Building Permits
Privately‐owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,589,000. This is 7.7 percent (±0.9 percent) below the revised August rate of 1,721,000, but is virtually unchanged from (±1.1 percent)* the September 2020 rate of 1,589,000. Single‐family authorizations ...

The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for August 2021. The sum total in August of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a net TIC inflow of $91.0 billion. Of this, net foreign private inflows were $125.0 billion, and net ...

Strong consumer demand helped push builder confidence higher in October despite growing affordability challenges stemming from rising material prices and shortages. Builder sentiment in the market for newly built single-family homes moved four points higher to 80 in October, according to the National Association of Home Builders (NAHB)/Wells ...

Industrial production fell 1.3 percent in September after moving down 0.1 percent in August; output was previously reported to have risen 0.4 percent in August. In September, manufacturing output decreased 0.7 percent: The production of motor vehicles and parts fell 7.2 percent, as shortages of semiconductors continued to hobble operations, ...

The combined value of distributive trade sales and manufacturers’ shipments for August, adjusted for seasonal and trading day differences but not for price changes, was estimated at $1,652.4 billion, down 0.1 percent (±0.2 percent)* from July 2021, but was up 15.3 percent (±0.6 percent) from ...

Consumer sentiment has remained for the past three months at the lows first recorded in response to last year's shutdown of the economy. The Delta variant, supply chain shortages, and reduced labor force participation rates will continue to dim the pace of consumer spending into 2022. There is another, less tangible factor that has contributed ...

Business activity grew at a solid pace in New York State, according to firms responding to the October 2021 Empire State Manufacturing Survey. The headline general business conditions index fell fifteen points to 19.8, pointing to a slower pace of growth than last month. New orders and shipments increased, though by less than they did last ...

Prices for U.S. imports increased 0.4 percent in September, after decreasing 0.3 percent the previous month, the U.S. Bureau of Labor Statistics reported today. The advance in September was driven by higher fuel prices. U.S. export prices ticked up 0.1 percent in September following advances of 0.4 percent in August and 1.1 percent in ...

Advance estimates of U.S. retail and food services sales for September 2021, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $625.4 billion, an increase of 0.7 percent (±0.5 percent) from the previous month, and 13.9 percent (±0.7 percent) above September 2020. Total sales for the July ...

In the week ending October 9, the advance figure for seasonally adjusted initial claims was 293,000, a decrease of 36,000 from the previous week's revised level. This is the lowest level for initial claims since March 14, 2020 when it was 256,000. The previous week's level was revised up by 3,000 from 326,000 to 329,000. The 4-week moving ...

The Producer Price Index for final demand increased 0.5 percent in September, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices moved up 0.7 percent in August and 1.0 percent in July. On an unadjusted basis, the final demand index rose 8.6 percent for the 12 months ended in September, the largest ...

The Conference Board®−Burning Glass® Help Wanted OnLine® (HWOL) Index rose in September and now stands at 164.5 (July 2018=100), up from 159.7 in August. The 3.0 percent increase between August and September follows a 4.0 percent decrease between July and August. Overall, the Index is up 63.6 percent from a ...

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in September on a seasonally adjusted basis after rising 0.3 percent in August, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 5.4 percent before ...

All employees
Real average hourly earnings for all employees increased 0.2 percent from August to September, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This result stems from an increase of 0.6 percent in average hourly earnings combined with an increase of 0.4 percent in the Consumer Price Index for All ...

Mortgage applications increased 0.2 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending October 8, 2021.

The Market Composite Index, a measure of mortgage loan application volume, increased 0.2 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 0.4 percent compared with the previous week. The Refinance Index decreased 1 ...

The number of job openings declined to 10.4 million on the last business day of August following a series high in July, the U.S. Bureau of Labor Statistics reported today. Hires decreased to 6.3 million while total separations were little changed at 6.0 million. Within separations, the quits rate increased to a series high of 2.9 percent while ...

The NFIB Small Business Optimism Index decreased one point in September to 99.1. Three of the 10 Index components improved, five declined, and two were unchanged.

“Small business owners are doing their best to meet the needs of customers, but are unable to hire workers or receive the needed supplies and inventories,” said NFIB Chief Economist Bill Dunkelberg. “The outlook for economic policy is not encouraging to owners, as lawmakers ...

