The Chicago Purchasing Managers reported the CHICAGO BUSINESS BAROMETER eased again, tempering the pace of its expansion while marking its eighth month of growth. All Business Activity indexes except EMPLOYMENT signaled expansion.

BUSINESS ACTIVITY:
EMPLOYMENT slipped below neutral for the first time in 2010;
INVENTORIES recorded its broadest build in 43 months;
PRODUCTION and NEW ORDERS continued strong. ...

The Index of Consumer Sentiment has remained largely unchanged during the past three months at the same improved level first recorded last September. Although the overall level has not changed, there has been significant shifts in the components of confidence as well as across population subgroups. Consumers’ evaluations of current ...

Personal income increased $54.4 billion, or 0.4 percent, and disposable personal income (DPI) increased $57.6 billion, or 0.5 percent, in April, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $4.0 billion, or less than 0.1 percent. In March, personal income increased $46.7 billion, or 0.4 ...

New York City business activity expanded at a record pace in May according to the survey taken by the Institute for Supply Man agement-New York (ISM-NY).

The Current Business Conditions index catapulted to 89.9 in May from 62.2 in April. The May level was the highest since the inception of the survey in 1993. The 27.6-point gain was the fifth largest on record. And the record high print was four months removed from the ...

The Chicago Fed Midwest Manufacturing Index (CFMMI) increased 1.2% in April, to a seasonally adjusted level of 85.2 (2002 = 100). Revised data show the index rose 1.5% in March to 84.2. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) increased 1.1% in April. Regional output in April edged up 7.5% from a ...

Tenth District manufacturing activity grew at a much slower rate in May than in previous months, but producers were more optimistic about future activity. Price indexes were mixed, with some slowing in the rate of materials price increases and a flattening of finished goods prices. However, a number of firms continued plans to raise finished ...

For the week ending May 15, 2010, the DJ-BTMU U.S. Business Barometer dropped for a second week in a row, down -0.6 percent. The “great unwind” continued in the latest week as mortgage applications saw their largest decline (-27.1%) since the week ending April 4, 1997 (-32.4%). The drop in applications represented a -0.4 percentage point drag ...

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 3.0 percent in the first quarter of 2010, (that is, from the fourth quarter to the first quarter), according to the "second" estimate released by the Bureau of Economic Analysis. In ...

In the week ending May 22, the advance figure for seasonally adjusted initial claims was 460,000, a decrease of 14,000 from the previous week's revised figure of 474,000. The 4-week moving average was 456,500, an increase of 2,250 from the previous week's revised average of ...

Sales of new one-family houses in April 2010 were at a seasonally adjusted annual rate of 504,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 14.8 percent (±19.5%) above the revised March rate of 439,000 and is 47.8 percent (±26.0%) above the April ...

New orders for manufactured durable goods in April increased $5.6 billion or 2.9 percent to $193.9 billion, the U.S. Census Bureau announced today. This was the fourth increase in the last five months and followed a slight March decrease. Excluding transportation, new orders decreased 1.0 percent. Excluding defense, new orders increased ...

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending May 21, 2010. The Market Composite Index, a measure of mortgage loan application volume, increased 11.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 10.3 percent ...

In May, the seasonally adjusted composite index of manufacturing activity — our broadest measure of manufacturing — declined four points to 26 from April's reading of 30. Among the index's components, shipments edged up two points to 32, new orders inched down five points to finish at 36, and the jobs index dropped nine points to end ...

The Conference Board Consumer Confidence Index® increased in May, its third consecutive monthly gain. The Index now stands at 63.3 (1985=100), up from 57.7 in April. The Present Situation Index increased to 30.2 from 28.2. The Expectations Index improved to 85.3 from 77.4 ...

Data through March 2010, released today by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, show that the U.S. National Home Price Index fell 3.2% in the first quarter of 2010, but remains above its year-earlier level. In March, 13 of the 20 MSAs covered by S&P/Case-Shiller Home Price ...

Retailers once again saw their sales dip as consumers pulled back a bit on their discretionary spending this past week. Overall for the week ending May 22, weekly sales slipped by 0.8 percent, according to the ICSC-Goldman Sachs weekly sales index. On a year-over-year basis sales were also affected and slowed to 1.3 ...

Existing-home sales rose again in April with buyers motivated by the tax credit, improving consumer confidence and favorable affordability conditions, according to the National Association of Realtors®.

Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 7.6 percent to a seasonally adjusted annual rate of 5.77 million units in April from an upwardly revised 5.36 million in March, and are 22.8 ...

Led by continued improvements in production- and employment-related indicators, the Chicago Fed National Activity Index increased to +0.29 in April, up from +0.13 in March. April marked the highest level of the index since December 2006 and the third time in the past four months that the index indicated above-average economic activity. Three ...

Employers took 1,856 mass layoff actions in April that resulted in the separation of 200,870 workers, seasonally adjusted, as measured by new filings for unemployment insurance benefits during the month, the U.S. Bureau of Labor Statistics reported today. Each action involved at least 50 persons from a single employer. The number of mass ...

For the week ending May 8, 2010, the DJ-BTMU U.S. Business Barometer declined -0.2% for the first time after growing for eleven straight weeks. As we suspected, the surge in mortgage applications leading up to the expiration of the homebuyer tax credits has now given way to the first sign of payback. In the latest week the mortgage ...

According to the firms polled for this month's Business Outlook Survey, regional manufacturing activity continues to expand. Firms reported some expansion of overall employment again this month. The survey's broad indicators of future activity continue to suggest that the region's manufacturing executives expect growth in business over the ...

The Conference Board Leading Economic Index®(LEI) for the U.S. declined 0.1 percent in April, following a 1.3 percent gain in March, and a 0.4 percent rise in February.

These latest results suggest a recovery that will continue through the summer, although it could lose a little steam. The U.S. LEI declined slightly for the first time in more than a year, and its six-month growth rate has moderated since December. Meanwhile, the coincident ...

In the week ending May 15, the advance figure for seasonally adjusted initial claims was 471,000, an increase of 25,000 from the previous week's revised figure of 446,000. The 4-week moving average was 453,500, an increase of 3,000 from the previous week's unrevised average of ...

On a seasonally adjusted basis, the Consumer Price Index for All Urban Consumers (CPI-U) declined 0.1 percent in April, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the index increased 2.2 percent before seasonal adjustment.

The index for energy decreased 1.4 percent in April and accounted for the seasonally adjusted decline in the all items index. The indexes for gasoline and natural gas both decreased significantly, outweighing increases in the indexes for fuel oil and electricity.

The food ...

Real average hourly earnings for all employees rose 0.1 percent from March to April, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This increase stems from a 0.1 percent decrease in the Consumer Price Index for All Urban Consumers (CPI-U) while average hourly earnings ...

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending May 14, 2010. The Market Composite Index, a measure of mortgage loan application volume, decreased 1.5 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 3.1 percent compared ...

The Producer Price Index for Finished Goods declined 0.1 percent in April, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This decrease followed a 0.7-percent advance in March and a 0.6-percent decrease in February. At the earlier stages of processing, prices received by producers of intermediate goods moved up ...

BUILDING PERMITS
Privately-owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 606,000. This is 11.5 percent (±1.1%) below the revised March rate of 685,000, but is 15.9 percent (±1.3%) above the revised April 2009 estimate of 523,000. Single-family authorizations in April were at a rate ...

Unseasonable and cold weather put the freeze on weekly sales this past week. As a result, for the week ending May 15, weekly sales fell by 2.5 percent, according to the ICSC-Goldman Sachs weekly sales index. On a year-over-year basis sales were also affected and slowed to ...

Builder confidence in the market for newly built, single-family homes rose for a second consecutive month in May to its highest level in more than two years, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today. The HMI gained three points to 22 in May, its highest point since ...

The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for March 2010. Net foreign purchases of long-term securities were $140.5 billion.

Net foreign purchases of long-term U.S. securities were $157.7 billion. Of this, net purchases by private foreign investors were $125.0 billion, and net purchases by foreign official institutions were $32.7 billion. U.S. residents purchased a net $17.1 billion of long-term ...

The Empire State Manufacturing Survey indicates that conditions for New York manufacturers continued to improve for a tenth consecutive month in May, albeit at a slower pace than in April. The general business conditions index fell 13 points, to 19.1. Similarly, the new orders and shipments indexes also moved lower but remained at positive ...

The outlook for the U.S. economy over the next few quarters looks stronger now than it did just three months ago, according to 44 forecasters surveyed by the Federal Reserve Bank of Philadelphia. The forecasters predict real GDP will grow at an annual rate of 3.3 percent over each of the next two quarters, up from the previous estimate of ...

