Growth in Tenth District manufacturing activity rebounded solidly in June after a brief slowdown last month, and producers remained generally optimistic about future activity. Raw materials price indexes fell for the second straight month, but more producers plan to raise selling prices in the ...

The Chicago Purchasing Managers reported the CHICAGO BUSINESS BAROMETER rebounded in June and posted a twenty-first month of growth.

BUSINESS ACTIVITY:
PRODUCTION and NEW ORDERS accelerated to mark nearly two years of expansion while their three-month averages declined;
ORDER BACKLOGS diverged from improvements in PRODUCTION and NEW ORDERS;
Breadth of inflation reported in PRICES PAID eased for a ...

For the week ending June 18, 2011, the DJ-BTMU U.S. Business Barometer fell -0.2 percent after declining by -0.5 percent in the prior week, weighted down by declines in chain store sales, freight car loading, and electricity output. A gain in auto production partially offset the declines. In May and April real personal consumption ...

In the week ending June 25, the advance figure for seasonally adjusted initial claims was 428,000, a decrease of 1,000 from the previous week's unrevised figure of 429,000. The 4-week moving average was 426,750, an increase of 500 from the previous week's unrevised average ...

New York City business activity expanded at the slowest rate in two years, according to the survey taken by the Institute for Supply Management-New York (ISM-NY). The Current Business Conditions index fell to 52.6 in June from 67.9 in May. The 15.3-point drop was the tenth largest ...

Pending home sales rose strongly in May with all regions experiencing gains from a year ago, pointing to higher housing activity in the second half of the year, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 8.2 percent to 88.8 in May from an upwardly revised 82.1 in April and is 13.4 percent higher than the 78.3 reading in May 2010. The data reflects contracts but not closings, which ...

Mortgage applications decreased 2.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending June 24, 2011.

The Market Composite Index, a measure of mortgage loan application volume, decreased 2.7 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 3.0 percent compared with the previous week. The Refinance Index decreased 2.6 ...

The Conference Board Consumer Confidence Index®, which had declined in May, decreased again in June. The Index now stands at 58.5 (1985=100), down from 61.7 in May. The Present Situation Index decreased to 37.6 from 39.3. The Expectations Index declined to 72.4 from 76.7 ...

Manufacturing activity in the central Atlantic region firmed somewhat in June after stalling in May, according to the Richmond Fed’s latest survey. The index of overall activity steadied as a slightly positive reading for new orders coupled with solid employment growth offset a slightly negative reading for shipments. Other indicators were ...

Data through April 2011, released today by S&P Indices for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, show a monthly increase in prices for the 10- and 20-City Composites for the first time in eight months. The 10- and 20-City Composites were up 0.8% and 0.7%, respectively, in April versus March. Both ...

After three weeks of weekly declines, retail sales finally “popped” giving retailers something to celebrate as they head into the last fiscal week of June. As a result, for the week ending June 25, weekly retail sales jumped sharply by 2.9 percent, according to the ICSC-Goldman Sachs Weekly Chain Store Sales Index. On a year-over-year basis ...

Texas factory activity expanded in June, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, remained positive but fell from 12.7 to 5.6, suggesting output growth slowed ...

Personal income increased $36.2 billion, or 0.3 percent, and disposable personal income (DPI) increased $29.2 billion, or 0.2 percent, in May, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $4.6 billion, or less than 0.1 percent. In April, personal income increased $37.7 billion, or 0.3 percent, ...

The Chicago Fed Midwest Manufacturing Index (CFMMI) increased 0.6% in May, to a seasonally adjusted level of 84.0 (2007 = 100). Revised data show the index decreased 0.9% in April to 83.6. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) increased 0.4% in May. Regional output in May rose 7.1% from a year ...

Consumer confidence slipped in June due to renewed concerns about the outlook for the economy. Falling gas prices acted to stabilize consumers’ assess-ments of current economic conditions (especially among lower income households), but heightened concerns about the outlook for the overall economy caused the Expectations Index (a component of ...

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 1.9 percent in the first quarter of 2011, (that is, from the fourth quarter to the first quarter), according to the "third" estimate released by the Bureau of Economic Analysis. In the ...

New orders for manufactured durable goods in May increased $3.6 billion or 1.9 percent to $195.6 billion, the U.S. Census Bureau announced today. This increase, up two of the last three months, followed a 2.7 percent April decrease. Excluding transportation, new orders increased 0.6 percent. Excluding defense, new orders increased 1.9 ...

