Comparing Recoveries
Weekly Economic Update: September 2-6, 2013
The economy added 169,000 nonfarm payroll jobs in August as the unemployment rate fell to 7.3%. The ISM manufacturing index increased 0.3 points to 55.7 in August. The ISM services index increased 2.6 points to 58.6 in August. Construction spending increased 0.6% in July. Auto sales increased 1.9% i...
Weekly Economic Update: August 26-30, 2013
Durable orders fell sharply in July by 7.3%. The Case-Shiller home price index was up 0.9% for the month of June and up 12.1% from a year ago. GDP growth in the 2nd quarter of 2013 was revised upward to a real annualized rate of 2.5%. Personal income rose 0.1% in July as personal spending also rose ...
Weekly Economic Update: August 19-23, 2013
Existing home sales increased 6.5% to a 5.390 million annual rate for July. New home sales fell 13.4% to an annual rate of 394,000 in July. Initial jobless claims rose 13,000 to 336,000 for the week ended 8/17.
Weekly Economic Update: August 5-9, 2013
ISM services index surged 3.8 points to a higher-than-expected 56.0 for July. The U.S. trade deficit unexpectedly narrowed $9.9 billion to $34.2 billion in June. Consumer credit increased a slower $13.8 billion (0.5%) to $2.848 trillion in June. Initial jobless claims rose 5,000 to 333,000 for the w...
Weekly Economic Update: July 29-August 2, 2013
Pending home sales fell 0.4% in June to a level of 110.9. The Case-Shiller home price index was up 1.0% in June and up 12.2% from a year ago. The FOMC held constant its target for the federal funds rate in the range of 0.0%-0.25%. GDP grew at a real annual rate of 1.7% in the 2nd quarter of 2013, ac...
A Disappointing Employment Report
Today’s report from the Bureau of Labor Statistics (BLS) that the economy added 162,000 nonfarm payroll jobs (161,000 in the private sector) disappointed to the downside, especially considering the downward revisions to prior months’ data. Net of revisions nonfarm payrolls increased by 136,000 and ...
Unemployment Rate Decline Largely a Mirage
Real Gross Domestic Product Grew at an Annual Rate of 1.7% in the Second Quarter
The Bureau of Economic Analysis (BEA) released its advance estimate of 2nd-quarter 2013 real gross domestic product (GDP) today. BEA reported that real GDP grew at an annual rate of 1.7% during the quarter. Over the past year, real GDP has increased 1.4%.