The U.S. Census Bureau announced today that the combined value of distributive trade sales and manufacturers’ shipments for March, adjusted for seasonal and trading-day differences but not for price changes, was estimated at $1,069.0 billion, up 2.3 percent (±0.2%) from February 2010 and up 11.9 percent (±0.4%) from March ...

Industrial production increased 0.8 percent in April after having risen 0.2 percent in March. The rates of change for both January and March were revised up, but the rate of change for February was revised down; nevertheless, the cumulative change over those months was only slightly lower than previously reported. Manufacturing output climbed ...

The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for April, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $366.4 billion, an increase of 0.4 percent (±0.5%) from the previous month and 8.8 percent (±0.5%) above April 2009. Total sales ...

For the week ending May 1, 2010, the DJ-BTMU U.S. Business Barometer increased +0.5 percent extending its growth streak to eleven straight weeks. A surge of mortgage applications over the past three weeks leading up to the April 30 expiration of the homebuyers’ tax credit resulted in a 0.2 percentage point boost to the barometer in the latest ...

In the week ending May 8, the advance figure for seasonally adjusted initial claims was 444,000, a decrease of 4,000 from the previous week's revised figure of 448,000. The 4-week moving average was 450,500, a decrease of 9,000 from the previous week's revised average of ...

U.S. import prices advanced 0.9 percent in April, the U.S. Bureau of Labor Statistics reported today, following a 0.5 percent increase the previous month. Higher prices for fuel and nonfuel imports contributed to the overall advance. Prices for U.S. exports also increased in April, rising 1.2 percent after a 0.7 percent advance ...

The Nation’s international trade deficit in goods and services increased to $40.4 billion in March from $39.4 billion (revised) in February, as imports increased more than exports.

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total March exports of $147.9 billion and imports of $188.3 billion resulted in a goods and services deficit of $40.4 billion, up from $39.4 billion in ...

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending May 7, 2010. The Market Composite Index, a measure of mortgage loan application volume, increased 3.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 3.4 percent compared ...

The U.S. Census Bureau announced today that March 2010 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 $348.0 billion, up 2.4 percent (+/-0.5%) from the revised February level and were up 15.8 percent (+/-1.2%) ...

There were 2.7 million job openings on the last business day of March 2010, the U.S. Bureau of Labor Statistics reported today. The job openings rate was unchanged over the month at 2.0 percent. The hires rate (3.3 percent) was little changed, and the separations rate (3.1 percent) was unchanged in March. This release includes estimates of ...

Warm weather and Mother’s Day acted as a sales catalyst giving retailers a slight rebound in sales this past week. For the week ending May 8, weekly sales rose by 0.1 percent, according to the ICSC-Goldman Sachs weekly sales index. On a year-over-year basis sales remained positive and healthy at 4.3 ...

The Index of Small Business Optimism gained 3.8 points, rising to 90.6, barely exceeding the “90 barrier”. Pessimism persists but the Index is finally out of the 80s, at least for one month. The April Index ended seven straight quarters of under 90 readings - a pyrrhic victory considering the mound of obstacles heading down Main Street ...

The Conference Board Employment Trends Index™ (ETI) increased again in April for the eighth consecutive month. The index now stands at 94.7, up from March's revised figure of 93.9. The index is up 7.1 percent from a year ago.

The employment trends index continued to rise in April, but its rate of growth has slowed in recent months. Going forward, we do not expect job growth to accelerate much beyond this month's rate, as the overall increase in economic activity is likely to moderate during the ...

Consumer credit increased at an annual rate of 1 percent in March 2010. Revolving credit decreased at an annual rate of 4-1/2 percent, and nonrevolving credit increased at an annual rate of 4 percent.

...

Nonfarm payroll employment rose by 290,000 in April, the unemployment rate edged up to 9.9 percent, and the labor force increased sharply, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in manufacturing, professional and business services, health care, and leisure and hospitality. Federal government employment also ...

For the week ending April 24, 2010, the DJ-BTMU U.S. Business Barometer increased +0.1 percent extending its growth streak to ten straight weeks. The consumption side of the barometer saw particular strength in inflation-adjusted chain store sales, a surge in mortgage applications (the last hurrah before the tax credit expires) and box ...

Nonfarm business sector labor productivity increased at a 3.6 percent annual rate during the first quarter of 2010, the U.S. Bureau of Labor Statistics reported today, with output rising 4.4 percent and hours worked rising 0.8 percent. (All quarterly percent changes in this release are seasonally adjusted annual rates.) From the first quarter ...