Browsing: Economy

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

Economy

The non-farm private sector added 204,000 jobs in April, according to the ADP National Employment Report. This followed a downwardly revised 228,000 job increase in February. Small businesses with fewer than 50 employees gained 62,000 jobs. Medium-sized businesses with 50-499 employees created 88,000, while large businesses added 54,000 jobs. “The labor market continues to maintain

Economy

The ISM Manufacturing Index registered 57.3 points in April, down 2.0 percentage points from the previous month, according to the Institute for Supply Management. April’s reading indicates the twentieth consecutive month of expansion in manufacturing, as readings over 50 points denote expansion. Of the eighteen manufacturing industries, seventeen reported growth, while none reported contraction. Nine

Economy

Construction spending decreased 1.7% at a seasonally adjusted annual level (SAAL) of $1,284.7 billion, in March, according to the Census Bureau. February’s spending estimate was upwardly revised to $1,306.4 billion. March’s figure is 3.6% greater than the March 2017 estimate of $1,239.6 billion. Total private construction was $987.5 billion SAAL, a 2.1% decrease from the

Economy

Consumer Sentiment fell 2.6 points in March to 98.8, according to the University of Michigan Consumer Sentiment Index. Last month’s index was the highest reading since 2004. April’s figure is 1.9% above the April 2017 index. The Current Economic Conditions Index slowed 6.3 points to 114.9. The reading was 2.0% above the March 2017 estimate.

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