Business activity continued to grow at a solid clip in New York State, according to firms responding to the September 2018 Empire State Manufacturing Survey. The headline general business conditions index showed ongoing strength, but moved down seven points to 19.0, pointing to a slower pace of growth than last month. New orders and shipments ...

The combined value of distributive trade sales and manufacturers’ shipments for July, adjusted for seasonal and trading-day differences but not for price changes, was estimated at $1,454.1 billion, up 0.2 percent (±0.1 percent) from June 2018 and was up 8.1 percent (±1.2 percent) from ...

Consumer sentiment posted a robust rise in early September, reaching 100.8, the second highest level since 2004-only behind the March 2018 reading of 101.4. Importantly, the gains were widespread across all major socioeconomic subgroups. The Expectations Index reached its highest level since July 2004, largely due to more favorable prospects ...

Industrial production rose 0.4 percent in August for its third consecutive monthly increase. Manufacturing output moved up 0.2 percent on the strength of a 4.0 percent rise for motor vehicles and parts; motor vehicle assemblies jumped to an annual rate of 11.5 million units, the strongest reading since April. Excluding the gain in motor ...

U.S. import prices declined 0.6 percent in August, the U.S. Bureau of Labor Statistics reported today, following a 0.1-percent decrease the previous month. Falling prices for both fuel and nonfuel imports contributed to the August decline. Prices for U.S. exports edged down 0.1 percent, after decreasing 0.5 percent in ...

Advance estimates of U.S. retail and food services sales for August 2018, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $509.0 billion, an increase of 0.1 percent (±0.4 percent)* from the previous month, and 6.6 percent (±0.5 percent) above August 2017. Total sales for the June ...

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent in August on a seasonally adjusted basis, the same increase as in July, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index rose 2.7 percent before ...

Real average hourly earnings for all employees increased 0.1 percent from July to August, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This result stems from a 0.4-percent increase in average hourly earnings combined with a 0.2-percent increase in the Consumer Price Index for All Urban ...

In the week ending September 8, the advance figure for seasonally adjusted initial claims was 204,000, a decrease of 1,000 from the previous week's revised level. This is the lowest level for initial claims since December 6, 1969 when it was 202,000. The previous week's level was revised up by 2,000 from 203,000 to 205,000. The 4-week ...

Reports from the Federal Reserve Districts suggested that the economy expanded at a moderate pace through the end of August. Dallas reported relatively brisk growth, while Philadelphia, St. Louis, and Kansas City indicated somewhat below average growth. Consumer spending continued to grow at a modest pace since the last report, and ...

The Producer Price Index for final demand declined 0.1 percent in August, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices were unchanged in July and increased 0.3 percent in June. On an unadjusted basis, the final demand index rose 2.8 percent for the 12 months ended ...

Mortgage applications fell 1.8% from last week, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending September 7, 2018. The MBA noted that this week's numbers include an adjustment for the Labor Day holiday. On an unadjusted basis, the Mortgage Composite Index dropped 13% from ...

The number of job openings was little changed at 6.9 million on the last business day of July, the U.S. Bureau of Labor Statistics reported today. Over the month, hires and separations were little changed at 5.7 million and 5.5 million, respectively. Within separations, the quits rate was little changed at 2.4 percent and the layoffs ...

July 2018 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 $505.6 billion, virtually unchanged (±0.2 percent)* from the revised June level, but were up 9.8 percent (±3.5 percent) from the July 2017 level. The ...

The NFIB Small Business Optimism Index soared to 108.8 in August, a new record in the survey’s 45-year history, topping the July 1983 highwater mark of 108. The record-breaking figure is driven by small business owners executing on the plans they’ve put in place due to dramatic changes in the nation’s ...

In July, consumer credit increased at a seasonally adjusted annual rate of 5 percent. Revolving credit increased at an annual rate of 1-1/2 percent, while nonrevolving credit increased at an annual rate of 6-1/2 percent.

...

The Conference Board Employment Trends Index™ (ETI) increased in August, after increasing in July. The index now stands at 110.88, up from 109.58 (a downward revision) in July. The change represents a 6.9 percent gain in the ETI compared to a year ago.

