Construction Spending Increases 0.3% in February
Mar 30, 10:29 AM EDT |
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| During the first 2 months of this year, construction spending amounted to $159.9 billion, 2.4% below the $163.8 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 February 2007 was estimated at a seasonally adjusted annual rate of $1,170.8 billion, 0.3% above the revised January estimate of $1,167.7 billion. The February figure is 2.4% below the February 2006 estimate of $1,199.9 billion. |
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Personal Income Rises 0.6% in February
Mar 30, 9:03 AM EDT |
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| Personal consumption expenditures increased $55.5 billion, or 0.6%. |
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| Personal income increased $65.4 billion, or 0.6%, and disposable personal income increased $53.8 billion, or 0.5%, in February, according to the Bureau of Economic Analysis. In January, personal income increased $110.5 billion, or 1.0%, DPI increased $74.2 billion, or 0.8%, and PCE increased $50.2 billion, or 0.5%, based on revised estimates. |
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GDP Advances 2.5% in Q4
Mar 29, 9:20 AM EDT |
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| In the third quarter, real GDP increased 2.0%. |
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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 fourth quarter of 2006, according to final estimates released by the Bureau of Economic Analysis. |
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Jobless Claims Drop by 10,000
Mar 29, 8:50 AM EDT |
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| The advance seasonally adjusted insured unemployment rate was 1.9% for the week ending March 17, unchanged from the last week unrevised rate of 1.9%. |
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| In the week ending March 24, the advance figure for seasonally adjusted initial claims was 308,000, a decrease of 10,000 from the previous week''''s revised figure of 318,000. The 4-week moving average was 316,750, a decrease of 7,250 from the previous week''''s revised average of 324,000. |
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Fed Testimony Doesn't Comfort Investors
Mar 28, 12:55 PM EDT |
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| Outside the United States, economic activity in our major trading partners has continued to grow briskly. |
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| Economic growth in the United States has slowed in recent quarters, reflecting in part the economy’s transition from the rapid rate of expansion experienced over the preceding years to a more sustainable pace of growth. Real gross domestic product rose at an annual rate of roughly 2% in the second half of 2006 and appears to be expanding at a similar rate early this year. |
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Crude and Gasoline Inventories Decline
Mar 28, 11:08 AM EDT |
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| Total products supplied over the last four-week period has averaged 21.1 million barrels per day, or 2.4% above the same period last year. |
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| U.S. commercial crude oil inventories fell by 0.9 million barrels compared to the previous week. At 328.4 million barrels, U.S. crude oil inventories are above the upper end of the average range for this time of year. Total motor gasoline inventories declined by 0.3 million barrels last week, and are in the upper half of the average range. |
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Durable Goods Orders Rise 2.5% in February
Mar 28, 9:02 AM EDT |
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| New orders for manufactured durable goods in February increased $5.0 billion or 2.5% to $206.9 billion, the U.S. Census Bureau announced today. |
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| This was the third increase in the last four months and followed a 9.3% January decrease. Excluding transportation, new orders decreased 0.1%. Excluding defense, new orders increased 2.5%. Shipments of manufactured durable goods in February, down two consecutive months, decreased $1.7 billion or 0.8% to $207.3 billion. This followed a 1.5% January decrease. |
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Consumer Confidence Index Decreases in March
Mar 27, 11:00 AM EDT |
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| The Present Situation Index increased slightly to 137.6 from 137.1 in February. |
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| The Conference Board Consumer Confidence Index, which had increased in February, retreated in March. The Index now stands at 107.2, down from 111.2 in February. The Expectations Index declined to 86.9 from 93.8. |
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New Home Sales Decrease 3.9% in February
Mar 26, 10:27 AM EDT |
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| The median sales price of new houses sold in February 2007 was $250,000; the average sales price was $331,000. |
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| Sales of new one-family houses in February 2007 were at a seasonally adjusted annual rate of 848,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 3.9% below the revised January rate of 882,000 and is 18.3% below the February 2006 estimate of 1,038,000. |
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Existing Home Sales Increase 3.9% in February
Mar 23, 10:31 AM EDT |
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| Existing home sales increase in February was the largest since a similar jump in March 2004. |
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| Total existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 3.9% to a seasonally adjusted annual rate1 of 6.69 million units in February from a downwardly revised level of 6.44 million in January, but are 3.6% below the 6.94 million-unit pace in February 2006. |
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