Author Archives: Stephen Newton

Housing Starts Rebound in October

Housing starts increased to a seasonally adjusted annual rate of 1.290 million in October, according to the U.S. Department of Commerce. The rise was 13.7% above the upwardly revised September rate of 1.225 million but is 2.9% below the October 2016 rate. Single-family home starts grew 5.3% from last month. Housing activity increased in three of the four regions as the Northeast, ...

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Industrial Production Rises in October

Industrial production rose 0.9% in October after a 0.4% increase in September, according to the Federal Reserve. October’s growth was the most since April. Manufacturing output jumped 1.3% in October after posting 0.4% growth in September. Production of durable and nondurable goods increased 0.4% and 2.3%, respectively. Capacity utilization for manufacturing increased from 75.5% to 76.4%, a rate that is ...

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Consumer Prices Slightly Rise in October

The Consumer Price Index grew 0.1% in October on a seasonally adjusted basis, according to U.S. Bureau of Labor Statistics. This followed a 0.5% September increase. Over the last 12 months, the all-items index rose 2.0%. Prices for all items less food and energy, the “core CPI,” grew 0.2% in October, following a 0.1% September increases. The index rose 1.8% ...

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Small Business Optimism Rises Moderately in October

The NFIB Small Business Optimism Index ticked upwards to 103.8, 0.8 point above September’s reading. Four of the ten index components rose, while five declined. Twenty-three percent of business owners surveyed said the next three months was a good time to expand, six points higher than last month’s reading. Reported job creation grew two points, as 59% of businesses reported ...

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Producer Prices Grew 0.4% in October

Producer prices increased 0.4% in October, seasonally adjusted, after growing 0.4% in September, according to the U.S. Bureau of Labor Statistics. Producer prices rose 2.8% for the twelve months ended October 2017, the largest gain since the twelve months ended February 2012. The index for final demand goods advanced 0.3% in October, the third consecutive increase. The index for final ...

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Consumer Credit Growth Accelerates in September

Consumer credit increased at a seasonally adjusted annual rate of 6.6% in September, up from a 4.2% rate in August. Total outstanding credit increased $20.8 billion during the month (compared with $13.1 billion in August) to $3.79 trillion. September’s report was the largest increase since November 2016. Revolving credit, largely a reflection of credit card debt, grew at an annual ...

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Manufactured Goods Orders Grew 1.4% in September

New orders for manufactured goods increased 1.4% to $478.5 billion in September, according to the U.S. Census Bureau. It followed a 1.2% rise in August. New orders for manufactured durable goods grew 2.0% to $238.4 billion in September. Transportation equipment led the increase, jumping 4.7% to $80.9 billion. Shipments of manufactured durable goods increased 0.9% to $240.3 billion. Inventories of ...

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ISM: Non-Manufacturing Sector Grew in October

The ISM Non-Manufacturing Index registered 60.1 points in October, 0.3 percentage point above September’s figure. This was the 94th consecutive month of expansion as a reading above 50 indicates growth. Sixteen non-manufacturing industries reported growth in October, while two reported contraction. October’s reading was the highest since the index debuted in 2008. Growth in the Business Activity Index increased 0.9 ...

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231,000 Jobs Added in October

Total nonfarm payroll employment grew 231,000 in October, rebounding from last month’s dismal reading due to Hurricane activity, according to the Bureau of Labor Statistics. The national unemployment rate ticked down from 4.2% to 4.1%, the lowest level since December 2000. Private service-providing industries gained 252,000 jobs, led by leisure and hospitality services, which added 106,000 after shedding 102,000 last ...

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International Trade Balance Widened in September

The U.S. international trade deficit widened in September, growing 1.7% to $43.5 billion, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Imports increased 1.2%, while exports grew 1.4%. September’s report followed a shrinking trade balance in the previous month. August’s trade deficit was upwardly revised slightly from $42.4 billion to $42.8 billion. The goods deficit ...

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