Construction Spending Advances 0.9% in May
Jun 29, 10:18 AM EDT |
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| During the first 5 months of this year, construction spending amounted to $442.1 billion, 3.9% below the $460.1 billion for the same period in 2006. |
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| The U.S. Census Bureau of the Department of Commerce announced today that construction spending during May 2007 was estimated at a seasonally adjusted annual rate of $1,176.6 billion, 0.9% above the revised April estimate of $1,166.0 billion. The May figure is 2.8% below the May 2006 estimate of $1,210.0 billion. |
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Personal Income Rises 0.4% in May
Jun 29, 8:48 AM EDT |
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| The price index for PCE increased 0.5% in May, compared with an increase of 0.3% in April. |
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| Personal income increased $47.3 billion, or 0.4%, and disposable personal income increased $37.6 billion, or 0.4%, in May, according to the Bureau of Economic Analysis. Personal consumption expenditures increased $52.0 billion, or 0.5%. In April, personal income decreased $27.2 billion, or 0.2%, DPI decreased $29.7 billion, or 0.3%, and PCE increased $50.7 billion, or 0.5%, based on revised estimates. |
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Fed Fund Rates Remain Unchanged
Jun 28, 3:06 PM EDT |
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| The Federal Open Market Committee decided today to keep its target for the federal funds rate at 5.25%. |
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| Economic growth appears to have been moderate during the first half of this year, despite the ongoing adjustment in the housing sector. The economy seems likely to continue to expand at a moderate pace over coming quarters. |
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Jobless Claims Fall 13,000
Jun 28, 9:06 AM EDT |
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| The advance seasonally adjusted insured unemployment rate was 1.9% for the week ending June 16, unchanged from the last week unrevised rate of 1.9%. |
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| In the week ending June 23, the advance figure for seasonally adjusted initial claims was 313,000, a decrease of 13,000 from the previous week''''s revised figure of 326,000. The 4-week moving average was 316,000, an increase of 1,000 from the previous week''''s revised average of 315,000. |
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Gross Domestic Product Rises 0.7% in Q1 -Final
Jun 28, 8:54 AM EDT |
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| Real exports of goods and services increased 0.7% in the first quarter, compared with 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 0.7% in the first quarter of 2007, according to final estimates released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.5%. |
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Crude Oil Inventories Gain
Jun 27, 11:08 AM EDT |
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| Distillate fuel inventories fell by 2.3 million barrels per day, and are in the middle of the average range for this time of year. |
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| U.S. commercial crude oil inventories rose 1.6 million barrels compared to the previous week. At 350.9 million barrels, U.S. crude oil inventories are well above the upper end of the average range for this time of year. Total motor gasoline inventories dropped by 0.7 million barrels last week, and remain well below the lower end of the average range. A decline in gasoline blending components more than compensated for an increase in finished gasoline inventories. |
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Durable Goods Orders Fall 2.8% in May
Jun 27, 8:48 AM EDT |
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| Inventories of manufactured durable goods in May, up fifteen consecutive months, increased $0.7 billion or 0.2 percent to $313.2 billion. |
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| New orders for manufactured durable goods in May decreased $6.1 billion or 2.8% to $213.0 billion, the U.S. Census Bureau announced today. This followed three consecutive monthly increases including a 1.1% April increase. Excluding transportation, new orders decreased 1.0%. Excluding defense, new orders decreased 3.2%. |
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Consumer Confidence Index Retreats
Jun 26, 10:25 AM EDT |
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| The Present Situation Index decreased to 127.9 from 136.1 in May. |
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| The Conference Board Consumer Confidence Index, which had bounced back in May, reversed course in June. The Index now stands at 103.9 (1985=100), down from 108.5 in May. The Expectations Index edged down to 87.9 from 90.1. |
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New Home Sales Drop by 1.6% in May
Jun 26, 10:16 AM EDT |
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| The median sales price of new houses sold in May 2007 was $236,100; the average sales price was $313,000. |
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| Sales of new one-family houses in May 2007 were at a seasonally adjusted annual rate of 915,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 1.6% below the revised April rate of 930,000 and is 15.8% below the May 2006 estimate of 1,087,000. |
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Existing Home Sales Fall 0.3% in May
Jun 25, 10:27 AM EDT |
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| The national median existing-home price for all housing types was $223,700 in May, which is 2.1% below May 2006 when the median was $228,500. |
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| Total existing-home sales – including single-family, townhomes, condominiums and co-ops – eased by 0.3% to a seasonally adjusted annual rate1 of 5.99 million units in May from an upwardly revised pace of 6.01 million in April, and are 10.3% below the 6.68 million-unit level in May 2006. |
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