Construction Spending Gains 0.2% in March
Apr 30, 10:21 AM EDT |
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| Highway construction was at a seasonally adjusted annual rate of $79.9 billion, 0.9% above the revised February estimate of $79.2 billion. |
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| The U.S. Census Bureau of the Department of Commerce announced today that construction spending during March 2007 was estimated at a seasonally adjusted annual rate of $1,187.8 billion, 0.2% above the revised February estimate of $1,185.0 billion. The March figure is 2.0% below the March 2006 estimate of $1,212.4 billion. During the first 3 months of this year, construction spending amounted to $250.3 billion, 2.4% below the $256.5 billion for the same period in 2006. |
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Personal Income Rises 0.7% in March
Apr 30, 9:40 AM EDT |
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| Supplements to wages and salaries increased $5.2 billion in March, compared with an increase of $4.4 billion in February. |
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| Personal income increased $79.9 billion, or 0.7%, and disposable personal income increased $65.5 billion, or 0.7%, in March, according to the Bureau of Economic Analysis. Personal consumption expenditures increased $24.4 billion, or 0.3%. In February, personal income increased $74.9 billion, or 0.7%, DPI increased $62.3 billion, or 0.6%, and PCE increased $69.2 billion, or 0.7% based on revised estimates. |
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Gross Domestic Product Slows to 1.3% in Q1
Apr 27, 8:52 AM EDT |
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| Real exports of goods and services decreased 1.2% in the first quarter, in contrast to an increase of 10.6% in the fourth. |
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| Real gross domestic product - the output of goods and services produced by labor and property located in the United States - increased at an annual rate of 1.3% in the first quarter of 2007, according to advance estimates released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.5%. |
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Jobless Claims Drop by 20,000
Apr 26, 8:54 AM EDT |
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| The advance number of actual initial claims under state programs, unadjusted, totaled 300,511, a decrease of 17,072 from the last week. |
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| In the week ending April 21, the advance figure for seasonally adjusted initial claims was 321,000, a decrease of 20,000 from the previous week''s revised figure of 341,000. The 4-week moving average was 332,000, an increase of 2,750 from the previous week''s revised average of 329,250. |
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Beige Book Shows Modest Economic Growth
Apr 26, 8:00 AM EDT |
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| Reports on retail sales across the Districts were generally positive, although vehicle sales were mixed in several Districts. |
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| Most Districts reported that manufacturing activity was slow, with many reports of weakening among manufacturers that support the residential construction sector. Economic activity in the services sector continued to increase across most Districts, especially for firms serving business customers. Tourism activity was generally positive. |
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Crude Oil Inventories Increase
Apr 25, 11:03 AM EDT |
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| Total products supplied over the last four-week period has averaged nearly 20.9 million barrels per day, or 2.6% above the same period last year. |
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| U.S. commercial crude oil inventories rose by 2.1 million barrels compared to the previous week. At 334.5 million barrels, U.S. crude oil inventories are in the upper half of the average range for this time of year. Total motor gasoline inventories fell by 2.8 million barrels last week, and are well below the lower end of the average range. |
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New Home Sales Gain 2.6% in March
Apr 25, 10:19 AM EDT |
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| The median sales price of new houses sold in March 2007 was $254,000; the average sales price was $330,900. |
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| Sales of new one-family houses in March 2007 were at a seasonally adjusted annual rate of 858,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 2.6% above the revised February rate of 836,000, but is 23.5% below the March 2006 estimate of 1,121,000. |
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Durable Goods Orders Rise 3.4% in March
Apr 25, 8:55 AM EDT |
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| Inventories of manufactured durable goods in March, up thirteen consecutive months, increased $0.9 billion or 0.3% to $298.8 billion. |
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| New orders for manufactured durable goods in March increased $7.1 billion or 3.4% to $214.9 billion, the U.S. Census Bureau announced today. This was the fourth increase in the last five months and followed a 2.4% February increase. Excluding transportation, new orders increased 1.5%. Excluding defense, new orders increased 4.5%. |
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Existing Home Sales Drop 8.4% in March
Apr 24, 10:46 AM EDT |
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| Single-family home sales dropped 9.5% to a seasonally adjusted annual rate of 5.32 million in March. |
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| After rising for three consecutive months, total existing-home sales – including single-family, townhomes,condominiums and co-ops – fell 8.4% to a seasonally adjusted annual rate1 of 6.12 million units in March from a pace of 6.68 million in February, and are 11.3% below the 6.90 million-unit level in March 2006. |
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Consumer Confidence Declines in April
Apr 24, 10:20 AM EDT |
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| Consumers expecting business conditions to improve decreased to 13.5% from 14.5%. |
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| The Conference Board Consumer Confidence Index, which had decreased in March, retreated further in April. The Index now stands at 104.0, down from 108.2 in March. The Present Situation Index decreased to 131.3 from 138.5 in March. The Expectations Index declined to 85.8 from 87.9. |
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