Sales of new single-family houses in May 2011 were at a seasonally adjusted annual rate of 319,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 2.1 percent (±10.7%) below the revised April rate of 326,000, but is 13.5 percent (±13.6%) above the May ...

For the week ending June 11, 2011, the DJ-BTMU U.S. Business Barometer fell -0.6 percent, following a gain of +0.6 percent in the prior week. The overall index was dragged down by industrial components. Auto and truck production declined sharply, more than offsetting a big production jump in the prior week. On the consumption ...

In the week ending June 18, the advance figure for seasonally adjusted initial claims was 429,000, an increase of 9,000 from the previous week's revised figure of 420,000. The 4-week moving average was 426,250, unchanged from the previous week's revised average of 426,250.

The advance seasonally adjusted insured unemployment rate was 2.9 percent for the week ending June 11, unchanged from the prior week's unrevised rate of 2.9 percent. ...

Led by improvements in production-related indicators, the Chicago Fed National Activity Index increased to –0.37 in May from –0.56 in April. Two of the four broad categories of indicators that make up the index improved from April, but only the production and income category made a positive contribution to the index ...

Information received since the Federal Open Market Committee met in April indicates that the economic recovery is continuing at a moderate pace, though somewhat more slowly than the Committee had expected. Also, recent labor market indicators have been weaker than anticipated. The slower pace of the recovery reflects in part factors that ...

Employers took 1,599 mass layoff actions in May involving 143,540 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 involved at least 50 workers from a single employer. The number of mass layoff events in May ...

Mortgage applications decreased 5.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending June 17, 2011.

The Market Composite Index, a measure of mortgage loan application volume, decreased 5.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 6.2 percent compared with the previous week. The Refinance Index decreased 7.2 ...

Existing-home sales were down in May as temporary factors and financing problems weighed on the market, according to the National Association of Realtors®.

Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, fell 3.8 percent to a seasonally adjusted annual rate of 4.81 million in May from a downwardly revised 5.00 million in April, and are 15.3 percent below a ...

Despite the Fathers Day sales incentive consumers continued to hold back on their discretionary spending and gave retailers their second week of sales declines this past week. Overall, for the week ending June 18, weekly retail sales slipped by 0.7 percent, according to the ICSC-Goldman Sachs Weekly Chain Store Sales Index. On a ...

The Conference Board Leading Economic Index® (LEI) for the U.S. increased 0.8 percent in May to 114.7 (2004 = 100), following a 0.4 percent decline in April, and a 0.7 percent increase in March. The largest contributions came from the interest rate spread, consumer expectations, and ...

Responses to the Business Outlook Survey suggest that regional manufacturing activity weakened in June. The survey’s indicators for activity and new orders turned negative this month, while indicators for shipments and employment fell but remained slightly positive. Indicators for prices show a continuing trend of moderating price pressures. ...

For the week ending June 4, 2011, the DJ-BTMU U.S. Business Barometer rose +0.5 percent following a flat reading in prior week. The consumption side of the barometer showed mixed results. Inflation-adjusted chain store sales increased two weeks in a row, while seasonally-adjusted box office receipts and mortgage applications declined. On ...

BUILDING PERMITS
Privately-owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 612,000. This is 8.7 percent (±1.5%) above the revised April rate of 563,000 and is 5.2 percent (±2.4%) above the May 2010 estimate of 582,000. Single-family authorizations in May were at a rate of 405,000; this is ...

The U.S. current-account deficit—the combined balances on trade in goods and services, income, and net unilateral current transfers—increased to $119.3 billion (preliminary) in the first quarter of 2011, from $112.2 billion (revised) in the fourth quarter of 2010. The increase was more than accounted for by an increase in the deficit on ...

In the week ending June 11, the advance figure for seasonally adjusted initial claims was 414,000, a decrease of 16,000 from the previous week's revised figure of 430,000. The 4-week moving average was 424,750, unchanged from the previous week's revised average of 424,750.

The advance seasonally adjusted insured unemployment rate was 2.9 percent for the week ending June 4, unchanged from the prior week's unrevised rate of 2.9 percent. ...

After holding at a low but steady level for the past six months, builder confidence in the market for newly built, single-family homes declined three points in June to a reading of 13 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today. The last time the index was this low was in September ...