The Conference Board Employment Trends Index™ (ETI) fell marginally in September, the first decrease in seven months. The index now stands at 110.35, down from 110.68 (an upward revision) in June.

“The Employment Trends Index has flattened since July, suggesting it may be a few months before the pace of job growth regains the momentum of earlier this year,” said Gad Levanon, Head of The Conference Board Labor Markets Institute. “The chief culprit behind lagging job ...

Sales
August 2021 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 $595.5 billion, down 1.1 percent (±0.5 percent) from the revised July level, but were up 20.6 percent (±1.8 percent) from the revised August ...

Total nonfarm payroll employment rose by 194,000 in September, and the unemployment rate fell by 0.4 percentage point to 4.8 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in leisure and hospitality, in professional and business services, in retail trade, and in transportation and warehousing. Employment ...

In August, consumer credit increased at a seasonally adjusted annual rate of 4 percent. Revolving credit increased at an annual rate of 3.6 percent, while nonrevolving credit increased at an annual rate of 4.1 percent.

...

In the week ending October 2, the advance figure for seasonally adjusted initial claims was 326,000, a decrease of 38,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 362,000 to 364,000. The 4-week moving average was 344,000, an increase of 3,500 from the previous week's revised average. ...

Job cuts announced by U.S.-based employers rose 14% in September to 17,895 from the 24-year low of 15,723 cuts announced in August, according to a report released Thursday from global outplacement and business and executive coaching firm Challenger, Gray & Christmas, Inc.
September's total is 85% lower than the same month last year, when ...

Private sector employment increased by 568,000 jobs from August to September according to the September ADP® National Employment ReportTM.

“The labor market recovery continues to make progress despite a marked slowdown from the 748,000 job pace in the second quarter,” said Nela Richardson, chief economist, ADP. “Leisure and hospitality remains one of the biggest beneficiaries to the recovery, yet hiring is ...

Mortgage applications decreased 6.9 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending October 1, 2021.

The Market Composite Index, a measure of mortgage loan application volume, decreased 6.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 7 percent compared with the previous week. The Refinance Index decreased 10 ...

Economic activity in the services sector grew in September for the 16th month in a row, say the nation’s purchasing and supply executives in the latest Services ISM® Report On Business®.

The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management® (ISM®) Services Business Survey Committee: “The Services PMI® registered 61.9 percent, 0.2 percentage point higher than the reading of 61.7 percent in ...

Employment picture continues to improve for small business, but rates of growth have slowed. National job growth continued to tick upward in September, according to aggregated payroll data of approximately 350,000 clients provided by Paychex. The data released in the latest report of the Paychex | IHS Markit Small Business Employment Watch ...

The nation's international trade deficit in goods and services increased to $73.3 billion in August from $70.3 billion in July (revised), as imports increased more than exports. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $73.3 billion in August, up $2.9 billion from ...

Summary
New orders for manufactured goods in August, up fifteen of the last sixteen months, increased $6.2 billion or 1.2 percent to $515.7 billion, the U.S. Census Bureau reported today. This followed a 0.7 percent July increase. Shipments, also up fifteen of the last sixteen months, increased $0.3 billion or 0.1 percent to $508.3 billion. ...

Economic activity in the manufacturing sector grew in September, with the overall economy notching a 16th consecutive month of growth, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.

The report was issued today by Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee: ...

Although consumer sentiment edged upward in September, the overall gain still meant the continuation of depressed optimism, according to the University of Michigan Surveys of Consumers.

The relapse in consumer confidence was initially sparked by the Delta variant and supported by an upsurge in inflation and unfavorable long-term prospects for the economy, said U-M economist Richard Curtin, director of the surveys. ...

Personal income increased $35.5 billion (0.2 percent) in August according to estimates released today by the Bureau of Economic Analysis (tables 3 and 5). Disposable personal income (DPI) increased $18.9 billion (0.1 percent) and personal consumption expenditures (PCE) increased $130.5 billion ...

Total Construction
Construction spending during August 2021 was estimated at a seasonally adjusted annual rate of $1,584.1 billion, virtually unchanged from (±1.0 percent)* the revised July estimate of $1,584.0 billion. The August figure is 8.9 percent (±1.5 percent) above the August 2020 estimate of $1,455.0 billion. During the first eight ...

