Construction Spending Gains 0.1% in April
May 31, 10:18 AM EDT |
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| During the first 4 months of this year, construction spending amounted to $345.1 billion, 2.5% below the $353.8 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 April 2007 was estimated at a seasonally adjusted annual rate of $1,190.0 billion, 0.1% above the revised March estimate of $1,188.9 billion. The April figure is 2.0% below the April 2006 estimate of $1,214.4 billion. |
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Jobless Claims Drop by 4,000
May 31, 9:08 AM EDT |
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| The advance seasonally adjusted insured unemployment rate was 1.9% for the week ending May 19, unchanged from the last week unrevised rate of 1.9%. |
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| In the week ending May 26, the advance figure for seasonally adjusted initial claims was 310,000, a decrease of 4,000 from the previous week''''s revised figure of 314,000. The 4-week moving average was 304,500, an increase of 1,000 from the previous week''''s revised average of 303,500. |
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GDP Rises 0.6% in Q1
May 31, 9:06 AM EDT |
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| Real exports of goods and services decreased 0.6% in the first quarter, in contrast to 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 0.6% in the first quarter of 2007, according to preliminary estimates released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.5%. |
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Minutes of FOMC Meeting
May 30, 3:29 PM EDT |
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| Fed remains concerned with core rate of inflation however economic activities appear to be robust than anticipated on firmness in manufacturing. |
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| The information reviewed at the May meeting suggested that economic activity had expanded at a below-trend pace in recent months. Gains in payroll employment had moderated, and the unemployment rate appeared to have stabilized after a period of decline. Housing construction remained under pressure from weak demand and large inventories of unsold homes, and consumer spending appeared to have slowed in recent months. Business fixed investment remained subdued. |
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Consumer Confidence Index Jumps in May
May 29, 10:22 AM EDT |
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| The Present Situation Index increased to 136.1 from 133.5 in April. |
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| The Conference Board Consumer Confidence Index, which had decreased in April, bounced back in May. The Index now stands at 108.0, up from 106.3 in April. The Expectations Index edged up to 89.2 from 88.2. |
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Existing Home Sales Decrease 2.6% in April
May 28, 7:32 AM EDT |
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| Existing-home sales in the West declined 1.7% in April to an annual pace of 1.19 million, and are 15.6% below a year ago. |
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| Total existing-home sales including single-family, townhomes, condominiums and co-ops fell 2.6% to a seasonally adjusted annual rate1 of 5.99 million units in April from an upwardly revised level of 6.15 million in March, and are 10.7% lower than the 6.71 million-unit pace in April 2006. |
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New Home Sales Increase 16.2% in April
May 24, 10:18 AM EDT |
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| The median sales price of new houses sold in April 2007 was $229,100; the average sales price was $299,100. |
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| Sales of new one-family houses in April 2007 were at a seasonally adjusted annual rate of 981,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 16.2% above the revised March rate of 844,000, but is 10.6% below the April 2006 estimate of 1,097,000. |
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Jobless Claims Rise 15,000
May 24, 9:16 AM EDT |
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| The advance seasonally adjusted insured unemployment rate was 1.9% for the week ending May 12, unchanged from the last week unrevised rate of 1.9%. |
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| In the week ending May 19, the advance figure for seasonally adjusted initial claims was 311,000, an increase of 15,000 from the previous week''''s revised figure of 296,000. The 4-week moving average was 302,750, a decrease of 3,500 from the previous week''''s revised average of 306,250. |
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Durable Goods Orders Advance 0.6% in April
May 24, 9:02 AM EDT |
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| Inventories of manufactured durable goods in April, up fourteen consecutive months, increased $1.5 billion or 0.5% to $313.0 billion. |
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| New orders for manufactured durable goods in April increased $1.3 billion or 0.6% to $217.9 billion, the U.S. Census Bureau announced today. This was the fifth increase in the last six months and followed a 5.0% March increase. Excluding transportation, new orders increased 1.5%. Excluding defense, new orders increased 0.6%. |
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Crude,Gasoline and Distillate Inventories Rise
May 23, 10:59 AM EDT |
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| Distillate fuel inventories increased by 0.5 million barrels per day, and are just below the upper end of the average range for this time of year. |
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| U.S. commercial crude oil inventories rose by 2.0 million barrels compared to the previous week. At 344.2 million barrels, U.S. crude oil inventories are just above the upper end of the average range for this time of year. Total motor gasoline inventories climbed by 1.5 million barrels last week, but remain well below the lower end of the average range. |
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