Author Stephen Newton

Economy

The Consumer Price Index increased 0.2% in April on a seasonally adjusted basis, according to U.S. Bureau of Labor Statistics. This followed a 0.1% March decline. Over the last 12 months, the all-items index rose 2.5%. Prices for all items less food and energy, the “core CPI,” grew 0.1% in April, following a 0.2% March

Economy

Producer prices increased 0.1% in April, seasonally adjusted, after rising 0.3% in March, according to the U.S. Bureau of Labor Statistics. Producer prices rose 2.6% for the twelve months ended April 2017. The index for final demand goods was unchanged in April, after increasing 0.3% last month. The index for final demand energy rose 0.1%,

Economy

The NFIB Small Business Optimism Index grew to 104.8, 0.1 point above March’s reading. Four of the ten index components rose in April, while three declined. Twenty-seven percent of business owners surveyed said the next three months was a good time to expand, one point lower than last month’s reading. Reported job creation grew four

Economy

Consumer credit increased at a seasonally adjusted annual rate of 3.6% in March, down from a 4.3% rate in February. Total outstanding credit increased $11.7 billion during the month (compared with $13.6 billion in February) to $3.87 trillion. Revolving credit, largely a reflection of credit card debt, declined at an annual rate of 3.0% to

Economy

Total nonfarm payroll employment grew by 164,000 in April, an increase from last month’s reading of 135,000, according to the Bureau of Labor Statistics. The national unemployment rate fell to 3.9%, the first sub-4% unemployment figure since 2000. Private service-providing industries gained 119,000 jobs, led by professional and business services and education and health care,

Economy

New orders for manufactured goods grew 1.6% to $507.7 billion in March, according to the U.S. Census Bureau. The increase followed a 1.7% rise in February. New orders for manufactured durable goods increased 2.6% to $255.2 billion in March. Transportation equipment led the increase, growing 7.6% to $91.4 billion. Shipments of manufactured durable goods increased

Economy

The ISM Non-Manufacturing Index registered 56.8 points in April, 2.0 percentage points below March’s figure. This was the 99th consecutive month of expansion as a reading above 50 indicates growth. All eighteen non-manufacturing industries reported growth in April. Growth in the Business Activity Index decreased 1.5 points to 59.1, the 105th consecutive month of growth.

Economy

The U.S. international trade deficit narrowed in February, falling 15.2% to $49.0 billion, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. February’s report was the highest level since October 2008. Imports fell 1.8%, while exports rose 2.0%. January’s trade deficit was upwardly revised from $57.6 billion to $57.7 billion. The

Economy

Employers announced plans to cut 36,081 jobs in April, according to a report issued by Challenger, Gray & Christmas. April’s announced cuts were 40.2% below March’s and 1.4% lower than last April’s. The retail sector led the way, cutting 7,844 jobs in April. This is 28.4% higher than the same period last year. The energy

Economy

At its meeting today, the Federal Open Market Committee (FOMC) unanimously voted to hold the target range for the federal funds rate steady at 1.5 to 1.75 percent. The committee most recently raised rates by 25 basis points in their March meeting. Fed officials are split between three or four hikes in 2018, and markets

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