Personal Income and Spending Rise in October
Nov 30, 9:12 AM EST |
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| Supplements to wages and salaries increased $7.5 billion in October, compared with an increase of $6.8 billion in September. |
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| Personal income increased $49.3 billion, or 0.4%, and disposable personal income increased $33.1 billion, or 0.3%, in October, according to the Bureau of Economic Analysis. Personal consumption expenditures increased $16.9 billion, or 0.2%. In September, personal income increased $54.3 billion, or 0.5%, DPI increased $49.4 billion, or 0.5%, and PCE decreased $14.2 billion, or 0.2%, based on revised estimates. |
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Jobless Claims Advance by 34,000
Nov 30, 8:53 AM EST |
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| The advance seasonally adjusted insured unemployment rate was 1.9% for the week ending Nov. 18, unchanged from the last week unrevised rate of 1.9%. |
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| In the week ending Nov. 25, the advance figure for seasonally adjusted initial claims was 357,000, an increase of 34,000 from the previous week''''s revised figure of 323,000. The 4-week moving average was 325,000, an increase of 7,250 from the previous week''''s revised average of 317,750. |
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Beige Book Reports Moderate Economic Growth
Nov 30, 7:53 AM EST |
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| Most Districts reported that prices moderated for construction materials and energy products. |
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| Most Federal Reserve Districts reported continued moderate growth since the last report. However, New York and Richmond observed that growth accelerated, whereas Dallas said the pace of activity continued to decelerate from high levels, and Atlanta described activity as mixed. |
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Crude Oil Inventories Decline
Nov 29, 11:10 AM EST |
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| U.S. crude oil imports averaged nearly 9.8 million barrels per day last week, down 732,000 barrels per day from the previous week. |
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| U.S. commercial crude oil inventories declined by 0.3 million barrels compared to the previous week. At 340.8 million barrels, U.S. crude oil inventories remain well above the upper end of the average range for this time of year. Total motor gasoline inventories dropped by 0.6 million barrels last week, and are at the lower end of the average range. |
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New Home Sales Slump 3.2% in October
Nov 29, 10:20 AM EST |
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| The median sales price of new houses sold in October 2006 was $248,500; the average sales price was $309,700. |
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| Sales of new one-family houses in October 2006 were at a seasonally adjusted annual rate of 1,004,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 3.2% below the revised September rate of 1,037,000, and is 25.4% below the October 2005 estimate of 1,346,000. |
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Third-Quarter GDP Grows 2.2%
Nov 29, 9:12 AM EST |
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| Domestic profits of financial corporations decreased $2.2 billion in the third quarter, in contrast to an increase of $41.7 billion in the second. |
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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 2.2% in the third quarter of 2006, according to preliminary estimates released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 2.6%. |
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Existing Home Sales Rise 0.5% in October
Nov 28, 10:44 AM EST |
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| Single-family home sales rose 1.3% to a seasonally adjusted annual rate of 5.50 million in October from a level of 5.43 million in September. |
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| Total existing-home sales – including single-family, townhomes, condominiums and co - ops – rose 0.5% to a seasonally adjusted annual rate1 of 6.24 million units in October from an upwardly revised pace of 6.21 million in September, but were 11.5% below the 7.05 million-unit level in October 2005. |
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Consumer Confidence Extends Decline in November
Nov 28, 10:28 AM EST |
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| The Conference Board Consumer Confidence Index, which edged down in October, declined further in November. |
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| The Index now stands at 102.9, down from 105.1 in October. The Present Situation Index decreased to 123.6 from 125.1. The Expectations Index declined to 89.2 from 91.9 last month. Consumers'''' appraisal of current conditions was less positive than in October. |
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Durable Goods Orders Hit a Six-Year Low
Nov 28, 9:43 AM EST |
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| Inventories of manufactured durable goods in October, up nine of the last ten months, increased $2.3 billion or 0.8% to $293.8 billion. |
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| New orders for manufactured durable goods in October decreased $19.0 billion or 8.3% to $210.0 billion, the U.S. Census Bureau announced today. This followed two consecutive monthly increases, including an 8.7% September increase. Excluding transportation, new orders decreased 1.7%. Excluding defense, new orders decreased 6.4%. |
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Crude Oil Inventories Increase
Nov 22, 10:58 AM EST |
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| U.S. crude oil imports averaged 10.5 million barrels per day last week, up over 1.0 million barrels per day from the previous week. |
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| U.S. crude oil refinery inputs averaged 15.0 million barrels per day during the week ending November 17, up 60,000 barrels per day from the previous week''''s average. Refineries operated at 87.1% of their operable capacity last week. Gasoline production inched slightly higher last week compared to the previous week, averaging 8.7 million barrels per day, while distillate fuel production increased as well, averaging nearly 4.1 million barrels per day. |
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