Fed Lowers Rate by 0.25%
Apr 30, 4:55 PM EDT |
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| Household and business spending has been subdued and labor markets have softened further. |
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| The Federal Open Market Committee decided today to lower its target for the federal funds rate 25 basis points to 2% and signaled that future rate cuts may not be necessary. Two members of the 10 people who voted for the decision dissented. The Fed also indicated that seven month cycle of rate cut may be enough to bring moderate economic growth. |
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Crude Oil and Distillate Inventories Advance
Apr 30, 10:49 AM EDT |
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| Distillate fuel inventories increased by 1.1 million barrels, and are in the lower half of the average range for this time of year. |
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| U.S. commercial crude oil inventories increased by 3.8 million barrels from the previous week. At 319.9 million barrels, U.S. crude oil inventories are in the lower half of the average range for this time of year. Total motor gasoline inventories decreased by 1.5 million barrels last week, and are in the upper half of the average range. Finished gasoline inventories rose last week while gasoline blending components inventories declined during this same time. |
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Gross Domestic Product Rises 0.6% in Q1
Apr 30, 9:02 AM EDT |
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| In the fourth quarter, real GDP also increased 0.6%. |
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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 0.6% in the first quarter of 2008, according to advance estimates released by the Bureau of Economic Analysis. |
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New Home Sales Decrease 8.5% in March
Apr 24, 10:17 AM EDT |
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| The median sales price of new houses sold in March 2008 was $227,600; the average sales price was $292,200. |
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| Sales of new one-family houses in March 2008 were at a seasonally adjusted annual rate of 526,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 8.5% below the revised February rate of 575,000 and is 36.6% below the March 2007 estimate of 830,000. |
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Jobless Claims Tumble by 33,000
Apr 24, 8:55 AM EDT |
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| The advance seasonally adjusted insured unemployment rate was 2.2% for the week ending April 12, unchanged from the last week unrevised rate of 2.2%. |
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| In the week ending April 19, the advance figure for seasonally adjusted initial claims was 342,000, a decrease of 33,000 from the previous week''''s revised figure of 375,000. The 4-week moving average was 369,500, a decrease of 7,250 from the previous week''''s revised average of 376,750. |
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Durable Goods Orders Drop 0.3% in March
Apr 24, 8:48 AM EDT |
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| Inventories of manufactured durable goods in March, up eight of the last nine months, increased $3.5 billion or 1.1% to $327.1 billion. |
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| New orders for manufactured durable goods in March decreased $0.7 billion or 0.3% to $212.2 billion, the U.S. Census Bureau announced today. This was the third consecutive monthly decrease and followed a 0.9% February decrease. Excluding transportation, new orders increased 1.5%. Excluding defense, new orders increased 0.3%. |
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Gasoline and Distillate Inventories Decline
Apr 23, 10:46 AM EDT |
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| Distillate fuel inventories decreased by 1.4 million barrels, and are in the lower half of the average range for this time of year. |
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| U.S. commercial crude oil inventories increased by 2.4 million barrels from the previous week. At 316.1 million barrels, U.S. crude oil inventories are in the lower half of the average range for this time of year. Total motor gasoline inventories decreased by 3.2 million barrels last week, and are at the upper limit of the average range. Both finished gasoline inventories and gasoline blending components inventories decreased last week. |
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Existing Home Sales Decrease 2% in March
Apr 22, 10:18 AM EDT |
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| The national median existing-home price for all housing types was $200,700 in March, down 7.7% from a year ago when the median was $217,400. |
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| Existing-home sales – including single-family, townhomes, condominiums and co-ops – were down 2% to a seasonally adjusted annual rate of 4.93 million units in March from a level of 5.03 million in February, and remain 19.3% below the 6.11 million-unit pace in March 2007. |
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Jobless Claims Rise by 17,000
Apr 17, 8:50 AM EDT |
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| The advance seasonally adjusted insured unemployment rate was 2.2% for the week ending April 5, unchanged from the last week unrevised rate of 2.2%. |
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| In the week ending April 12, the advance figure for seasonally adjusted initial claims was 372,000, an increase of 17,000 from the previous week''''s revised figure of 355,000. The 4-week moving average was 376,000, a decrease of 750 from the previous week''''s revised average of 376,750. |
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Fed Beige Book: Weaker Economy, Higher Prices
Apr 16, 2:34 PM EDT |
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| Districts reporting on energy continued to see robust levels of activity and steady to increasing prices. |
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| Manufacturing activity was varied, with some Districts reporting a slight increase in activity, some indicating weaker activity, and several noting that activity was mixed or had held steady. Chicago, Boston, and Richmond reported that activity was rising, but not substantially, while New York, Kansas City, Philadelphia and Dallas all reported that activity had weakened. |
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