The Chicago Purchasing Managers reported the CHICAGO BUSINESS BAROMETER grew again to its highest level since July 1988, indicating expansion for the seventeenth consecutive month.

BUSINESS ACTIVITY:
NEW ORDERS nudged upward, still at the highest level since December 1983;
ORDER BACKLOGS reached its highest point since July 1994; ...

Pending home sales eased moderately in January for the second straight month, but remain 20.6 percent above the cyclical low last June, according to the National Association of Realtors®.

The Pending Home Sales Index,* a forward-looking indicator, declined 2.8 percent to 88.9 based on contracts signed in January from a downwardly revised 91.5 ...

Personal income increased $133.2 billion, or 1.0 percent, and disposable personal income (DPI) increased $78.3 billion, or 0.7 percent, in January, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $23.7 billion, or 0.2 percent. In December, personal income increased $56.6 billion, or 0.4 percent, ...

New York City business activity expanded at the fastest pace in eight months, according to the survey taken by the Institute for Supply Management-New York (ISM-NY). The Current Business Conditions index rose to 71.2 in January from a revised 63.8 in December.

Future optimism surged to a 12-month high and stood at the third highest level in the survey’s history, indicating very widespread gains. The Six-Month Outlook index increased to 90.7 in January from a revised 75.1 in December. ...

Consumer confidence rose to its highest level in three years. Higher income households were responsible for all of the February gain over the prior month. The Sentiment Index rose by 9.7% among households with incomes above $75,000, but fell by –1.4% among lower income households. The difference was due to more favorable job and income ...

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

Growth in Tenth District manufacturing activity matched an all-time survey high in February, and firms expected strong activity in the months ahead. Prices for raw materials continued to rise, and more firms were raising finished goods prices.

The month-over-month composite index was 19 in February, up from 7 in January and 14 in December. This reading matched all-time survey highs reached several times from late 2003 to early 2005. The composite index is an average of the production, new orders, employment, ...

Sales of new single-family houses in January 2011 were at a seasonally adjusted annual rate of 284,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 12 6 percent (±11 2%) below the revised December rate of 325 000 and is 18 6 percent (±15 4%) below the ...

For the week ending February 12, 2011, the DJ-BTMU U.S. Business Barometer declined by -0.3 percent after increasing for two consecutive weeks. Though sixty percent of the barometer’s components increased in the latest week, the overall index was dragged down by a big dip in housing activity and inflation-adjusted chain store sales. According ...

Led by declines in production-related indicators, the Chicago Fed National Activity Index decreased to –0.16 in January from +0.18 in December. Three of the four broad categories of indicators that make up the index made positive contributions in January, but they were offset by continued weakness in the consumption and housing category.
...

New orders for manufactured durable goods in January increased $5.3 billion or 2.7 percent to $200.5 billion, the U.S. Census Bureau announced today. This increase followed three consecutive monthly decreases including a 0.4 percent December decrease. Excluding transportation, new orders decreased 3.6 percent. Excluding defense, new ...

In the week ending Feb. 19, the advance figure for seasonally adjusted initial claims was 391,000, a decrease of 22,000 from the previous week's revised figure of 413,000. The 4-week moving average was 402,000, a decrease of 16,500 from the previous week's revised average of ...

The uptrend in existing-home sales continues, with January sales rising for the third consecutive month with a pace that is now above year-ago levels, according to the National Association of REALTORS.

Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 2.7 percent to ...

Employers took 1,534 mass layoff actions in January involving 149,799 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 mass layoff event involved at least 50 workers from a single employer. The number of mass layoff events ...

The ICSC-Goldman Sachs (ICSC-GS) chain-store sales index for the latest week ending on February 19 jumped by 2.6%, which more than offset the prior week’s decline. The recent rollercoaster pattern is not uncommon at times of low volume and high noise from weather and other seemingly small factors that get amplified. During the past week ...

Mortgage applications increased 13.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending February 18, 2011.

The Market Composite Index, a measure of mortgage loan application volume, increased 13.2 percent on a seasonally adjusted basis from one ...

Manufacturing activity in the central Atlantic region expanded for the fifth straight month, according to the Richmond Fed's latest survey. All broad indicators — shipments, new orders and employment — posted solid gains. Other indicators also suggested stronger activity. District contacts reported that backlogs grew at a quicker pace and ...

