GDP Rises 2.5% in June
Jul 28, 9:18 AM EDT |
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| GDP price deflator rose 2.5%, compared with expectations of 3.5% increase. In the first quarter, real GDP increased 5.6%. |
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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 2.5% in the second quarter of 2006, according to advance estimates released by the Bureau of Economic Analysis. |
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New Home Sales Fall in June
Jul 27, 10:19 AM EDT |
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| The seasonally adjusted estimate of new houses for sale at the end of June was 566,000. |
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| Sales of new one-family houses in June 2006 were at a seasonally adjusted annual rate of 1,131,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 3.0% below the revised May rate of 1,166,000 and is 11.1% below the June 2005 estimate of 1,272,000. |
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Durable Goods Orders Rise 3.1%
Jul 27, 9:49 AM EDT |
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| New orders for manufactured durable goods in June increased $6.5 billion or 3.1% to $216.3 billion, the U.S. Census Bureau announced today. |
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| This is the fourth increase in the last five months and follows a 0.3% May increase.Shipments of manufactured durable goods in June, up four of the last five months, increased $0.2 billion or 0.1% to $212.8 billion. |
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Jobless Claims Drop
Jul 27, 9:46 AM EDT |
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| The 4-week moving average was 312,750, a decrease of 4,250 from the previous week's revised average of 317,000. |
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| In the week ending July 22, the advance figure for seasonally adjusted initial claims was 298,000, a decrease of 7,000 from the previous week''''s revised figure of 305,000. The advance seasonally adjusted insured unemployment rate was 1.9% for the week ending July 15, unchanged from the prior week''''s unrevised rate of 1.9%. |
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Beige Book Points to Slower Economic Growth
Jul 26, 2:38 PM EDT |
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| Six Federal districts, including San Francisco, reported a decline in the overall rate of economic growth. |
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| Reports from all twelve Federal Reserve Districts generally indicated continued economic growth during June through mid-July, with numerous individual reports pointing to evidence that the pace of growth has slowed. The Philadelphia, Cleveland, Richmond, Chicago, Dallas, and San Francisco reports each highlighted a decline in the overall rate of economic growth in their Districts. |
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Crude Oil Inventories Decline
Jul 26, 10:47 AM EDT |
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| U.S. crude oil imports averaged 10.5 million barrels per day last week, down 194,000 barrels per day from the previous week. |
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| U.S. crude oil refinery inputs averaged 15.8 million barrels per day during the week ending July 21, down 89,000 barrels per day from the previous week''''s average. Refineries operated at 92.5% of their operable capacity last week. Gasoline production decreased last week compared to the previous week, averaging 9.1 million barrels per day, while distillate fuel production dropped sharply, averaging over 3.8 million barrels per day. |
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Existing Home Sales Flatten
Jul 25, 10:44 AM EDT |
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| The national median existing-home price for all housing types was $231,000 in June, up 0.9% from June 2005 when the median was $229,000. |
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| Existing-home sales were down modestly in June, and home prices were up slightly from a year ago, according to the National Association of Realtors. Total existing-home sales – including single-family, townhomes, condominiums and co-ops – declined 1.3% to a seasonally adjusted annual rate1 of 6.62 million units in June from an upwardly revised level of 6.71 million May. Last month’s sales were 8.9% below the 7.27 million-unit pace in June 2005. |
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Consumer Confidence Index Rises Moderately
Jul 25, 10:30 AM EDT |
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| The Present Situation Index rose to 133.0 from 132.2. The Expectations Index edged up to 88.8 from 87.5 last month. |
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| The Conference Board Consumer Confidence Index, which had increased moderately in June, posted another slight increase in July. The Index now stands at 106.5 (1985=100), up from 105.4 in June. The Consumer Confidence Survey is based on a representative sample of 5,000 U.S. households. The monthly survey is conducted for The Conference Board by TNS. TNS is the world''''''''s largest custom research company. The cutoff date for July''''''''s preliminary results was July 18th. |
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FOMC Minutes Show Uncertainty over Inflation
Jul 20, 2:57 PM EDT |
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| The information reviewed at the June meeting suggested that the growth of economic activity in Q2 slowed substantially from its rapid Q1 pace. |
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| The Manager of the System Open Market Account reported on recent developments in foreign exchange markets. There were no open market operations in foreign currencies for the System''''s account in the period since the previous meeting. The Manager reported on developments in domestic financial markets and on System open market transactions in government securities and federal agency obligations since the previous meeting. By unanimous vote, the Committee ratified these transactions. |
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Leading Indicators Rise in June
Jul 20, 10:25 AM EDT |
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| The Conference Board announced today that the U.S. leading index increased 0.1%, the coincident index increased 0.2% . |
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| Six of the ten indicators that make up the leading index increased in June. The positive contributors - beginning with the largest positive contributor - were average weekly initial claims for unemployment insurance (inverted), index of consumer expectations, real money supply, average weekly manufacturing hours, interest rate spread, and manufacturers'''' new orders for nondefense capital goods. |
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