Browsing: Economy

Economy

Construction spending for July was estimated at a seasonally adjusted annual rate of $1,153.2 billion, virtually unchanged from the upwardly revised June estimate of $1,153.5 billion. During the first seven months of the year, construction spending amounted to $647.7 billion, up 5.6% from the first seven months of 2015. Total private construction rose to a

Economy

Employers announced plans to cut 32,188 jobs in August, according to a report issued by Challenger Gray & Christmas. August’s cuts were 29% lower than in July. Employers have announced 391,288 job cuts through the first eight months of 2016, down 10% from a year ago. Cuts in the computer sector were heaviest during the

Economy

The persistent and abnormally low interest rate environment has increased risks of a destabilizing shock in the commercial real estate sector — complicating policymakers’ efforts to use low rates to achieve the Federal Reserve’s monetary policy goals, according to Federal Reserve Bank of Boston President Eric Rosengren.

Economy

The non-farm private sector added 177,000 jobs in August, according to the ADP National Employment Report, a decrease from July’s revised growth of 194,000. Service-providing jobs accounted for all of the month’s growth, while goods-producing employment declined for the fifth consecutive month. Small businesses with fewer than 50 employees added 63,000 jobs, down from 68,000

Economy

The Conference Board’s Consumer Confidence Index increased to 101.1 in August, up 4.4 points from July. The Present Situation index rose 4.2 points to 123.0, while the Expectations Index increased 4.4 points to 86.4. “Consumers’ assessment of both current business and labor market conditions was considerably more favorable than last month,” said Lynn Franco, Director

Economy

The 20-City CoreLogic Case-Shiller Composite Index increased 5.1% year-over-year in June, down from 5.3% in May. The 10-City Composite Index increased 4.3% annually, down from 4.4% in the previous month. The National Index, which covers all nine Census divisions increased by 5.1%, unchanged from last month. On a seasonally adjusted monthly basis, both the 10

Economy

Personal income increased 0.4% ($71.6 billion) in July, according to the Bureau of Economic Analysis, up from a 0.3% increase in June. Personal consumption expenditures also increased, rising 0.3% or $42.0 billion. Real disposable income – personal income less personal taxes – increased 0.4% after rising 0.2% in June. The personal savings rate – personal

Economy

Consumer Sentiment slipped 0.2 points in August to 89.8, according to the University of Michigan Consumer Sentiment Index. The Current Economic Conditions Index fell 2 points to 107.0, while the Index of Consumer Expectations rose 1.1 point to 78.7. “Less favorable personal financial prospects were largely offset by a slight improvement in the outlook for

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