New orders for manufactured goods, down following two consecutive monthly increases, fell $4.6 billion or 1.0 percent to $455.2 billion, according to the U.S. Census Bureau. This followed a 1.8 percent increase in April. Shipments, down three of the last four months, decreased $0.6 billion or 0.2 percent to $231.6 billion. Inventories, down ten of
Commercial banks reported total trading revenue of $5.8 billion in the first quarter of 2016, up from $4.3 billion in the previous quarter, according to the OCC’s Quarterly Report on Bank Trading and Derivatives Activities released today.
The Federal Reserve today approved the capital plans of 30 out of 33 large banks participating in the Comprehensive Capital Analysis and Review. Only two banks — both foreign — saw their plans rejected, while one U.S. bank won a conditional “non-objection.”
Personal income increased 0.2%, $37.1 billion in May, according to the Bureau of Economic Analysis, down from a 0.5% gain in April. Personal consumption expenditures also increased, rising 0.4% or $53.5 billion. Real disposable income – personal income less personal taxes – increased 0.1%, compared with a 0.2% increase in April. The personal savings rate
The Conference Board Consumer Confidence Index rose to 98.0 in June, up 5.6 points from the previous month. The Present Situation Index rose 5.1 points to 118.3, while the Expectations Index rose 6.0 points to 84.5. “Consumers were less negative about current business and labor market conditions, but only moderately more positive, suggesting no deterioration
The 20-City Case-Shiller Composite Index increased 5.4 percent year-over-year in April, just below March’s rate of 5.5 percent. The 10-City Composite Index increased by 4.7 percent annually, down from a 4.8 percent increase in the previous month. The National Index, which covers all nine Census divisions increased by 5.0 percent, down from 5.1 percent in
Real GDP for the first quarter of 2016 grew at an annual rate of 1.1 percent, according to the Bureau of Economic Analysis’s third estimate. First quarter GDP was revised up from the second estimate of 0.8 percent growth, as consumption was revised downward and exports increased more than previously estimated. During the fourth quarter
Beyond the economic implications of the de novo drought, the lack of bank startups will have profound effects on future banking industry leaders.
By James Chessen he FDIC put out the neon welcome sign to de novos in early April. In addition to cutting down the period of heightened supervision from seven to three years, the FDIC refreshed its answers to key questions and is developing a guide to the deposit insurance application process to increase transparency. This
Consumer sentiment fell to 93.5 in June, down 1.2 points from the previous month, according to the University of Michigan Consumer Sentiment Index. The Current Economic Conditions Index improved 0.9 points to 110.8, while the Index of Consumer Expectations fell 2.5 points to 82.4. “Consumer were a bit less optimistic in late June due to