Industrial production increased 0.3 percent in December after rising 0.4 percent in November, according to the Federal Reserve. Capacity utilization was 78.7 percent in December a rate that is 1.1 points below its long-run average (1927-2017). Manufacturing output increased 1.1 percent, its largest gain since February 2018. Production of durable goods increased 2.7 percent, while non durable goods production decreased ...

Consumer credit increased at a seasonally adjusted annual rate of 6.7 percent in November, down from a downwardly revised 7.6 percent rate in October. Total outstanding credit increased $22.2 billion during the month (compared with $25.4 billion in October) to $3.979 trillion. Revolving credit, largely a reflection of credit card debt, increased at an annual rate of 5.5 percent to ...

Total nonfarm payroll employment grew by 312,000 in December, an increase from last month’s upwardly revised reading of 176,000, according to the Bureau of Labor Statistics. The national unemployment rate rose from 3.7 percent to 3.9 percent. Private service-providing industries gained 227,000 jobs, led by education and health services, which added 82,000 jobs. Goods-producing employment rose by 74,000 jobs during ...

New orders for manufactured durable goods increased 0.8 percent in November to $250.8 billion, following two consecutive monthly decreases including a 4.3 percent decrease in October, according to the U.S. Census Bureau. Transportation equipment drove the increase, rising 2.9 percent to $87.0 billion over the month. New orders, excluding the transportation sector, decreased 0.3 percent. Excluding defense, new orders decreased ...

Real GDP grew at a seasonally adjusted annual rate of 3.4 percent during the third quarter of 2018, according to the Bureau of Economic Analysis’s third estimate, revised down from the “second” estimate. Personal Consumption and Expenditures (PCE) and exports were revised down, and private inventory investment was revised up. The general picture of economic growth remained the same. Real ...

The Financial Services Information Sharing and Analysis Center today named Steven Silberstein as its new president and CEO. FS-ISAC is a nonprofit member-driven organization focused on the resilience and continuity of the global financial services sector. Silberstein joins FS-ISAC from BlueVoyant, a global intelligence firm where he was COO. Prior to that, he served as CEO of Sheltered Harbor, an ...

Consumer credit increased at a seasonally adjusted annual rate of 3.1 percent in June, down from a 7.5 percent rate in May. Total outstanding credit increased $10.2 billion during the month (compared with $24.3 billion in May) to $3.91 trillion. Revolving credit, largely a reflection of credit card debt, decreased at an annual rate of 0.2 percent to $1.04 trillion, ...

With more people conducting financial transactions online, and fewer branch offices peppering the landscape, banks have an even greater opportunity to work harder and smarter to create new branch experiences. Banks are increasingly under pressure to do more with less.  The right mix of staff, services and technology is essential to remaining relevant in today’s connected economy. That means branches ...

Customers will continue to accelerate their demands for anytime/anywhere banking. They will look to banks as expert advisers who can help them overcome stress and manage financial goals.

Having devoted his entire adult life to accumulating one of the great fortunes of the age—while spending as little as possible in the process—George Peabody spent his last decade giving it away.