The Consumer Price Index decreased 0.1 percent in August. The decline was largely due to a sharp decline in the gasoline index. The index rose 0.2 percent over the last 12 months. The energy index declined 2.0 percent in August after posting gains for three consecutive months. Both the fuel oil and gasoline indices declined
There were $447.7 billion of retail and food services sales in August (after adjustment for seasonal variation and holiday and trading-day differences but not for price changes), an increase of 0.2 percent, according to the U.S. Census Bureau. Retail sales increased 2.2 percent from August 2014. Core retail sales – excluding automobiles and parts –
Industrial production decreased 0.4 percent in August, after increasing 0.9 percent in July. Total industrial production is at 107.1 percent of its 2012 level and 0.9 percent above its year-earlier level. Manufacturing output fell 0.5 percent in August primarily due to a large drop in motor vehicle parts. Mining, fell 0.6 percent on the month,
Inflation expectations decreased slightly at both the one year ahead and three year ahead levels, while earnings growth expectations were flat according to the New York Fed’s September Survey of Consumer Expectations (SCE). Median one-year ahead inflation expectations dropped 17 basis points to 2.79 percent in August, the second lowest reading of the year. The
Producer prices were unchanged in August after rising 0.2 percent, seasonally adjusted, in July according to the U.S. Bureau of Labor Statistics. August’s price stagnation in prices was attributable to an increase in prices for final demand services, offset by a decrease in prices for final demand goods. The index for final demand services increased
Consumer credit increased in July at a seasonally adjusted annual rate of 6.7 percent, rising to $3.45 trillion. Revolving credit rose at an annual rate of 5.7 percent to $915 billion, and non-revolving credit increased at an annual rate of 7.0 percent to $2.54 trillion. Total outstanding consumer credit increased by $19.1 billion, down from
The NFIB Small Business Optimism Index reached 95.9 points in August, up 0.5 points from July’s reading. Five of the ten components posted gains on the month, while three fell. Business owners reported increased job growth in August as owners added a net 0.13 workers per firm in recent months, up from 0.05 reported in
The U.S. economy added 173,000 non-farm jobs in August, the Labor Department said today.
Total nonfarm payroll employment rose by 173,000 in August according to the Bureau of Labor Statistics, down from last month’s upwardly revised 245,000. The unemployment rate dropped to 5.1 percent. The Federal Reserve has placed its full employment estimate between 5.0 and 5.2 percent. Education and health services posted strong gains, with healthcare and social
The international trade deficit fell 7.4 percent in July to $41.9 billion, the Commerce Department reported today, down from $45.3 billion in June.