“The Employment Trends Index continues to accelerate, with this month’s year-over-year increase being the strongest since May 2012,” said Gad Levanon, Chief Economist, North America, at The Conference Board. “This supports our projections for strong economic growth in the ...

Total nonfarm payroll employment increased by 201,000 in August, and the unemployment rate was unchanged at 3.9 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, health care, wholesale trade, transportation and warehousing, ...

Nonfarm business sector labor productivity increased 2.9 percent during the second quarter of 2018, the U.S. Bureau of Labor Statistics reported today, as output increased 5.0 percent and hours worked increased 2.0 percent. (All quarterly percent changes in this release are seasonally adjusted annual rates.) From the second quarter of 2017 to ...

In the week ending September 1, the advance figure for seasonally adjusted initial claims was 203,000, a decrease of 10,000 from the previous week's unrevised level of 213,000. This is the lowest level for initial claims since December 6, 1969 when it was 202,000. The 4-week moving average was 209,500, a decrease of 2,750 from the previous ...

Private sector employment increased by 163,000 jobs from July to August according to the August ADP National Employment Report®.

“Although we saw a small slowdown in job growth the market remains incredibly dynamic,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Midsized businesses continue to be the engine of growth, adding nearly 70 percent of all jobs this month, ...

The pace of downsizing in August rose to the third-highest total for the year, as U.S.-based employers announced plans to cut 38,472 jobs, according to a report released Thursday by global outplacement and executive coaching firm Challenger, Gray & Christmas, Inc.

August’s job cut plans are the highest since March, when 60,357 cuts were recorded, and the third highest behind January’s total of 44,653. It is the third time this year that job cuts were higher than the corresponding month last year. ...

Online advertised vacancies decreased 46,300 to 4,605,200 in August, according to The Conference Board Help Wanted OnLine® (HWOL) Data Series,released today. The July Supply/Demand rate stands at 1.35 unemployed workers for each advertised vacancy, with a total of 1.6 million more unemployed workers than the number of advertised vacancies. ...

The nation's international trade deficit in goods and services increased to $50.1 billion in July from $45.7 billion in June (revised), as exports decreased and imports increased. July exports were $211.1 billion, $2.1 billion less than June exports. July imports were $261.2 billion, $2.2 billion more than ...

In August, New York City purchasing managers reported significant highs in Current Business Conditions and Current and Expected Revenues, according to the survey taken by the Institute for Supply Management-New York.

New York Metro
Current Business Conditions were at 76.5 in August, a new 12 year high over the 75.0 seen in July, but still
failing to surpass the 77.1 reported in November of 2006. The Six-Month Outlook rose to an 8 month high, coming in at 79.9 in August, up from 77.8 in ...

Mortgage applications decreased 0.1 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending August 31, 2018.

The Market Composite Index, a measure of mortgage loan application volume, decreased 0.1 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 2 percent compared with the previous week. The Refinance Index decreased 1 ...

Economic activity in the manufacturing sector expanded in August, and the overall economy grew for the 112th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.

The August PMI® registered 61.3 percent, an increase of 3.2 percentage points from the July reading of 58.1 percent. The New Orders Index registered 65.1 percent, an increase of 4.9 percentage points from the July reading of 60.2 percent. The Production Index registered ...

Total Construction
Construction spending during July 2018 was estimated at a seasonally adjusted annual rate of $1,315.4 billion, 0.1 percent (±1.5 percent)* above the revised June estimate of $1,314.2 billion. The July figure is 5.8 percent (±1.8 percent) above the July 2017 estimate of $1,242.8 billion. During the first seven months of ...

While the Paychex | IHS Markit Small Business Employment Watch for August shows a continued decrease in the rates of small business jobs and wage growth, it also reveals that weekly hours worked are on the rise. Down 0.12 percent in August to 99.22, the Small Business Jobs Index has fallen for three consecutive months and is 0.73 percent ...

Consumer sentiment has remained virtually unchanged despite more positive news about growth in the U.S. economy, according to the University of Michigan Surveys of Consumers.

