Browsing: Newsbytes

Newsbytes

With the House now in recess and the Senate leaving Washington, D.C., this week, lawmakers will spend August in their home states to meet with constituents. Bankers are encouraged to set up appointments now if they have not done so already.

Economy

The ISM Manufacturing Index fell to 52.7 points in July – down 0.8 points from June’s reading.  The manufacturing sector is still growing as readings above 50 indicate expansion.  Of the 18 component industries, 11 reported growth in July, unchanged from the previous month. Respondents noted that business conditions have changed little from last month,

Economy

Construction spending increased 0.1 percent in June to a seasonally adjusted annual rate (SAAR) of $1,064.6 billion. May spending was revised up from $1,035.8 to $1,063.5 billion. Construction spending during the first six months of 2015 amounted to $482.7 billion, 8 percent higher than the first six months of 2014. Total private construction fell to

Economy

Personal income increased $68.1 billion, or 0.4 percent, in June according to the Bureau of Economic Analysis, the same pace as the previous month. Personal consumption expenditures (PCE) increased $25.9 billion, or 0.2 percent, after increasing at a 0.7 percent rate in May. Disposable personal income – personal income less personal current taxes – increased

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