Outstanding household debt rose a very slight $2 billion in the second quarter — reaching $11.85 trillion — the Federal Reserve Bank of New York said today.
There were $446.5 billion of retail and food services sales in July (after adjustment for seasonal variation and holiday and trading-day differences but not for price changes), according to the U.S. Census Bureau. This level represented an increase of 0.6 percent from the previous month, and a 2.4 percent increase from July of last year.
The NFIB Small Business Optimism Index increased 1.3 points in July to 95.4, after falling 4 points in June. Seven of the ten components posted gains over the last month. The number of owners planning to increase employment rose 3 points from June. Fifty-seven percent of owners reported hiring or trying to hire, while 48
Consumer credit increased to a seasonally adjusted annual rate (SAAR) of 7.3 percent in June to $3.42 trillion. Revolving credit rose at an annual rate of 7.4 to $906 billion, and non-revolving credit increased at an annual rate of 7.3 percent to $2.51 trillion. Total outstanding consumer credit increased by $20.7 billion, up from the
Total nonfarm payroll employment rose by 215,000 in July, down from last month’s upwardly revised 231,000. The unemployment rate remains unchanged at 5.3 percent. The Federal Reserve has placed its full employment estimate between 5.0 and 5.2 percent. Retail trade, healthcare, professional and technical services, and financial activities led the gains in employment. Retail trade
Employers announced plans to shed 105,696 workers from their payrolls in July, according to a report issued by Challenger, Gray & Christmas. July’s announced cuts marked the highest monthly total since 2011. July’s job cuts were 125 percent higher than the planned layoffs announced in July 2014. In the first 7 months of 2015, employers
The Non-Manufacturing ISM Report on Business Index rose 4.3 points to 60.3 in July, the highest reading of the index since its inception in 2008 (index readings above 50 indicate expansion). Fifteen industries reported growth in July, while two – Professional, Scientific & Technical Services; and Mining – reported contraction. The Business Activity Index registered
The U.S. international trade deficit widened in June to $48.3 billion, up $2.9 billion from May. The increase reflected a $0.1 billion decrease in exports and a $2.8 billion increase in imports. The goods deficit grew $2.9 billion to $63.5 billion, while the services surplus remained essentially unchanged at $19.7 billion. Exports of goods decreased
According to the ADP National Employment report, the non-farm private sector added 185,000 jobs in July, down from 229,000 in June. Both the goods-producing and service-providing sectors saw slower job growth. Small businesses, with less than 50 employees, added 59,000 jobs, down from 118,000 in June. Medium-sized businesses, with 50 to 499 employees, added 62,000
New orders for manufactured goods increased 1.8 percent to $478.5 billion, following a 1.1 percent decrease in May. June’s increase followed two consecutive monthly decreases. New orders for transportation equipment, also following two monthly decreases, grew 9.3 percent to $78.5 billion, as orders for defense and non-defense aircraft and parts increased 31.4 and 65.4 percent.