ABA Adds Five Banks to ABA Nasdaq Community Bank Index
The American Bankers Association added five banks to its Nasdaq Community Bank Index (ABAQ) today.
Browsing: Economy
Manufacturing Sector Remains Weak in May
The ISM Manufacturing Index registered 43.1 points in May, as increase of 1.6 percentage points…
Bank Economists Forecast 6% Contraction, with Recovery to Begin in Q3
The nation’s top economists forecast that the economy will experience a 6% contraction in 2020, with conditions beginning to recover sometime around the third quarter after a sharp second-quarter decline, according to the American Bankers Association’s Economic Advisory Committee.
ABA Data Bank: EAC Expects Real GDP to Contract by 5.7% in 2020
However, economists expressed a wide range of views, with little clustering, reflecting the great degree of economic uncertainty of the times.
Consumer Sentiment Remains Largely Unchanged in May
Consumer Sentiment increased 0.5 points in May to 72.3, according to the University of Michigan…
New Home Sales Rise Slightly in April
New single-family home sales rose to a seasonally adjusted annual rate of 623,000 in April,…
Existing-Home Sales Plunge 17.8% in April
Existing-home sales dropped by 17.8% in April to a seasonally adjusted annual rate of 4.33…
FOMC Minutes: Members See Economic Activity Declining at ‘Unprecedented Rate’ in Q2
Members of the Federal Reserve Open Market Committee said they expect economic activity in the second quarter to “decline at an unprecedented rate” as the coronavirus pandemic persists in the U.S., with the heaviest burden likely to fall on the “most vulnerable and financially constrained households in the economy.”
Powell Warns of Longer-Term Economic Consequences of Coronavirus Pandemic
Testifying before the Senate Banking Committee today, Federal Reserve Chairman Jerome Powell flagged risks that could arise if the economic downturn associated with the pandemic continues for an extended time period.
Housing Starts Plunge in April
Housing starts decreased to a seasonally adjusted annual rate of 891,000 in April, according to…