The Conference Board Consumer Confidence Index®, which had increased in January, improved further in February. The Index now stands at 70.4 (1985=100), up from 64.8 in January. The Present Situation Index improved to 33.4 from 31.1. The Expectations Index increased to 95.1 from 87.3 last month.

The Consumer Confidence Index is now at ...

Data through December 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 declined by 3.9% during the fourth quarter of 2010. The National Index is down 4.1% versus the fourth quarter of 2009, which is the lowest annual ...

According to respondents to the February Business Outlook Survey, growth in the region’s manufacturing sector picked up this month. Most of the broad indicators showed an improvement over their readings in January, and employment among reporting firms increased. Increases in input prices continued to be widespread this month, and slightly ...

The Conference Board Leading Economic Index® (LEI) for the U.S. increased 0.1 percent in January to 112.3 (2004 = 100), following a revised 0.8 percent increase in December, and a 1.1 percent increase in November.

With January’s slight increase, following two large gains, the U.S. LEI is still pointing to economic expansion in the coming months. Falling housing permits and weakening labor market indicators were barely offset by the continued positive contributions of the financial ...

For the week ending February 5, 2011, the DJ-BTMU U.S. Business Barometer increased +0.5 percent, rising for a second consecutive week. A rebound in inflation-adjusted chain store sales helped mitigate weakness in housing demand and box office receipts, while cold temps caused a jump in demand for ...

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in January on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.6 percent before seasonal adjustment.

Increases in indexes for energy commodities and for food accounted for ...

Real average hourly earnings for all employees fell 0.1 percent from December to January, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This decrease stemmed from a 0.4 percent increase in average hourly earnings, which was partially offset by a 0.4 percent increase in the Consumer Price Index for All Urban ...

In the week ending Feb. 12, the advance figure for seasonally adjusted initial claims was 410,000, an increase of 25,000 from the previous week's revised figure of 385,000. The 4-week moving average was 417,750, an increase of 1,750 from the previous week's revised average of ...

Industrial production decreased 0.1 percent in January 2011 after having risen 1.2 percent in December. In the manufacturing sector, output increased 0.3 percent in January after an upwardly revised gain of 0.9 percent in December. Excluding motor vehicles and parts, factory production rose 0.1 percent in January. The output of utilities fell ...

BUILDING PERMITS
Privately-owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 562,000. This is 10.4 percent (±1.8%) below the revised December rate of 627,000 and is 10.7 percent (±1.2%) below the January 2010 estimate of 629,000. Single-family authorizations in January were at a rate ...

The Producer Price Index for finished goods rose 0.8 percent in January, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This advance followed increases of 0.9 percent in December and 0.7 percent in November and marks the seventh straight rise in finished goods prices. At the earlier stages of processing, prices ...

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending February 11, 2011. The Market Composite Index, a measure of mortgage loan application volume, decreased 9.5 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 7.9 percent ...

The U.S. Census Bureau announced today that the combined value of distributive trade sales and manufacturers’ shipments for December, adjusted for seasonal and trading-day differences but not for price changes, was estimated at $1,148.0 billion, up 1.1 percent (±0.2%) from November 2010 and up 8.7 percent (±0.6%) from ...

Builder confidence in the market for newly built, single-family homes remained unchanged at 16 for a fourth consecutive month in February, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today.

While builders are starting to see more interest among potential home buyers, we are also dealing with a multitude of challenges, including competition from foreclosure properties and inaccurate appraisals of new homes, which are limiting our ability to sell. On top of ...

The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for December 2010. Net foreign purchases of long-term securities were $65.9 billion.

Net foreign purchases of long-term U.S. securities were $76.8 billion. Of this, net purchases by private foreign investors were $66.3 billion, and net purchases ...

The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for January, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $381.6 billion, an increase of 0.3 percent (±0.5%)* from the previous month, and 7.8 percent (±0.7%) above January 2010. ...

The price index for U.S. imports increased 1.5 percent in January, the U.S. Bureau of Labor Statistics reported today, as higher prices for fuel and nonfuel imports each contributed to the advance. U.S. export prices rose 1.2 percent in January, following increases of 1.5 percent in November and 0.6 percent ...