Rather than more favorable assessments, consumers held slightly more negative views about the current state of the economy, said U-M economist Richard Curtin, director of the surveys. Indeed, the Current Conditions Index fell to its lowest level since November 2016. ...

The MNI Chicago Business Barometer slipped to a three-month low of 63.6 in August, down 1.9 points from July’s 65.5.

Firms’ operations continued to grow at a healthy pace in August, despite decelerating for the first time in five months. A softening in Supplier Deliveries, Order Backlogs and Employment offset gains in Production and New Orders, driving the decline in the Barometer. ...

Personal income increased $54.8 billion (0.3 percent) in July according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $52.5 billion (0.3 percent) and personal consumption expenditures (PCE) increased $49.3 billion ...

In the week ending August 25, the advance figure for seasonally adjusted initial claims was 213,000, an increase of 3,000 from the previous week's unrevised level of 210,000. The 4-week moving average was 212,250, a decrease of 1,500 from the previous week's unrevised average of 213,750. This is the lowest level for this average since December ...

Pending home sales stepped back in July and have now fallen on an annual basis for seven straight months, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, decreased 0.7 percent to 106.2 in July from 107.0 in June. With last month’s decline, contract signings are now down 2.3 percent year-over-year. ...

Real gross domestic product (GDP) increased at an annual rate of 4.2 percent in the second quarter of 2018 (table 1), according to the "second" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.2 percent.

The GDP estimate released today is based on more complete source data than were available for the "advance" estimate issued last month. In the advance estimate, the increase in real GDP was 4.1 percent. With this second estimate for the second quarter, the general picture ...

Mortgage applications decreased 1.7 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending August 24, 2018.

The Market Composite Index, a measure of mortgage loan application volume, decreased 1.7 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased three percent compared with the previous week. The Refinance Index decreased ...

The Conference Board Consumer Confidence Index® increased in August, following a modest increase in July. The Index now stands at 133.4 (1985=100), up from 127.9 in July. The Present Situation Index improved from 166.1 to 172.2, while the Expectations Index increased from 102.4 last month to 107.6 ...

Fifth District manufacturing activity expanded in August, according to results of the most recent survey from the Federal Reserve Bank of Richmond. The composite index rose from 20 in July to 24 in August, as all three components (shipments, new orders, and employment) increased. Respondents remained optimistic in August, expecting growth ...

S&P Dow Jones Indices today released the latest results for the S&P CoreLogic Case-Shiller Indices, the leading measure of U.S. home prices. Data released today for June 2018 shows that home prices continued their rise across the country over the last 12 months.

YEAR-OVER-YEAR
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 6.2% annual gain in June, down from 6.4% in the previous month. The 10-City Composite annual increase came in at 6.0%, down from 6.2% in the ...

New Orders
New orders for manufactured durable goods in July decreased $4.3 billion or 1.7 percent to $246.9 billion, the U.S. Census Bureau announced today. This decrease, down three of the last four months, followed a 0.7 percent June increase. Excluding transportation, new orders increased 0.2 percent. Excluding defense, new orders ...

Tenth District manufacturing activity expanded at a slightly slower pace in August, with the composite index dropping back to around the rates of growth that prevailed in late 2017 and early 2018. Expectations for future growth remained solid, despite continued concerns about trade and tariffs. Price indexes ...

New Home Sales
Sales of new single-family houses in July 2018 were at a seasonally adjusted annual rate of 627,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 1.7 percent (±14.7 percent)* below the revised June rate of 638,000, but is 12.8 percent ...

In the week ending August 18, the advance figure for seasonally adjusted initial claims was 210,000, a decrease of 2,000 from the previous week's unrevised level of 212,000. The 4-week moving average was 213,750, a decrease of 1,750 from the previous week's unrevised average ...

Existing-home sales subsided for the fourth straight month in July to their slowest pace in over two years, according to the National Association of Realtors®. The West was the only major region with an increase in sales last month.

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, decreased 0.7 percent to a seasonally adjusted annual rate of 5.34 million in July from 5.38 million in June. With last month’s decline, sales ...

Mortgage applications increased 4.2 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending August 17, 2018.

