Rising household wealth rather than resurgent jobs and wages was mainly responsible for the recent gains in consumer confidence. The June strength was concentrated among households with income above $75,000, with their confidence rising to its highest level since mid 2007. In contrast to the healthy gains in stocks and home values enjoyed by ...

The Chicago Business Barometer declined to 51.6 in June, the largest monthly drop since October 2008, and down from a 14-month high of 58.7 in May. The gyrations seen over the past few months are not typical for the Barometer and some of this might be attributable to the unseasonable ...

Tenth District manufacturing activity fell modestly after last month’s rebound, although producers’ expectations for future activity continued to increase. Some firms commented on production delays due to power outages, flooding, and shipment interruptions from recent regional storms. Most price indexes posted minimal changes ...

Pending home sales rose in May to the highest level since late 2006, implying a possible spark as mortgage interest rates began to rise, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, increased 6.7 percent to 112.3 in May from a downwardly revised 105.2 in April, and is 12.1 percent above May 2012 when it was 100.2; the data reflect contracts but not closings. ...

For the week ending June 15, 2013, the DJ-BTMU U.S. Business Barometer declined by 0.1 percent for the second consecutive week. Some production indexes advanced while consumption indexes decreased as well as last week. Chain Store Sales picked up by 0.3 percent following the loss in the prior week. Meanwhile, Railroad Freight Carloadings ...

In the week ending June 22, the advance figure for seasonally adjusted initial claims was 346,000, a decrease of 9,000 from the previous week's revised figure of 355,000. The 4-week moving average was 345,750, a decrease of 2,750 from the previous week's revised average ...

Personal income increased $69.4 billion, or 0.5 percent, and disposable personal income (DPI) increased $57.0 billion, or 0.5 percent, in May, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $29.0 billion, or 0.3 percent. In April, personal income increased $18.3 billion, or 0.1 percent, ...

The Chicago Fed Midwest Manufacturing Index (CFMMI) decreased 0.4% in May, to a seasonally adjusted level of 95.8 (2007 = 100). Revised data show the index was down 0.2% in April. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) moved up 0.2% in May. Regional output rose 4.2% in May from a year earlier, ...

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 1.8 percent in the first quarter of 2013 (that is, from the fourth quarter to the first quarter), according to the "third" estimate released by the Bureau of Economic Analysis. In the ...

Mortgage applications decreased 3.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending June 21, 2013.

The Market Composite Index, a measure of mortgage loan application volume, decreased 3.0 percent on a seasonally adjusted basis from one week earlier to the lowest level since November 2011. On an unadjusted basis, the Index decreased 3 percent compared with the previous ...

Sales of new single-family houses in May 2013 were at a seasonally adjusted annual rate of 476,000, 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 (±16.6%) above the revised April rate of 466,000 and is 29.0 percent (±17.5%) above the May ...

The Conference Board Consumer Confidence Index®, which had improved in May, increased again in June. The Index now stands at 81.4 (1985=100), up from 74.3 in May. The Present Situation Index increased to 69.2 from 64.8. The Expectations Index improved to 89.5 from 80.6 ...

Manufacturing activity in the central Atlantic region advanced moderately in June after contracting at a less pronounced rate in May, according to the Richmond Fed’s latest survey. All broad indicators — shipments, new orders and employment — landed in positive territory. Most other indicators showed similar notable improvement. District ...

Data through April 2013, released today by S&P Dow Jones Indices for its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, showed average home prices increased 11.6% and 12.1% for the 10- and 20-City Composites in the 12 months ending in April 2013. From March to April, the 10- and 20-City Composites rose 2.6% ...

New orders for manufactured durable goods in May increased $8.0 billion or 3.6 percent to $231.0 billion, the U.S. Census Bureau announced today. This increase, up three of the last four months, followed a 3.6 percent April increase. Excluding transportation, new orders increased 0.7 percent. Excluding defense, new orders increased 3.5 ...

U.S. chain-store sales rose 1.6 percent year on year for the week that ended on June 22, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. Weekly comparable-store sales rose by 1.1. percent, signaling the best performance in three weeks.

“Sales periods are not restated to match Father’s Day 2013 compared with 2012, which is a key reason for the weakness in the year-over-year pace in the latest week,” said Michael Niemira, ICSC's vice president of research and chief economist. ''However, it is likely that ...

