The October survey recorded the largest monthly decline in consumer confidence in the history of the surveys. “Consumer confidence had already declined by mid 2008 by more than prior to any past recession and the steep October loss indicates that accelerated cutbacks in spending can be expected during the months ahead,” according to ...

The intensification of the financial crisis generated the worst month for New York City business activity since July 2007, according to the survey taken by the National Association of Purchasing Management- New York (NAPM-NY). The Current Business Conditions index dropped to 35.6 in ...

CHICAGO BUSINESS BAROMETER™ PLUMMETED
The Chicago Purchasing Managers reported the CHICAGO BUSINESS BAROMETER plummeted in October to the lowest level since May 2001 as the three month moving average fell for all series except Inventories

BUSINESS ACTIVITY:
PRICES PAID and PRODUCTION indexes reported record declines;
EMPLOYMENT continued year-long decline;
BUYING POLICY: lead-times were reduced. ...

Personal income increased $24.5 billion, or 0.2 percent, and disposable personal income (DPI) increased $25.7 billion, or 0.2 percent, in September, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) decreased $33.6 billion, or 0.3 percent. In August, personal income increased $44.8 billion, or 0.4 percent, ...

Total compensation costs for civilian workers increased 0.7 percent from June to September 2008, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today, the same as the increase for the last two quarters. Both components of compensation--wages and salaries and benefits--registered increases that were ...

For the week ending October 18, 2008, the DJ-BTMU U.S. Business Barometer declined by -0.7 percent, and has not posted a gain in seven weeks. An all-out financial panic has permeated the consumer sector of the economy driving auto production to new lows, causing chain store sales to tank, and housing activity to fall off the map. Through ...

In the week ending Oct. 25, the advance figure for seasonally adjusted initial claims was 479,000, unchanged from the previous week's revised figure of 479,000. The 4-week moving average was 475,500, a decrease of 5,000 from the previous week's revised average of 480,500.

The advance seasonally adjusted insured unemployment rate was 2.8 percent for the week ending Oct. 18, unchanged from the prior week's unrevised rate of 2.8 percent. ...

Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- decreased at an annual rate of 0.3 percent in the third quarter of 2008, (that is, from the second quarter to the third quarter), according to advance estimates released by the Bureau of Economic Analysis. In the ...

The Federal Open Market Committee decided today to lower its target for the federal funds rate 50 basis points to 1 percent.

The pace of economic activity appears to have slowed markedly, owing importantly to a decline in consumer expenditures. Business equipment spending and industrial production have weakened in recent months, and slowing economic activity in many foreign economies is damping ...

New orders for manufactured durable goods in September increased $1.6 billion or 0.8 percent to $207.8 billion, the U.S. Census Bureau announced today. This was the fourth increase in the last five months and followed a 5.5 percent August decrease. Excluding transportation, new orders decreased 1.1 percent. Excluding defense, new orders ...

In October, the seasonally adjusted manufacturing index — our broadest measure of manufacturing activity — decreased to -26 from September's reading of -18. Manufacturing activity in the central Atlantic region contracted more sharply in October, according to the Richmond Fed's latest survey. The index of overall activity was pushed lower ...

The Conference Board Consumer Confidence Index™, which had improved moderately in September, fell to an all-time low in October. The Index now stands at 38.0 (1985=100), down from 61.4 in September. The Present Situation Index decreased to 41.9 from 61.1 last month. The Expectations Index declined to 35.5 from 61.5 in ...

Data through August 2008, released today by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, shows continued broad based declines in the prices of existing single family homes across the United States, a trend that prevailed throughout the first half of 2008 and has continued into the ...

The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index increased 0.5% in the week to Oct. 25 from its level a week before, on a seasonally-adjusted, comparable store basis. This result Tuesday followed a 1.6% decline in the prior week and a 0.7% rise in the week before ...

The Chicago Fed Midwest Manufacturing Index (CFMMI) declined 2.6% in September, to a seasonally adjusted level of 100.6 (2002 = 100). Revised data show the index decreased 2.6% in August, to 103.3. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) decreased 2.7% in September. Regional output in September was ...

Texas manufacturing activity continued to decline in October. Most indicators of current production and general business conditions remained weak. Nearly all indexes for future activity dipped considerably, and several manufacturers noted that the credit crisis had dampened their outlook. Indexes for production, capacity utilization, volume ...

Sales of new one-family houses in September 2008 were at a seasonally adjusted annual rate of 464,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 2.7 percent above the revised August rate of 452,000, but is 33.1 percent below the September 2007 estimate ...

