Browsing: Economy

Economy

Employers announced plans to cut 28,307 jobs in July, according to a report issued by Challenger, Gray & Christmas, the lowest monthly total since November 2016. July’s announced cuts were 9% lower than June’s. The month’s figure was 37.6% lower than July 2016. The retail sector continues to lead the way in job cuts, with

Economy

The non-farm private sector added 178,000 jobs in July, according to the ADP National Employment Report. June’s figure was revised up from 158,000 to 191,000. Professional and business services jobs accounted for 36.4% of July’s growth. Businesses of all sizes saw steady increases. Small businesses with fewer than 50 employees rebounded from a sluggish June,

Economy

Construction spending slowed in June, landing at a seasonally adjusted annual level (SAAL) of $1,205.8 billion, according to the Census Bureau. May’s spending estimate was revised to a rate of $1,221.6 billion. June’s figure is 1.6% greater than the June 2016 estimate of $1,186.4 billion. Total private construction was $940.7 billion SAAL, a 0.1% decrease

Economy

The ISM Manufacturing Index registered 56.3 points in July, down 1.5 percentage points from the previous month, according to the Institute for Supply Management. July’s reading indicates an eleventh consecutive month of expansion in manufacturing, as readings over 50 points denote expansion. Of the eighteen manufacturing industries, fifteen reported growth, while three reported contraction. Eight

Economy

Consumer Sentiment fell 1.8 points in July to 93.4, according to the University of Michigan Consumer Sentiment Index. The Current Economic Conditions Index rose 0.8 point to 113.4, while the Consumer Expectations Index decreased 4.1 points to 80.5. “Consumer confidence remained largely unchanged at the same favorable level recorded at mid-month. The overall Sentiment Index

Economy

Real GDP grew at a seasonally adjusted annual rate of 2.6% during the second quarter of 2017, according to the Bureau of Economic Analysis’s “advance” estimate, up from 1.2% in the first quarter. The acceleration in real GDP reflected positive contributions from personal consumption expenditures, nonresidential fixed investment, exports, and federal government spending. These were

Economy

The U.K.-based Financial Conduct Authority today announced that the London Interbank Offer Rate, or Libor, will continue to be supported by reporting banks until the end of 2021.

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