Texas factory activity increased sharply in June, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, rose six points to 17.1, posting its highest reading in more than ...

Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) increased to –0.30 in May from –0.52 in April. Two of the four broad categories of indicators that make up the index increased from April, but only one of the four categories made a positive contribution to the index ...

Employers took 1,301 mass layoff actions in May involving 127,821 workers as measured by new filings for unemployment insurance benefits during the month, the U.S. Bureau of Labor Statistics reported today. (Data are seasonally adjusted.) Each mass layoff involved at least 50 workers from a single employer. Mass layoff events increased by 102 ...

The Conference Board Leading Economic Index® (LEI) for the U.S. increased 0.1 percent in May to 95.2 (2004 = 100), following a 0.8 percent increase in April, and a 0.3 percent decline in March.

Despite month-to-month volatility, the LEI’s six-month growth rate remains steady, suggesting that conditions in the economy remain resilient. Widespread gains in the leading indicators over the last six months suggest there is some upside potential for economic activity in ...

Existing-home sales improved in May and remain solidly above a year ago, while the median price continued to rise by double-digit rates from a year earlier, according to the National Association of Realtors®.

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 4.2 percent to a seasonally adjusted annual rate of 5.18 million in May from 4.97 million in April, and is 12.9 percent above the 4.59 ...

Manufacturing firms responding to the monthly Business Outlook Survey indicated that regional manufacturing activity increased this month. Most of the survey’s broadest current indicators were positive this month, suggesting an improvement in business conditions. The survey's indicators of future activity continue to suggest that firms ...

For the week ending June 8, 2013, the DJ-BTMU U.S. Business Barometer edged down by 0.2 percent following a flat reading in the prior week. Gains in consumption and decreases in production indexes virtually cancelled each other out. However Chain Store Sales dragged the barometer a bit further down, which declined by 2.7 percent and its ...

In the week ending June 15, the advance figure for seasonally adjusted initial claims was 354,000, an increase of 18,000 from the previous week's revised figure of 336,000. The 4-week moving average was 348,250, an increase of 2,500 from the previous week's revised average ...

Information received since the Federal Open Market Committee met in May suggests that economic activity has been expanding at a moderate pace. Labor market conditions have shown further improvement in recent months, on balance, but the unemployment rate remains elevated. Household spending and business fixed investment advanced, and the ...

Mortgage applications decreased 3.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending June 14, 2013.

The Market Composite Index, a measure of mortgage loan application volume, decreased 3.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 4 percent compared with the previous week. The Refinance Index decreased 3 ...

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 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 1.4 percent before seasonal adjustment.

The shelter index rose 0.3 percent and accounted for more than half of ...

Real average hourly earnings for all employees fell 0.2 percent in May, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This decrease stems from an unchanged average hourly earnings combined with an increase of 0.1 percent in the Consumer Price Index for All Urban ...

BUILDING PERMITS
Privately-owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 974,000. This is 3.1 percent (±0.9%) below the revised April rate of 1,005,000, but is 20.8 percent (±1.3%) above the May 2012 estimate of 806,000. Single-family authorizations in May were at a rate of 622,000; this ...

The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index edged up 0.3% in the week ended Saturday from the week before on a seasonally adjusted, comparable-store basis, as sales performance was mixed by store segment.

"During the past week, department, electronics and drug store sales posted notable improvement, but there were pockets of notable weakness too among dollar stores and wholesale clubs," said ICSC Chief Economist Michael Niemira. "Most other segments were a tad stronger or a ...

Builder confidence in the market for newly-built single-family homes hit a significant milestone in June, surging eight points to a reading of 52 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today. Any reading over 50 indicates that more builders view sales conditions as good ...

The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for April 2013. The sum total in April of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a monthly net TIC inflow of $12.7 billion. Of this, net foreign private inflows were $42.1 billion, and ...

The June 2013 Empire State Manufacturing Survey indicates that conditions for New York manufacturers improved modestly. The general business conditions index—the most comprehensive of the survey's measures—rose nine points to 7.8. Nevertheless, most other indicators in the survey fell. The new orders index slipped six points to -6.7, the ...

