ISM Services Falls to 48.2% in June
Jul 03, 10:35 AM EDT |
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| ISM's Non-Manufacturing New Orders Index contracted in June after three consecutive months of growth. |
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| June''''s NMI at 48.2% indicates contraction in the non-manufacturing sector after two consecutive months of growth. A reading above 50% indicates the non-manufacturing sector economy is generally expanding; below 50% indicates the non-manufacturing sector is generally contracting. |
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Jobless Claims Rise by 16,000
Jul 03, 9:05 AM EDT |
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| The advance unadjusted insured unemployment rate was 2.1% during the week ending June 21, unchanged from the prior week. |
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| In the week ending June 28, the advance figure for seasonally adjusted initial claims was 404,000, an increase of 16,000 from the previous week''''s revised figure of 388,000. The 4-week moving average was 390,500, an increase of 11,250 from the previous week''''s revised average of 379,250. |
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Nonfarm Employment Declines 62,000 in June
Jul 03, 8:55 AM EDT |
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| Employment continued to fall in construction, manufacturing, and employment services, while health care and mining added jobs. |
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| Nonfarm payroll employment continued to trend down in June -62,000, while the unemployment rate held at 5.5%, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Average hourly earnings rose by 6 cents, or 0.3%,over the month. |
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Crude Oil Inventories Decline
Jul 02, 10:48 AM EDT |
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| Distillate fuel inventories increased by 1.3 million barrels, and are in the middle of the average range for this time of year. |
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| U.S. commercial crude oil inventories decreased by 2.0 million barrels from the previous week. At 299.8 million barrels, U.S. crude oil inventories are near the lower boundary of the average range for this time of year. Total motor gasoline inventories increased by 2.1 million barrels last week, and are in the lower half of the average range. Both finished gasoline inventories and gasoline blending components inventories increased last week. |
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Factory Orders Rise 0.6% in May
Jul 02, 10:20 AM EDT |
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| Shipments, up four of the last five months, increased $0.3 billion or 0.1% to $446.4 billion. |
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| New orders for manufactured goods in May, up three consecutive months, increased $2.8 billion or 0.6% to $448.7 billion, the U.S. Census Bureau reported today. This was at the highest level since the series was first stated on a NAICS basis in 1992 and followed a 1.3% April increase. |
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ISM Manufacturing Index Rises to 50.2% in June
Jul 01, 10:50 AM EDT |
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| ISM's New Orders Index registered 49.6% in June, 0.1 percentage point lower than the 49.7 percentage points registered in May. |
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| Manufacturing grew in June as the PMI registered 50.2%, 0.6 percentage point higher than the 49.6% reported in May. A reading above 50% indicates that the manufacturing economy is generally expanding; below 50% indicates that it is generally contracting. |
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Construction Spending Drops 0.4% in May
Jul 01, 10:25 AM EDT |
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| During the first 5 months of this year, construction spending amounted to $416.6 billion, 5.1% below the $438.7 billion for the same period in 2007. |
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| The U.S. Census Bureau of the Department of Commerce announced today that construction spending during May 2008 was estimated at a seasonally adjusted annual rate of $1,085.2 billion, 0.4% below the revised April estimate of $1,089.3 billion.The May figure is 6% below the May 2007 estimate of $1,154.6 billion. |
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