Wholesale Trade Rises 1.6% in March
May 08, 10:35 AM EDT |
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| Sales of nondurable goods were up 1% from last month and were up 20.1% from last year. |
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| The U.S. Census Bureau announced today that March 2008 sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $384.3 billion, up 1.6% from the revised February level and were up 12.6% from the March 2007 level. |
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Jobless Claims Drop by 18,000
May 08, 8:49 AM EDT |
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| The advance unadjusted insured unemployment rate was 2.2% during the week ending April 26, unchanged from the prior week. |
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| In the week ending May 3, the advance figure for seasonally adjusted initial claims was 365,000, a decrease of 18,000 from the previous week''''s revised figure of 383,000. The 4-week moving average was 367,000, an increase of 2,500 from the previous week''''s revised average of 364,500. |
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Crude and Gasoline Inventories Gain
May 07, 2:11 PM EDT |
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| Distillate fuel inventories decreased by 0.1 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 increased by 5.7 million barrels from the previous week. At 325.6 million barrels, U.S. crude oil inventories are in the middle of the average range for this time of year. Total motor gasoline inventories increased by 0.8 million barrels last week, and are in the upper half of the average range. Finished gasoline inventories fell last week while gasoline blending components inventories increased during this same time. |
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First Quarter Productivity Up 2.2%
May 07, 10:13 AM EDT |
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| Unit labor costs rose 2.2% in the first quarter of 2008, compared to a 2.8% increase in the fourth quarter. |
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| Department of Labor reported first quarter non-farm productivity rose at 2.2% annual rate after rising at a rate of 1.8% in the fourth quarter of 2007. Labor costs increased 0.2% in the quarter from a year ago. Hourly compensation increased 4.4% and manufacturing sector productivity increased at 4.1%. |
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ISM Services Index Jumps To 52%
May 05, 3:39 AM EDT |
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| ISM's Non-Manufacturing Inventories Index registered 47% in April, indicating that inventory levels contracted in April when compared to March. |
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| April''''s NMI at 52% indicates growth in the non-manufacturing sector. A reading above 50% indicates the non-manufacturing sector economy is generally expanding; below 50% indicates the non-manufacturing sector is generally contracting. |
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Banks Tighten Loan Terms
May 05, 4:41 PM EDT |
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| More banks in the last three months tightened ledning terms for commercial and conusmer loans as banks lower their risk profiles. |
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| According the latest survey of banks conducted by the Fed banks have tightened lending terms and standards in the last three months. Banks cited reduced appetite for risk, falling secondary market for loans and general uncertainty in the economy. Residential prime loan market also saw a decline in demand. |
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Factory Orders Rise 1.4% in March
May 02, 10:20 AM EDT |
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| Inventories of manufactured nondurable goods, up six of the last seven months, increased $1.9 billion or 0.9% to $217.7 billion. |
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| New orders for manufactured goods in March, up following two consecutive monthly decreases, increased $5.9 billion or 1.4% to $432.3 billion, the U.S. Census Bureau reported today. This followed a 0.9% February decrease. Shipments, up two of the last three months, increased $4.9 billion or 1.1% to $428.7 billion. This followed a 1.9% February decrease. |
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Nonfarm Employment Declines 20,000 in April
May 02, 8:58 AM EDT |
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| In April, employment in construction declined by 61,000, with losses continuing throughout most of the sector. |
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| Nonfarm payroll employment was little changed in April -20,000, following job losses that totaled 240,000 in the first 3 months of the year, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. The unemployment rate, at 5%, also was little changed in April. Employment continued to decline in construction, manufacturing, and retail trade, while jobs were added in health care and in professional and technical services. |
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Construction Spending Decreases 1.1% in March
May 01, 10:38 AM EDT |
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| During the first 3 months of this year, construction spending amounted to $241.6 billion, 2.4% below the $247.4 billion for the same period in 2007. |
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| The U.S. Census Bureau of the Department of Commerce announced today that construction spending during March 2008 was estimated at a seasonally adjusted annual rate of $1,123.5 billion, 1.1% below the revised February estimate of $1,136.5 billion. The March figure is 3.4% below the March 2007 estimate of $1,163.6 billion. |
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ISM Index Remains Unchanged in April at 48.6%
May 01, 10:29 AM EDT |
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| ISM's New Orders Index registered 46.5% in April, the same as in March. |
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| Manufacturing failed to grow for the third consecutive month in April as the PMI registered 48.6%, the same as in March. A reading above 50% indicates that the manufacturing economy is generally expanding; below 50% indicates that it is generally contracting. |
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