The Market Composite Index, a measure of mortgage loan application volume, increased 4.2 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased three percent compared with the previous week. The Refinance Index increased ...

Responses to the Nonmanufacturing Business Outlook Survey suggest that regional nonmanufacturing activity continued to expand in August. The firm-level index of general activity, new orders, and sales/revenues remained positive, and the firms continued to report overall increases in employment. Both price indicators remain elevated. ...

Building Permits
Privately-owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1,311,000. This is 1.5 percent (±1.3 percent) above the revised June rate of 1,292,000 and is 4.2 percent (±1.7 percent) above the July 2017 rate of 1,258,000. Single-family authorizations in July were at a rate ...

Growth in regional manufacturing activity slowed in August, according to results from this month’s Manufacturing Business Outlook Survey. All the broad indicators remained positive but fell from their readings in July. The survey’s respondents continued to indicate price increases for purchased inputs and their own manufactured products, but ...

In the week ending August 11, the advance figure for seasonally adjusted initial claims was 212,000, a decrease of 2,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 213,000 to 214,000. The 4-week moving average was 215,500, an increase of 1,000 from the previous week's revised average. ...

The combined value of distributive trade sales and manufacturers’ shipments for June, adjusted for seasonal and trading-day differences but not for price changes, was estimated at $1,452.2 billion, up 0.3 percent (±0.1 percent) from May 2018 and was up 8.2 percent (±1.2 percent) from ...

Builder confidence in the market for newly built single-family homes edged down one point to a solid 67 reading in August on the NAHB/Wells Fargo Housing Market Index.

“The good news is that builders continue to report strong demand for new housing, fueled by steady job and income growth along with rising household formations,” said NAHB chairman Randy Noel. “However, they are increasingly focused on growing affordability concerns, ...

Industrial production edged up 0.1 percent in July after rising at an average pace of 0.5 percent over the previous five months. Manufacturing production increased 0.3 percent, the output of utilities moved down 0.5 percent, and, after posting five consecutive months of growth, the index for mining declined 0.3 percent. At 108.0 percent of ...

Nonfarm business sector labor productivity increased 2.9 percent during the second quarter of 2018, the U.S. Bureau of Labor Statistics reported today, as output increased 4.8 percent and hours worked increased 1.9 percent. (All quarterly percent changes in this release are seasonally adjusted annual rates.) From the second quarter of 2017 to ...

Advance estimates of U.S. retail and food services sales for July 2018, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $507.5 billion, an increase of 0.5 percent (±0.4 percent) from the previous month, and 6.4 percent (±0.5 percent) above July 2017. Total sales for the May 2018 through ...

Business activity remained robust in New York State, according to firms responding to the August 2018 Empire State Manufacturing Survey. The headline general business conditions index climbed three points to 25.6. New orders and shipments grew strongly, and firms reported an increase in unfilled orders. Delivery times continued to lengthen, ...

Mortgage applications decreased 2.0 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending August 10, 2018.

The Market Composite Index, a measure of mortgage loan application volume, decreased 2.0 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 3 percent compared with the previous week. The Refinance Index remained ...

Prices for U.S. imports recorded no change in July, the U.S. Bureau of Labor Statistics reported today, after edging down 0.1 percent in June. Falling nonfuel prices in July offset higher fuel prices. U.S. export prices decreased 0.5 percent in July following a 0.2-percent increase in June. The July decline was driven by a drop in ...

The Small Business Optimism Index marked its second highest level in the survey’s 45-year history at 107.9, rising to within 0.1 point of the July 1983 record-high of 108. The July 2018 report also set new records in terms of owners reporting job creation plans and those with job openings. A seasonally-adjusted net 23 percent are planning ...

The outlook for growth in the U.S. economy over the next three years is mostly unchanged from that of three months ago, according to 38 forecasters surveyed by the Federal Reserve Bank of Philadelphia. The panel predicts real GDP will grow at an annual rate of 3.0 percent this quarter and 2.8 percent next quarter, unchanged from the estimates ...

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent in July on a seasonally adjusted basis after rising 0.1 percent in June, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index rose 2.9 percent before ...