Industrial production was unchanged in May after having decreased 0.4 percent in April. In May, manufacturing production rose 0.1 percent after falling in each of the previous two months, and the output at mines increased 0.7 percent. The gains in manufacturing and mining were offset by a decrease of 1.8 percent in the output of utilities. At ...

The Producer Price Index for finished goods rose 0.5 percent in May, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Prices for finished goods fell 0.7 percent in April and 0.6 percent in March. At the earlier stages of processing, prices received by manufacturers of intermediate goods declined 0.1 percent in May, and ...

The U.S. current-account deficit—the combined balances on trade in goods and services, income, and net unilateral current transfers—increased to $106.1 billion (preliminary) in the first quarter of 2013 from $102.3 billion (revised) in the fourth quarter of 2012. The increase in the current-account deficit was accounted for by a decrease in ...

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 $1,267.9 billion, down 0.1 percent (±0.2) from March 2013, but were up 1.5 percent (±1.1) from ...

For the week ending June 1, 2013, the DJ-BTMU U.S. Business Barometer picked up slightly by 0.1 percent following a decrease of 0.4 percent in the prior week. Relatively-large declines in production indexes, especially in motor vehicle productions, were offset by gains of consumption indexes this week. Both Auto and Truck Production ...

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 $421.1 billion, an increase of 0.6 percent (±0.5%) from the previous month, and 4.3 percent (±0.7%) above May 2012. Total sales ...

Prices for U.S. imports declined 0.6 percent in May, the U.S. Bureau of Labor Statistics reported today, after a 0.7 percent drop the previous month. Falling fuel and nonfuel prices contributed to the decreases in both months. U.S. export prices fell 0.5 percent in May following declines of 0.7 percent in April and 0.5 percent ...

In the week ending June 8, the advance figure for seasonally adjusted initial claims was 334,000, a decrease of 12,000 from the previous week's unrevised figure of 346,000. The 4-week moving average was 345,250, a decrease of 7,250 from the previous week's unrevised average ...

Mortgage applications increased 5.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending June 7, 2013. Last week’s results included an adjustment for the Memorial Day holiday.

The Market Composite Index, a measure of mortgage loan application volume, increased 5.0 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 16 percent compared with the previous week. The Refinance Index increased 5 ...

There were 3.8 million job openings on the last business day of April, little changed from 3.9 million in March, the U.S. Bureau of Labor Statistics reported today. The hires rate (3.3 percent) and separations rate (3.2 percent) also were little changed in April. This release includes estimates of the number and rate of job openings, hires, ...

The U.S. Census Bureau announced today that April 2013 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 $416.6 billion, up 0.5 percent (+/-0.5%)* from the revised March level and were up 0.7 percent (+/-3.2%)* ...

U.S. chain-store sales rose 2.2 percent year on year for the week that ended on June 8, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. However, weekly comparable-store sales fell 2.7 percent as consumers' desire to shop waned, according ...

The NFIB Index of Small Business Optimism rose 2.3 points to 94.4. This is the second highest reading since the recession started but not one signaling strong economic growth. Pessimism about the economy and future sales did moderate, 8 of the 10 Index components gained, but planned job creation fell a point and reported job creation stalled ...

The Conference Board Employment Trends Index™ (ETI) increased slightly in May. The index now stands at 111.76, up from 111.11 (a downward revision) in April. The ETI figure for May is 3.0 percent higher than a year ago.

While the increase in the Employment Trends Index (ETI) in May erased the small declines of the previous two months, overall, the growth in the ETI has remained weak,” said Gad Levanon, Director of Macroeconomic Research at The Conference Board. “Taken together with other ...

Total nonfarm payroll employment increased by 175,000 in May, and the unemployment rate was essentially unchanged at 7.6 percent, the U.S. Bureau of Labor Statistics reported today. Employment rose in professional and business services, food services and drinking places, and ...

For the week ending May 25, 2013, the DJ-BTMU U.S. Business Barometer dropped by 0.4 percent following a slight pickup of 0.2 percent in the prior week. Consumption indexes dragged the barometer down this week and it reached the lowest since March 23. Railroad Freight Carloadings was down by 1.1 percent, offsetting the increase in the ...