Existing-home sales increased last month as buyers responded to improved housing affordability conditions, according to the National Association of Realtors®.

Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 5.5 percent to a seasonally adjusted annual rate¹ of 5.18 million units in September from a level of 4.91 million in August, and are 1.4 percent higher than the 5.11 million-unit pace ...

For the week ending October 11, 2008, the DJ-BTMU U.S. Business Barometer declined by -0.3 percent following a small gain of +0.1 percent in the prior week. The deepening financial crisis, which has caused a world slowdown in economic activity, is having a noticeable affect on the barometer’s production components. In particular, steel ...

In the week ending Oct. 18, the advance figure for seasonally adjusted initial claims was 478,000, an increase of 15,000 from the previous week's revised figure of 463,000. It is estimated that the effects of Hurricane Ike in Texas added approximately 12,000 claims to the total. The 4-week moving average was 480,250, a decrease of 4,500 from ...

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending October 17, 2008. This week’s results include an adjustment to account for the Columbus Day holiday. The Market Composite Index, a measure of mortgage loan application volume, was 408.1, a decrease of 16.6 percent on a ...

The Chicago Fed National Activity Index was −2.57 in September, down from −1.61 in August. Most of the index's decline in September was driven by the steep drop in industrial production, as reflected in the contribution of the production and income category of indicators. However, all four broad categories of indicators made negative ...

The Conference Board announced today that the U.S. leading index increased 0.3 percent, the coincident index decreased 0.5 percent and the lagging index decreased 0.2 percent in September.

Real money supply, consumer expectations, the interest rate spread, and the index of supplier deliveries all made large positive contributions to the index in September, more than offsetting the negative contributions from building permits, stock prices, initial claims for ...

Consumer confidence suffered its steepest monthly drop on record in October, a survey showed on Friday, as the worst financial crisis since the Great Depression sent shocks waves through the economy.The Reuters/University of Michigan Surveys of Consumers said its index of confidence plummeted to 57.5 in October from 70.3 ...

BUILDING PERMITS
Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 786,000. This is 8.3 percent (±1.6%) below the revised August rate of 857,000 and is 38.4 percent (±1.6%) below the revised September 2007 estimate of ...

Reflecting profound uncertainties tied to the financial market shocks of recent weeks, builder confidence in the market for new single-family homes receded to a new record low this month. The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) declined three points to 14 in October after having edged up slightly in ...

For the week ending October 4, 2008, the DJ-BTMU U.S. Business Barometer gained +0.1 percent following three consecutive weeks of hefty losses. The deepening financial crisis has squeezed the U.S. economy into contraction in the second half of the year. The business barometer points to negative growth in the real economy in Q3 (which BTMU ...

Conditions in the region's manufacturing sector deteriorated significantly in October, according to firms polled this month. Coincident with the turmoil in financial markets over the past few weeks, indexes for general activity, new orders, shipments, and employment all decreased sharply from their readings in September. Cost pressures, which ...

The Consumer Price Index for All Urban Consumers (CPI-U) decreased 0.1 percent in September, before seasonal adjustment, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. The September level of 218.783 (1982-84=100) was 4.9 percent higher than in September 2007.

The Consumer Price Index for Urban Wage Earners ...

Industrial production dropped 2.8 percent in September, as hurricanes Gustav and Ike and a strike at a major producer of civilian aircraft severely curtailed output. For the third quarter as a whole, industrial production decreased at an annual rate of 6.0 percent. Manufacturing production fell 2.6 percent in September. The output of mines ...

The Nation's international deficit in goods and services decreased to $59.1 billion in August from $61.3 billion (revised) in July, as imports decreased more than exports,

Goods and Services
Exports decreased to $164.7 billion in August from $168.1 billion in July. Goods were $117.6 billion in August, down from $120.8 billion in July, and services were $47.1 billion in August, down from $47.3 billion in July. ...

In the week ending Oct. 11, the advance figure for seasonally adjusted initial claims was 461,000, a decrease of 16,000 from the previous week's revised figure of 477,000. It is estimated that the effects of Hurricane Ike in Texas added approximately 12,000 claims to the total. The 4-week moving average was 483,250, an increase of 750 from ...

Reports indicated that economic activity weakened in September across all twelve Federal Reserve Districts. Several Districts also noted that their contacts had become more pessimistic about the economic outlook.

