Browsing: Economy

Economy

The U.S. international trade deficit widened in July, rising 9.5 percent to $50.1 billion, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Imports rose 0.9 percent, while exports fell 1.0 percent. June’s trade deficit was downwardly revised from $46.3 billion to $45.7 billion. The goods deficit increased 6.1 percent to

Economy

Construction spending increased 0.1 percent at a seasonally adjusted annual rate (SAAR) of $1,315.4 billion, in July, according to the Census Bureau. June’s spending estimate was downwardly revised to $1,314.2 billion. July’s figure is 5.8 percent greater than the July 2017 estimate of $1,242.8 billion. Total private construction was $1,010.9 billion SAAR, a 0.1 percent

Economy

The ISM Manufacturing Index registered 61.3 points in August, up 3.2 percentage points from the previous month, according to the Institute for Supply Management. August’s reading indicates the twenty-fourth consecutive month of expansion in manufacturing, as readings over 50 points denote expansion. Of the eighteen manufacturing industries, sixteen reported growth, while two reported contraction. Nine

Economy

Real GDP grew at a seasonally adjusted annual rate of 4.2 percent during the second quarter of 2018, according to the Bureau of Economic Analysis’s second estimate, up from 4.1 percent in the “advance” estimated. The general picture of economic growth remained the same. The percent change primarily reflected an upward revision to fixed investment

Economy

The Conference Board Consumer Confidence Index increased 5.4 points to 133.4 in August. The Present Situation Index increased 6.1 points to 172.2. The Expectations Index rose 5.2 points to 107.6. “Consumer confidence increased to its highest level since October 2000 (Index, 135.8), following a modest improvement in July,” said Lynn Franco, Director of Economic Indicators

Economy

Federal Reserve Chairman Jerome Powell issued a strong defense of the Federal Open Market Committee’s gradual path to normalizing interest rates today, emphasizing that this path addresses both the risk of acting too fast and choking off economic growth too soon and the risk of not tightening before inflation accelerates too quickly.

Economy

New orders for manufactured durable goods decreased 1.7 percent in July to $246.9 billion, following a 0.7 percent June increase, according to the U.S. Census Bureau. Transportation equipment drove the decrease, falling 5.3 percent to $82.8 billion over the month. New orders, excluding the transportation sector, rose 0.2 percent. Excluding defense, new orders decreased 1.0

Economy

New single-family home sales decreased to a seasonally adjusted annual rate of 627,000 in July, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The July level was 1.7 percent below the revised June rate of 638,000 but 12.8 percent above the July 2017 estimate. Sales decreased 52.3 percent in

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