Browsing: Economy

Economy

Consumer credit increased at a seasonally adjusted annual rate of 8.5% in August, up from a 5.9% rate in July. Total outstanding credit rose $25.9 billion during the month (compared with $14.5 billion in July) to $3.69 trillion. Revolving credit rose at an annual rate of 7.0% to $974.6 billion, compared to a 3.5% increase

Economy

Total nonfarm payroll employment rose by 156,000 in September, down from August’s upwardly revised figure of 167,000. The national unemployment rate increased to 5.0%. The majority of gains occurred in professional and business services and in health care. Private-service providing industries added a net 157,000 jobs, led by gains in professional and business services, which

Economy

Employers announced plans to cut 44,324 jobs in September, according to a report issued by Challenger Gray & Christmas. September’s cuts were 38% higher than August’s. Employers have announced 435,612 job cuts through the first nine months of 2016, down 12% from a year ago. “Heavy job cutting in the energy sector defined the first

Economy

New orders for manufactured goods rose 0.2% to $453.1 billion in August, according to the U.S. Census Bureau. The August reading followed a 1.4% increase in July. New orders for manufactured durable goods increased 0.1% to $227.3 billion, after remaining unchanged in July. Orders for transportation equipment drove the increase, rising 0.7% to $78.2 billion.

Economy

The international trade deficit widened in August to $40.7 billion, an increase of $1.2 billion from July according to the U.S. Census Bureau and the Bureau of Economic Analysis. The widening reflected a $2.7 billion increase in imports, which was partially offset by a $1.5 billion increase in exports. The goods deficit decreased less than

Economy

The non-farm private sector added 154,000 jobs in September, according to the ADP National Employment Report, a decrease from August’s revised growth of 175,000. Service providing jobs accounted for most of the month’s growth, while goods-producing employment increased for the first time since March. Small businesses with fewer than 50 employees added 34,000 jobs, down

Economy

Commercial banks reported total trading revenue of $6.9 billion in the second quarter of 2016, up from $5.8 billion in the previous quarter, according to the OCC’s Quarterly Report on Bank Trading and Derivatives Activities released today.

Economy

Construction spending for August was estimated at a seasonally adjusted annual level (SAAL) of $1,142.2 billion according to the U.S. Census Bureau, down 0.7% from a revised July estimate of $1,150.6 billion. During the first eight months of the year, construction spending amounted to $755.0 billion, up 4.9% from the first eight months of 2015.

Economy

The ISM Manufacturing Index registered 51.5 points in September, up 2.1 points from August. September’s reading indicates expansion in the manufacturing sector (readings over 50 points denote expansion). Of the eighteen manufacturing industries, seven reported growth while eleven reported contraction. The Employment Index registered 49.7 points in September, up 1.4 points from August’s reading but

Economy

Consumer Sentiment rose 1.4 points in September to 91.2, according to the University of Michigan Consumer Sentiment Index. The Current Economic Conditions Index fell 2.8 points to 104.2, while the Index of Consumer Expectations rose 4.0 points to 82.7. “Confidence edged upward in September due to gains among higher income households, while the Sentiment index

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