Consumer spending decreased in most Districts, with declines reported in retailing, auto sales and tourism. Nearly all Districts commenting on nonfinancial service industries noted reduced activity. Manufacturing slowed in most Districts. Residential real estate markets ...

The Producer Price Index for Finished Goods decreased 0.4 percent in September, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Deparment of Labor reported today. This decline followed a 0.9-percent drop in August and a 1.2-percent increase in July. At the earlier stages of processing, prices received by producers of ...

The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for September, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $375.5 billion, a decrease of 1.2 percent (±0.5%) from the previous month and 1.0 percent (±0.7%) below September 2007. ...

The Empire State Manufacturing Survey indicates that conditions for New York manufacturers deteriorated significantly in October. The general business conditions index dropped 17 points to a record-low -24.6. The new orders index also fell to a record low, and the indexes for shipments, unfilled orders, and inventories all declined sharply. ...

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending October 10, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 489.3, an increase of 5.1 percent on a seasonally adjusted basis from 465.5 one week earlier. On an unadjusted basis, the Index ...

The U.S. Import Price Index decreased 3.0 percent in September, the Bureau of Labor Statistics of the U.S. Department of Labor reported today, following a 2.6 percent decline in August. Falling petroleum prices led the overall decrease, although nonpetroleum prices also declined. Prices for overall exports decreased 1.0 percent for ...

Sales
The U.S. Census Bureau announced today that August 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 $404.9 billion, down 1.0 percent (+/-0.5%) from the revised July level, but up 13.4 percent ...

In the week ending Oct. 4, the advance figure for seasonally adjusted initial claims was 478,000, a decrease of 20,000 from the previous week's revised figure of 498,000. It is estimated that the effects of Hurricane Gustav in Louisiana and the effects of Hurricane Ike in Texas added approximately 17,000 claims to the total. The 4-week ...

Pending home sales activity surged as buyers took advantage of low home prices and affordable interest rates, according to the National Association of Realtors®.

The Pending Home Sales Index,1 a forward-looking indicator based on contracts signed in August, jumped 7.4 percent to 93.4 from an upwardly revised reading of 87.0 in July, and is 8.8 percent higher than August 2007 when it stood at 85.8. The index is at the highest level ...

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending October 3, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 465.5, an increase of 2.2 percent on a seasonally adjusted basis from 455.4 one week earlier. On an unadjusted basis, the Index ...

Consumer credit decreased at an annual rate of 3-3/4 percent in August. Revolving credit decreased at an annual rate of 3/4 percent, and nonrevolving credit decreased at an annual rate of 5-1/2 percent.

...

"The NMI (Non-Manufacturing Index) registered 50.2 percent in September, 0.4 percentage point lower than the 50.6 percent registered in August, indicating growth for the second consecutive month in the non-manufacturing sector. The Non-Manufacturing Business Activity Index increased 0.5 percentage point to 52.1 percent. The New Orders ...

Nonfarm payroll employment declined by 159,000 in September, and the unemployment rate held at 6.1 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Employment continued to fall in construction, manufacturing, and retail trade, while mining and health care continued to ...

New orders for manufactured goods in August, down following five consecutive monthly increases, decreased $18.6 billion or 4.0 percent to $444.4 billion, the U.S. Census Bureau reported today. This was the largest percent decrease in new orders since October 2006 and followed a 0.7 percent July increase. Shipments, down following five ...

In the week ending Sept. 27, the advance figure for seasonally adjusted initial claims was 497,000, an increase of 1,000 from the previous week's revised figure of 496,000. It is estimated that the effects of Hurricane Gustav in Louisiana and the effects of Hurricane Ike in Texas added approximately 45,000 claims to the total. The 4-week ...

The U.S. Census Bureau of the Department of Commerce announced today that construction spending during August 2008 was estimated at a seasonally adjusted annual rate of $1,072.1 billion, nearly the same as (±1.4%)* the revised July estimate of $1,071.8 billion. The August figure is 5.9 percent (±1.9%) below the August 2007 estimate of ...

"The PMI indicates a significantly faster rate of decline in manufacturing during September, marking a departure from the 2008 trend toward negligible growth or contraction each month. This is the lowest level for the PMI since October 2001. This month's report is showing prices rising at a much slower rate, as the Prices Index fell to the ...

Nonfarm private employment decreased 8,000 from August to September 2008 on a seasonally adjusted basis, according to the ADP National Employment Report®. The estimated change in employment from July to August was revised down from a decrease of 33,000 to a decrease of 37,000.

September’s ADP National Employment Report continues to ...