Rebound in July Consumer Confidence
Jul 31, 10:34 AM EDT |
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| The Expectations Index rose to 94.8 from 88.8. |
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| The Conference Board Consumer Confidence Index, which had dipped in June, rebounded in July. The Index now stands at 112.6, up from 105.3 in June. The Present Situation Index increased to 139.2 from 129.9 in June. |
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Construction Spending Declines 0.3% in June
Jul 31, 10:23 AM EDT |
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| Spending on private construction was at a seasonally adjusted annual rate of $890.9 billion, 0.3% below the revised May estimate of $894.0 billion. |
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| The U.S. Census Bureau of the Department of Commerce announced today that construction spending during June 2007 was estimated at a seasonally adjusted annual rate of $1,175.4 billion, 0.3% below the revised May estimate of $1,178.4 billion. The June figure is 2.4% below the June 2006 estimate of $1,204.0 billion. During the first 6 months of this year, construction spending amounted to $550.0 billion, 3.5% below the $570.1 billion for the same period in 2006. |
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Personal Income Gains 0.4%
Jul 31, 9:15 AM EDT |
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| Personal consumption expenditures increased $11.1 billion, or 0.1%. |
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| Personal income increased $51.7 billion, or 0.4%, and disposable personal income (DPI)increased $42.1 billion, or 0.4%, in June, according to the Bureau of Economic Analysis. In May, personal income increased $50.5 billion, or 0.4%, DPI increased $41.1 billion, or 0.4%, and PCE increased $62.5 billion, or 0.6%, based on revised estimates. |
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GDP Increases 3.4% in the Second Quarter
Jul 27, 3:15 PM EDT |
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| Real gross domestic product rose at an annual rate of 3.4% in Q2 2007, according to advance estimates released by the Bureau of Economic Analysis. |
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| The increase in real GDP in the second quarter primarily reflected positive contributions from personal consumption expenditures (PCE) for services, exports, nonresidential structures, federal government spending, and state and local government spending that were partly offset by a negative contribution from residential fixed investment. Imports, which are a subtraction in the calculation of GDP, decreased. |
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New Home Sales Plunge 6.6% in June
Jul 26, 11:22 AM EDT |
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| The median sales price of new houses sold in June 2007 was $237,900; the average sales price was $316,200. |
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| Sales of new one-family houses in June 2007 were at a seasonally adjusted annual rate of 834,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 6.6 percent (±11.0%)* below the revised May rate of 893,000 and is 22.3 percent (±10.1%) below the June 2006 estimate of 1,073,000. |
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Third Week of Decline for Jobless claims
Jul 26, 11:13 AM EDT |
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| The 4-week moving average was 308,500, a decrease of 4,000 from the previous week's revised average of 312,500. |
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| In the week ending July 21, the advance figure for seasonally adjusted initial claims was 301,000, a decrease of 2,000 from the previous week''s revised figure of 303,000. The advance seasonally adjusted insured unemployment rate was 1.9 percent for the week ending July 14, unchanged from the prior week''s unrevised rate of 1.9 percent. |
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Durable Goods Orders Rise 1.4%, but Disappoint
Jul 26, 11:04 AM EDT |
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| Excluding transportation, new orders decreased 0.5%. Excluding defense, new orders increased 1.9%. |
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| New orders for manufactured durable goods in June increased $3 billion or 1.4 percent to $217.1 billion, the U.S. Census Bureau announced today. This was the fourth increase in the last five months and followed a 2.3 percent May decrease. |
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Gasoline Inventories Rise
Jul 25, 11:16 AM EDT |
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| Gasoline production rose from the previous week to 9.3 million barrels per day. Distillate fuel production also rose to 4.1 million barrels per day. |
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| U.S. crude oil refinery inputs averaged over 15.8 million barrels per day during the week ending July 20, up 172,000 barrels per day from the previous week''s average and the highest average since the week ending September 22, 2006. Refineries operated at 91.7 percent of their operable capacity last week. |
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Prices Rise, June Existing-Home Sales Drop 3.8%
Jul 25, 10:25 AM EDT |
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| Sales of existing homes fell in June with some potential buyers staying on the sidelines, but prices rose modestly as inventories eased. |
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| Total existing-home sales – including single-family, town homes, condominiums and co-ops – declined 3.8% to a seasonally adjusted annual rate of 5.75 million units in June from a downwardly revised level of 5.98 million in May, and are 11.4% below the 6.49 million-unit pace in June 2006. |
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FOMC See 'More Balanced' Risks to Growth in June
Jul 19, 3:43 PM EDT |
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| Residential construction remained weak as builders worked further to clear high inventories of unsold homes. |
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| The information reviewed at the June meeting suggested that the expansion of economic activity rebounded in the second quarter from its subpar pace in the first quarter. Upswings in net exports and inventory investment were expected to contribute importantly to the rise in real GDP. Consumer spending appeared to have slowed from its rapid pace earlier in the year, while business fixed investment continued to rise at a modest rate. |
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