to $76.7 billion. Shipments

Economy

The U.S. international trade deficit expanded in November to $45.2 billion, up from $42.6 billion in October, according to the U.S. Census Bureau of Economic Analysis. The expansion reflected a $0.4 billion decrease in exports along with a $2.4 billion increase in imports. The goods deficit increased $3.4 billion to $66.6 billion, while the services

Economy

Total nonfarm payroll employment rose by 156,000 in December, down from November’s upwardly revised figure of 204,000, according to the Bureau of Labor Statistics. The national unemployment rate moved up slightly to 4.7% as more people entered the labor force. The majority of gains occurred in health care and restaurants. Private-service providing industries added a

Economy

The ISM Non-Manufacturing Index registered 57.2 points in December, matching November’s figure. This was the 83rd consecutive month of growth. Twelve non-manufacturing industries reported growth in December, while three reported contraction. Growth in the Business Activity Index decreased 0.3 points to 61.4. Eleven industries reported increased business activity and four reported decreased activity. Respondents noted

Economy

The non-farm private sector added 153,000 jobs in December, according to the ADP National Employment Report. November’s figure was revised downward slightly to 215,000. Service-providing jobs accounted for all of the month’s growth, while goods-producing employment fell during the month. Growth was widespread in December with businesses of all sizes seeing increases. Small businesses with

Economy

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

Economy

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.

Economy

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

Economy

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

Economy

New orders for manufactured durable goods decreased 4.6% in November to $228.2 billion, following four consecutive monthly increases, according to the U.S. Census Bureau. New orders excluding defense fell 6.6% on the month, as orders of nondefense capital goods decreased 19.5% to $64.4 billion. Shipments of manufactured durable goods, up two of the last three

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