Crude Oil Inventories Decline Jul 23, 11:49 AM ET |
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| Distillate fuel inventories increased by 2.4 million barrels, and are in the upper half of the average range for this time of year. |
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| U.S. commercial crude oil inventories decreased by 1.6 million barrels from the previous week. At 295.3 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 increased by 2.9 million barrels last week, and are just above the upper boundary of the average range. Both finished gasoline inventories and gasoline blending components inventories increased last week. |
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Jobless Claims Rise by 18,000 Jul 17, 12:16 AM ET |
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| The advance seasonally adjusted insured unemployment rate was 2.3% for the week ending July 5, a decrease of 0.1 percentage point from the last week. |
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| In the week ending July 12, the advance figure for seasonally adjusted initial claims was 366,000, an increase of 18,000 from the previous week''''''''s revised figure of 348,000. The 4-week moving average was 376,500, a decrease of 4,500 from the previous week''''''''s revised average of 381,000. |
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Housing Starts Increase 9.1% in June Jul 17, 12:07 AM ET |
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| Building permits in June were at a seasonally adjusted annual rate of 1,091,000. |
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| Privately-owned housing starts in June were at a seasonally adjusted annual rate of 1,066,000. This is 9.1% above the revised May estimate of 977,000, but is 26.9% below the revised June 2007 rate of 1,458,000. Single-family housing starts in June were at a rate of 647,000; this is 5.3% below the May figure of 683,000. The June rate for units in buildings with five units or more was 400,000. |
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FOMC Minutes Jul 16, 2:38 PM EDT |
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| The U.S. international trade deficit widened in April, as a jump in imports outweighed a rise in exports. |
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| The information reviewed at the June meeting indicated that economic activity had remained soft in recent months. Manufacturing activity had deteriorated, business investment in equipment appeared to have moved down, and residential construction had continued its steep descent. Labor market conditions had weakened further, and consumer sentiment was at historical lows, but despite these developments, consumer spending appeared resilient. |
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Crude, Gasoline and Distillate Inventories Gain Jul 16, 10:52 AM EDT |
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| Distillate fuel inventories increased by 3.2 million barrels, and are in the upper half of the average range for this time of year. |
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| U.S. commercial crude oil inventories increased by 3.0 million barrels from the previous week. At 296.9 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 2.4 million barrels last week, and are in the upper half of the average range. Both finished gasoline inventories and gasoline blending components inventories increased last week. |
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Industrial Production Rebounds 0.5% in June Jul 16, 9:55 AM EDT |
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| The production of consumer goods increased 0.7% in June. |
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| Industrial production advanced 0.5% in June after having fallen 0.2% in May. Industrial production for the second quarter as a whole dropped 3.1% from the first quarter. Manufacturing output gained 0.2% in June and was boosted by a jump of 5.4% in the output of motor vehicles and parts; activity resumed at motor vehicle parts and assembly plants that had been idled by a strike that began in late February and ended in late May. |
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Bernanke Cautious Remarks, Inflation Risks Jul 15, 9:26 AM EDT |
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| The decline in the foreign exchange value of the dollar has also contributed somewhat to the increase in oil prices. |
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| Inflation has remained high, running at nearly a 3.5% annual rate over the first five months of this year as measured by the price index for personal consumption expenditures. And, with gasoline and other consumer energy prices rising in recent weeks, inflation seems likely to move temporarily higher in the near term. |
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Consumer Price Index Increases 1.1% in June Jul 16, 9:02 AM EDT |
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| The food index rose 0.8% in June after rising 0.3% in May. |
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| The CPI-U advanced 1.1% in June, following a 0.6% increase in May. The index for energy rose sharply for the second straight month, increasing 6.6% in June following a 4.4% increase in May. |
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Business Inventories Rise 0.3% in May Jul 15, 10:44 AM EDT |
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| The total business inventories/sales ratio based on seasonally adjusted data at the end of May was 1.24. The May 2007 ratio was 1.26. |
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| Manufacturers’ and trade inventories, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $1,479.3 billion, up 0.3% from April 2008 and up 5.2% from May 2007. |
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Retail Sales Increase 0.1% in June Jul 15, 9:19 AM EDT |
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| Total sales for the April through June 2008 period were up 2.6% from the same period a year ago. |
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| The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for June, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $384.2 billion, an increase of 0.1% from the previous month and 3% above June 2007. The April to May 2008 percent change was revised from +1% to +0.8%. |
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