Consumer Credit Grows 7.4 Percent in March
Consumer credit increased at a seasonally adjusted annual rate of 7.4 percent in March to $3.36 trillion.
Browsing: Economy
Deficit Widens as Imports Increase More Than Exports
The U.S. international trade deficit increased in March, rising to $51.4 billion, up from $35.9 billion in February.
Non-Manufacturing ISM Index Rises in April
The Non-Manufacturing ISM Report on Business Index was 57.8 in April, up 1.3 points from 56.5 in March.
New Factory Orders Increase for First Time in Seven Months
New orders for manufactured goods increased 2.1 percent to $476.5 billion in March following a revised 0.1 percent decline in February according to the U.S. Census Bureau.
Consumer Sentiment Rebounded in April
Consumer sentiment rose in April, according to the University of Michigan survey, rising 2.9 points above March’s reading.
ISM Manufacturing Index Growth Remains Slow
The ISM manufacturing index was unchanged at 51.5 points in April. Index readings above 50 indicate expansion in the manufacturing economy.
Construction Spending Fell in March
Construction spending declined 0.6 percent in March to a seasonally adjusted annual rate (SAAR) of $966.6 billion.
Personal Income Growth Slowed in March
Personal income increased $6.2 billion, or less than 0.1 percent in March, according to the Bureau of Economic Analysis—a sharp decline from February’s estimate.
Keating Discusses Interest Rates on Reuters TV
With the Federal Open Market Committee meeting yesterday, ABA President and CEO Frank Keating appeared on Reuters TV to discuss interest rates.
Fed: Growth Slowed Due to ‘Transitory Factors’
The Federal Reserve Open Market Committee in its April 29 statement noted that economic growth slowed during the winter months, partly due to “transitory factors,” and that labor market conditions were largely unchanged since the last meeting.