Browsing: Economy

Economy

Commercial banks added $48.9 billion in loans and leases in June according to the Federal Reserve’s H.8 statistical release, an increase of 0.6 percent. Total loans and leases increased $25.4 billion (0.3 percent) in May. Total bank assets for commercial banks fell for the second month in a row, declining $16.4 billion (0.1 percent) to

Economy

Existing home sales increased 3.2 percent to a seasonally adjusted rate of 5.49 million in June, according to the National Association of Realtors, up from a downwardly revised 5.32 million in May. Existing home sales have increased year over year for the last nine months. Median existing home prices increased 6.5 percent year over year

Economy

Housing starts in June were at a seasonally adjusted annual rate of 1.174 million, 9.8 percent above the revised May estimate of 1.069 million and 26.6 percent higher than 927,000 in June 2014. The figure for single family housing was 687,000, 0.9 percent below the revised May estimate. The housing activity was mixed across regions,

Economy

The Consumer Price Index increased 0.3 percent in June. The rise was broad-based, with increases in gasoline, shelter and food prices. The index rose 0.1 percent over the last 12 months. The energy index gained 1.7 percent in June, following a 4.3 percent increase in May. Gasoline prices rose 3.4 percent and natural gas gained

Economy

The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) reached a level of 60 in July, the highest reading since November 2005. Two of the three index components posted gains for the month. Current sales conditions rose 1 point to 66, expectations for sales in the next six months rose 2 points to

Economy

Economic activity expanded across all twelve Federal Reserve Districts from mid- May through June according to the July 2015 edition of the Federal Reserve Beige Book. Activity across most districts grew at a modest to moderate pace, while growth in Cleveland and Boston held steady. Banking conditions were positive across most Districts, as overall demand

Economy

Industrial production increased 0.3 percent in June, the first gain in seven months. Over the past year, industrial production is up 1.5 percent. Manufacturing output was unchanged from May. Mining output increased 1.0 percent, an improvement after declining more than 1 percent per month on average over the previous five months. Output of utilities rose

Economy

Producer prices climbed 0.4 percent in June, seasonally adjusted, according to the U.S. Bureau of Labor Statistics, principally reflecting a 0.7 percent hike in prices for final demand goods. This was the third monthly increase in the past six months, yet producer prices fell 0.7 percent on a yearly basis. Sixty percent of the broad-based

Economy

Individuals who have applied for credit are reporting higher approval rates, according to the Federal Reserve Bank of New York’s latest Credit Access Survey released today, which gauges consumers’ experiences and expectations regarding credit over the previous year. The results show that the share of applicants who received credit in the past 12 months rose

Economy

The NFIB Small Business Optimism Index decreased 4.2 points in June. Nine of the ten components posted declines over the last month, while the expected credit conditions component showed no change. The number of owners planning to increase employment fell 3 points from May to the lowest reading since September. Fifty-two percent of owners reported

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