Author Tim Nicholson

Economy

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.

Economy

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

Economy

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

Economy

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

Economy

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

Economy

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

Economy

Existing-home sales fell 0.9% to a seasonally adjusted annual rate of 5.33 million in August, according to the National Association of Realtors (NAR). High prices and low inventories appear to have suppressed sales. “It is very concerning to see that inventory conditions not only show no signs of improving but have actually worsened in recent

Economy

Housing starts fell to a seasonally adjusted annual rate of 1.142 million in August, 5.8% below the revised July rate of 1.212 million, but 0.9% above the August 2015 rate. Housing activity increased in most regions, rising 7.6% in the Northeast, 5.6% in the Midwest, and 1.8% in the West. These increases were more than

Economy

The National Association of Home Builders/Wells Fargo Housing Market Index increased 6 points to 65 in September, up from a downwardly revised reading of 59 in August. September’s reading marked the highest HMI since October 2015. “With the inventory of new and existing homes remaining tight, builders are confident that if they can build more

Economy

Household net worth rose in the second quarter of 2016 to $89.1 trillion, a 1.2% increase from the previous quarter and a 3.1% increase from a year earlier. Household nonfinancial assets increased 1.7% during the second quarter, Most of this increase came from real estate holdings, which grew by $473.9 billion. Growth in wealth derived

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