Industrial production edged up 0.1 percent in May, the second consecutive month with little or no gain. Revisions to total industrial production in months before May were small. In May, manufacturing production rose 0.4 percent after having fallen 0.5 percent in April. The output of motor vehicles and parts has been held down in the past ...

The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for April 2011. Net foreign purchases of long-term securities were $30.6 billion.

Net foreign purchases of long-term U.S. securities were $44.8 billion. Of this, net purchases by private foreign investors were $18.6 billion, and net purchases by foreign official institutions were $26.2 billion. U.S. residents purchased a net $14.2 billion of long-term ...

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent in May on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.6 percent before seasonal adjustment.

The index for all items less food and energy increased 0.3 percent in May, ...

Real average hourly earnings for all employees rose 0.1 percent from April to May, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This change stemmed from a 0.3 percent increase in average hourly earnings, partially offset by a 0.2 percent increase in the Consumer Price Index for All Urban ...

The Empire State Manufacturing Survey indicates that conditions for New York manufacturers deteriorated in June. The general business conditions index slipped below zero for the first time since November of 2010, falling twenty points to -7.8. The new orders and shipments indexes also posted steep declines and fell below zero. The index for ...

Mortgage applications increased 13.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending June 10, 2011.

The Market Composite Index, a measure of mortgage loan application volume, increased 13.0 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 24.5 percent compared with the previous week, which included Memorial Day. The ...

Sales. The U.S. Census Bureau announced today that the combined value of distributive trade sales and manufacturers’ shipments for April, adjusted for seasonal and trading-day differences but not for price changes, was estimated at $1,185.6 billion, up 0.1 percent (±0.2%) from March 2011 and up 11.0 percent (±0.5%) from ...

The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for May, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $387.1 billion, a decrease of 0.2 percent (±0.5%) from the previous month, but 7.7 percent (±0.7%) above May 2010. Total sales for ...

The Producer Price Index for finished goods rose 0.2 percent in May, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This advance followed increases of 0.8 percent in April and 0.7 percent in March. At the earlier stages of processing, prices received by manufacturers of intermediate goods climbed 0.9 percent in May, ...

After two consecutive weeks of sales improvement the rollercoaster ride for retailers returned as week-over-week retail sales slipped during this past week. Overall for the week ending June 11 weekly retail sales declined by 0.8 percent, according to the ICSC-Goldman Sachs Weekly Chain Store Sales Index. On a year-over-year basis retail ...

The Index of Small Business Optimism fell 0.3 points in May to 90.9. This month marks the third monthly decline in a row. The proximate cause is the fact that 1 in 4 owners still reports weak sales as their top business problem. Consumer spending is weak, especially for “services” a sector dominated by small businesses. Also, inflation is ...

U.S. import prices increased 0.2 percent in May, the U.S. Bureau of Labor Statistics reported today, after advancing 3.0 percent in March and 2.1 percent in April. A 0.2 percent drop in fuel prices partially offset higher nonfuel prices. U.S. export prices rose 0.2 percent in May following a 0.9 percent increase the ...

The U.S. Census Bureau announced today that April 2011 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 $393.5 billion, up 0.3 percent (+/-0.5%)* from the revised March level and were up 14.4 percent (+/-1.4%) ...

For the week ending May 28, 2011, the DJ-BTMU U.S. Business Barometer was flat following two consecutive weeks of declines. Seasonally-adjusted box office receipts increased, reversing the prior week’s loss, but inflation-adjusted chain store sales remained weak, up only slightly in the latest week, after dropping the previous two weeks. On ...

The Nation’s international trade deficit in goods and services decreased to $43.7 billion in April from $46.8 billion (revised) in March, as exports increased and imports decreased.

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total April exports of $175.6 billion and imports of $219.2 billion resulted in a goods and services deficit of $43.7 billion, down from $46.8 billion ...

In the week ending June 4, the advance figure for seasonally adjusted initial claims was 427,000, an increase of 1,000 from the previous week's revised figure of 426,000. The 4-week moving average was 424,000, a decrease of 2,750 from the previous week's revised average ...

Reports from the twelve Federal Reserve Districts indicated that economic activity generally continued to expand since the last report, though a few Districts indicated some deceleration. Some slowing in the pace of growth was noted in the New York, Philadelphia, Atlanta, and Chicago Districts. In contrast, Dallas characterized that ...