The Chicago Business BarometerTM, produced with MNI, slipped to 64.7 in September, the lowest level since February.

Among the main five indicators, Order Backlogs saw the largest decline, followed by Supplier Deliveries and New Orders. Only Employment increased through the month. ...

Real gross domestic product (GDP) increased at an annual rate of 6.7 percent in the second quarter of 2021 (table 1), according to the "third" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 6.3 percent. The "third" estimate of GDP released today is based on more complete source data than ...

In the week ending September 25, the advance figure for seasonally adjusted initial claims was 362,000, an increase of 11,000 from the previous week's unrevised level of 351,000. The 4-week moving average was 340,000, an increase of 4,250 from the previous week's unrevised average ...

Pending home sales rebounded in August, recording significant gains after two prior months of declines, according to the National Association of Realtors®. Each of the four major U.S. regions mounted month-over-month growth in contract activity. However, those same territories reported decreases in transactions year-over-year, with the ...

Mortgage applications decreased 1.1 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending September 24, 2021.

The Market Composite Index, a measure of mortgage loan application volume, decreased 1.1 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1 percent compared with the previous week. The Refinance Index decreased 1 ...

The Conference Board Consumer Confidence Index® declined again in September, following decreases in both July and August. The Index now stands at 109.3 (1985=100), down from 115.2 in August. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—fell to 143.4 from 148.9 last month. ...

Fifth District manufacturing activity softened slightly in September, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite index declined from 9 in August to −3 in September. The indexes for shipments and new orders fell below 0 for the first time since May 2020, but the third component index — employment ...

S&P Dow Jones Indices (S&P DJI) 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 July 2021 show that home prices continue to increase across the U.S.

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 19.7% annual gain in July, up from 18.7% in the previous month. The 10-City Composite annual increase came in at 19.1%, up from 18.5% in the ...

Texas factory activity continued to increase in September, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, rose three points to 24.2. The reading was well above average and indicative of solid ...

New Orders
New orders for manufactured durable goods in August increased $4.6 billion or 1.8 percent to $263.5 billion, the U.S. Census Bureau announced today. This increase, up fifteen of the last sixteen months, followed a 0.5 percent July increase. Excluding transportation, new orders increased 0.2 percent. Excluding defense, new ...

New Home Sales
Sales of new single‐family houses in August 2021 were at a seasonally adjusted annual rate of 740,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 1.5 percent (±15.1 percent)* above the revised July rate of 729,000, but is 24.3 percent ...

Tenth District manufacturing activity growth moderated slightly but remained solid, and expectations for future production increased further. The index of prices paid for raw materials continued to increase at record levels in September compared to a month ago and a year ago. Price indexes for finished goods also remained very high. ...

The Conference Board Leading Economic Index® (LEI)for theU.S. increased by 0.9 percent in August to 117.1 (2016 = 100), following a 0.8 percent increase in July and a 0.6 percent increase in June.

“The U.S. LEI rose sharply in August and remains on a rapidly rising trajectory,” said Ataman Ozyildirim, Senior Director of Economic Research at The Conference Board. “While the Delta variant—alongside rising inflation fears—could create headwinds for labor markets and the ...

Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) increased to +0.53 in July from –0.01 in June. Three of the four broad categories of indicators used to construct the index made positive contributions in July, and three categories improved from June. The index’s three-month moving ...

In the week ending September 18, the advance figure for seasonally adjusted initial claims was 351,000, an increase of 16,000 from the previous week's revised level. The previous week's level was revised up by 3,000 from 332,000 to 335,000. The 4-week moving average was 335,750, a decrease of 750 from the previous week's revised average. ...

Existing-home sales retreated in August, breaking two straight months of increases, according to the National Association of Realtors®. Each of the four major U.S. regions experienced declines on both a month-over-month and a year-over-year perspective.

Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, fell 2.0% from July to a seasonally adjusted annual rate of 5.88 million in August. Year-over-year, sales dropped 1.5% from a year ago (5.97 million in ...

Mortgage applications increased 4.9 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending September 17, 2021. The previous week's results included an adjustment for the Labor ...