Consumer credit increases in December
Consumer credit increased at a seasonally adjusted annual rate of 2.9% in December and 8.4% in November. Total outstanding credit...
Economy
Powell sees ‘significant road ahead’ on fighting inflation
Federal Reserve Chairman Jerome Powell this week reiterated his belief that further increases in the federal funds rate will be...
New orders for manufactured goods increased in December
New orders for manufactured goods in December, up four of the last five months, increased $10.0 billion or 1.8% to...
517,000 jobs added in January, unemployment rate at 3.4%
Total nonfarm payroll employment rose by 517,000 in January, according to the Bureau of Labor Statistics. Total unemployed persons declined...
ADP:106,000 jobs gained in January
The non-farm private sector gained 106,000 jobs in January, according to the ADP National Employment Report. This follows a revised...
ISM: Service sector expands in January
The ISM Services Index registered 55.2%, 6.0 percentage points higher than December’s seasonally adjusted reading of 49.2%. The composite index...
Consumers turn to credit cards, home equity to maintain financial stability
Consumers are continuing to look to credit to ease the financial pressures of high inflation and rising interest rates, according...
ISM Manufacturing contracts in December
The U.S. manufacturing sector contracted in January, as the Manufacturing PMI® registered 47.4 percent, 1 percentage point below the seasonally...
Construction spending decreases in December
Construction spending during December 2022 was estimated at a seasonally adjusted annual rate of $1,809.8 billion, 0.4% below the revised...
FED Raises rates by 0.25 basis points
The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In...