The Empire State Manufacturing Survey indicates that conditions for New York manufacturers continued to improve in February. The general business conditions index rose 3.5 points to 15.4. The new orders index edged down just slightly, to 11.8. The shipments index retreated 14 points, reversing much of January's 18-point surge, but ...

After last week’s solid sales increase retailers got back on their rollercoaster ride as weekly sales declined this past week. Overall, for the week ending February 12, retail sales declined by 1.4 percent on a weekly basis, according to the ICSC-Goldman Sachs Weekly Chain Store Sales Index. Despite the weekly decline, sales on a ...

The outlook for growth in the U.S. economy looks more positive now than it did just three months ago, according to 43 forecasters surveyed by the Federal Reserve Bank of Philadelphia. The panel expects real GDP to grow at an annual rate of 3.6 percent this quarter, up from the previous estimate of 2.4 percent. On an annual-average ...

The Nation's international trade deficit in goods and services increased to $497.8 billion in 2010 from $374.9 billion in 2009.

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total December exports of $163.0 billion and imports of $203.5 billion resulted in a goods and services deficit of $40.6 billion, up from $38.3 billion ...

For the week ending January 29, 2011, the DJ-BTMU U.S. Business Barometer increased +0.1 percent, the first weekly rise in the New Year. For January overall, the barometer fell by -0.4 percent compared to an increase of +0.8 percent in December. No doubt weather played a large role in depressing the barometer in January, just as it has held ...

The U.S. Census Bureau announced today that December 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 $371.5 billion, up 0.4 percent (+/-0.7%)* from the revised November level and were up 11.6 percent ...

In the week ending Feb. 5, the advance figure for seasonally adjusted initial claims was 383,000, a decrease of 36,000 from the previous week's revised figure of 419,000. The 4-week moving average was 415,500, a decrease of 16,000 from the previous week's revised average of ...

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending February 4, 2011. The Market Composite Index, a measure of mortgage loan application volume, decreased 5.5 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 3.9 percent ...

There were 3.1 million job openings on the last business day of December, the U.S. Bureau of Labor Statistics reported today. The job openings rate was essentially unchanged over the month at 2.3 percent. Both the hires rate and the separations rate were unchanged at 3.2 percent each in December. This release includes estimates of the number ...

The National Federation of Independent Business Index of Small Business Optimism rose 1.5 points in January, a modest increase, opening the new year with a reading of 94.1. The slight overall uptick in optimism might have been higher, but was blunted by small business owners’ skepticism about the future and continued hesitancy to spend and ...

Despite the continuation of weather woes throughout the country, retailers were finally able to post a solid sales increase this past week. As a result, for the week ending February 5, sales increased by 2.2 percent on a weekly basis, according to the ICSC-Goldman Sachs Weekly Chain Store Sales Index. In addition to the weekly sales ...

Consumer credit increased at an annual rate of 2-1/2 percent in the fourth quarter. Revolving credit declined at an annual rate of 2-3/4 percent, and nonrevolving credit increased at an annual rate of 5-1/2 percent. In December, consumer credit increased 3 percent at an ...

The Conference Board Employment Trends Index™ (ETI) increased in January for the fourth consecutive month. The index now stands at 100.5, up from December’s revised figure of 100.3. The index is up 7 percent from a year ago.

Despite anemic job gains in January, the Employment Trends Index suggests that employment growth is poised to accelerate. Both ‘hard’ economic data as well as confidence measures have improved, and since employment growth typically lags, we expect larger numbers of jobs to ...

The unemployment rate fell by 0.4 percentage point to 9.0 percent in January, while nonfarm payroll employment changed little (+36,000), the U.S. Bureau of Labor Statistics reported today. Employment rose in manufacturing and in retail trade but was down in construction and in transportation and warehousing. Employment in most other ...

Economic activity in the non-manufacturing sector grew in January for the 14th consecutive month, say the nation's purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business®.

The NMI (Non-Manufacturing Index) registered 59.4 percent in January, 2.3 percentage points higher than the seasonally adjusted 57.1 percent registered in December (the seasonal adjustment did not change the reading that was originally reported), and indicating continued ...

New orders for manufactured goods in December, up five of the last six months, increased $0.7 billion or 0.2 percent to $426.8 billion, the U.S. Census Bureau reported today. This followed a 1.3 percent November increase. Excluding transportation, new orders increased ...