Personal Income Increases 1.9% in May
Jun 27, 8:58 AM EDT |
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| Real disposable income increased 5.3% in May, compared with an increase of 0.1% in April. |
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| Personal income increased $225.7 billion, or 1.9%, and disposable personal income increased $600.3 billion, or 5.7%, in May, according to the Bureau of Economic Analysis. Personal consumption expenditures increased $77.4 billion, or 0.8%. In April, personal income increased $33.5 billion, or 0.3%, DPI increased $39.8 billion, or 0.4%, and PCE increased $41.1 billion, or 0.4%, based on revised estimates. |
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Existing Home Sales up 2% in May
Jun 26, 11:12 AM EDT |
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| The national median existing-home price for all housing types was $208,600 in May, down 6.3% from a year ago when the median was $222,700. |
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| Existing-home sales – including single-family, townhomes, condominiums and co-ops – increased 2% to a seasonally adjusted annual rate of 4.99 million units in May from a level of 4.89 million in April, but are 15.9%below the 5.93 million-unit pace in May 2007. |
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Jobless Claims Remain Unchanged
Jun 26, 9:09 AM EDT |
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| The advance unadjusted insured unemployment rate was 2.1% during the week ending June 14, unchanged from the prior week. |
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| In the week ending June 21, the advance figure for seasonally adjusted initial claims was 384,000, unchanged from the previous week''''s revised figure of 384,000. The 4-week moving average was 378,250, an increase of 2,250 from the previous week''''s revised average of 376,000. |
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Gross Domestic Product Rises 1% in Q1 -Final
Jun 26, 8:55 AM EDT |
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| In the fourth quarter, real GDP 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 1% in the first quarter of 2008, according to final estimates released by the Bureau of Economic Analysis. |
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Fed Fund Rates Remain Unchanged
Jun 25, 2:27 PM EDT |
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| The Federal Open Market Committee decided today to keep its target for the federal funds rate at 2%. |
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| Economic activity continues to expand, partly reflecting some firming in household spending. However, labor markets have softened further and financial markets remain under considerable stress. Tight credit conditions, the ongoing housing contraction, and the rise in energy prices are likely to weigh on economic growth over the next few quarters. |
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Distillate Inventories Gain
Jun 25, 10:50 AM EDT |
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| Total motor gasoline inventories decreased by 0.1 million barrels last week, and are in the lower half of the average range. |
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| U.S. commercial crude oil inventories excluding those million barrels from the previous week. At 301.8 million barrels, U.S. crude oil inventories are near the lower boundary of the average range for this time of year. Finished gasoline inventories increased last week while gasoline blending components inventories decreased during this same time. Distillate fuel inventories increased by 2.8 million barrels, and are in the middle of the average range for this time of year. |
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New Home Sales Drop 2.5% in May
Jun 25, 10:21 AM EDT |
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| The median sales price of new houses sold in May 2008 was $231,000; the average sales price was $311,300. |
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| Sales of new one-family houses in May 2008 were at a seasonally adjusted annual rate of 512,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 2.5% below the revised April rate of 525,000 and is 40.3% below the May 2007 estimate of 857,000. |
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Durable Goods Orders
Jun 25, 8:57 AM EDT |
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| Excluding transportation, new orders decreased 0.9%. Excluding defense, new orders decreased 0.6%. |
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| New orders for manufactured durable goods in May increased slightly to $213.6 billion, the U.S. Census Bureau announced today. This was the first increase in three months and followed a 1% April decrease. |
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Jobless Claims Drop by 5,000
Jun 19, 8:48 AM EDT |
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| The advance unadjusted insured unemployment rate was 2.1% during the week ending June 7, unchanged from the prior week. |
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| In the week ending June 14, the advance figure for seasonally adjusted initial claims was 381,000, a decrease of 5,000 from the previous week''''''''s revised figure of 386,000. The 4-week moving average was 375,250, an increase of 3,250 from the previous week''''''''s revised average of 372,000. |
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Crude and Gasoline Inventories Decline
Jun 18, 10:50 AM EDT |
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| Distillate fuel inventories increased by 2.6 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 decreased by 1.2 million barrels from the previous week. At 301.0 million barrels, U.S. crude oil inventories are at the lower boundary of the average range for this time of year. Total motor gasoline inventories decreased by 1.2 million barrels last week, and are in the lower half of the average range. Finished gasoline inventories increased last week while gasoline blending components inventories decreased during this same time. |
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