The number of job openings decreased to 9.6 million on the last business day of March, the U.S. Bureau of Labor Statistics reported today. Over the month, the number of hires and total separations were little changed at 6.1 million and 5.9 million, respectively. Within separations, quits (3.9 million) changed little, while layoffs and ...

Summary
New orders for manufactured goods in March, up following two consecutive monthly decreases, increased $4.9 billion or 0.9 percent to $539.0 billion, the U.S. Census Bureau reported today. This followed a 1.1 percent February decrease. Shipments, down four of the last five months, decreased $0.6 billion or 0.1 percent to $539.9 ...

Small business hourly earnings growth over the past 12 months declined again in April to 4.52 percent according to the Paychex | IHS Markit Small Business Employment Watch. After increasing every month in 2023, the Small Business Jobs Index, which measures the change in national employment growth for businesses with less than 50 ...

Total Construction
Construction spending during March 2023 was estimated at a seasonally adjusted annual rate of $1,834.7 billion, 0.3 percent (±0.5 percent)* above the revised February estimate of $1,829.6 billion. The March figure is 3.8 percent (±1.2 percent) above the March 2022 estimate of $1,768.2 billion. During the first three months ...

Economic activity in the manufacturing sector contracted in April for the sixth consecutive month following a 28-month period 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: ...

Consumer sentiment was essentially unchanged this month, edging up less than two index points from March, according to the University of Michigan Surveys of Consumers.

Sentiment is now about 3% below a year ago but 27% above the all-time low from last June. Sentiment rose for lower-income consumers, offsetting declines among those with higher incomes. Buying conditions for durables surged 11% due to improvements in affordability, said U-M ...

The Chicago Business Barometer™, produced with MNI, inched up by 0.2 points to 43.8 in March. Despite increasing for the first time since December 2022, the headline index signaled a seventh consecutive month of contractionary business activity in March.

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Compensation costs for civilian workers increased 1.2 percent, seasonally adjusted, for the 3-month period ending in March 2023, the U.S. Bureau of Labor Statistics reported today. Wages and salaries increased 1.2 percent and benefit costs increased 1.2 percent from December ...

Tenth District manufacturing activity declined moderately in April, while expectations for future activity remained positive. Price indexes increased versus last month but decreased from the previous year and are not expected to change significantly over the next ...

Pending home sales decreased in March for the first time since November 2022, according to the National Association of REALTORS®. Three U.S. regions posted monthly losses, while the South increased. All four regions saw year-over-year declines in transactions.

The Pending Home Sales Index (PHSI) – a forward-looking indicator of home sales based on contract signings – waned by 5.2% to 78.9 in March. Year over year, pending transactions dropped by 23.2%. An index of 100 is equal to the level of contract activity in 2001. ...

Real gross domestic product (GDP) increased at an annual rate of 1.1 percent in the first quarter of 2023 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.6 percent.

The increase in real GDP reflected increases in consumer spending, exports, federal government spending, state and local government spending, and nonresidential fixed investment that were partly offset by decreases in private inventory investment and residential fixed ...

In the week ending April 22, the advance figure for seasonally adjusted initial claims was 230,000, a decrease of 16,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 245,000 to 246,000. The 4-week moving average was 236,000, a decrease of 4,000 from the previous week's revised average. The ...

New Orders
New orders for manufactured durable goods in March, up following two consecutive monthly decreases, increased $8.6 billion or 3.2 percent to $276.4 billion, the U.S. Census Bureau announced today. This followed a 1.2 percent February decrease. Excluding transportation, new orders increased 0.3 percent. Excluding defense, new ...

Mortgage applications increased 3.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 21, 2023.

The Market Composite Index, a measure of mortgage loan application volume, increased 3.7 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 5 percent compared with the previous week. The Refinance Index increased 2 ...

New Home Sales
Sales of new single‐family houses in March 2023 were at a seasonally adjusted annual rate of 683,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 9.6 percent (±15.2 percent)* above the revised February rate of 623,000, but is 3.4 percent ...

The Conference Board Consumer Confidence Index® fell in April to 101.3 (1985=100), down from 104.0 in March. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—increased to 151.1 (1985=100) from 148.9 last month. The Expectations Index—based on consumers’ short-term outlook for ...

Fifth District manufacturing firms reported deterioration in business conditions in April, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index fell from −5 in March to −10 in April. Two of its three component indexes — shipments and new orders — declined. The shipments index dropped ...

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 February 2023 show a modest increase in our national composites, although eight of the 20 major metro markets reported ...

Responses to the April Nonmanufacturing Business Outlook Survey suggest continued weakening in nonmanufacturing activity in the region. The indexes for general activity at the firm level, sales/revenues, and new orders all declined. Both price indexes remain somewhat elevated, and the respondents continue to anticipate growth over the next ...

Texas factory activity was flat in April after growing modestly in March, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, inched down from 2.5 to 0.9, with the near-zero reading suggestive of no change in output from ...

The Chicago Fed National Activity Index (CFNAI) was unchanged at –0.19 in March. Three of the four broad categories of indicators used to construct the index made negative contributions in March, and two categories deteriorated from February. The index’s three-month moving average, CFNAI-MA3, increased to +0.01 in March from –0.09 ...

The Conference Board Leading Economic Index® (LEI) for the U.S. fell by 1.2 percent in March 2023 to 108.4 (2016=100), following a decline of 0.5 percent in February. The LEI is down 4.5 percent over the six-month period between September 2022 and March 2023—a steeper rate of decline than its 3.5 percent contraction over the previous six ...

Existing-home sales edged lower in March, according to the National Association of Realtors®. Month-over-month sales declined in three out of four major U.S. regions, while sales in the Northeast remained steady. All regions posted year-over-year decreases.

Total existing-home sales,– completed transactions that include single-family homes, townhomes, condominiums and co-ops – fell 2.4% from February to a seasonally adjusted annual rate of 4.44 million in March. Year-over-year, sales waned 22.0% (down from 5.69 million in ...

Manufacturing activity in the region continued to decline overall in April, according to the firms responding to this month's Manufacturing Business Outlook Survey. The survey's broad indicators for activity remained negative, although the indexes for new orders and shipments rose. The employment index suggests steady employment overall. ...

In the week ending April 15, the advance figure for seasonally adjusted initial claims was 245,000, an increase of 5,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 239,000 to 240,000. The 4-week moving average was 239,750, a decrease of 500 from the previous week's revised average. The ...

Overall economic activity was little changed in recent weeks. Nine Districts reported either no change or only a slight change in activity this period while three indicated modest growth. Expectations for future growth were mostly unchanged as well; however, two Districts saw outlooks deteriorate. Consumer spending was generally seen as flat ...

The Conference Board−Lightcast Help Wanted OnLine® (HWOL) Index rose in March to 170.1 (July 2018=100), up from 167.9 in February. The 1.3 percent increase between February and March follows a 1.7 percent increase between January and February. However, the Index is down 7.3 percent overall from one ...

Mortgage applications decreased 8.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 14, 2023.

The Market Composite Index, a measure of mortgage loan application volume, decreased 8.8 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 8 percent compared with the previous week. The Refinance Index decreased 6 ...

Building Permits
Privately‐owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1,413,000. This is 8.8 percent below the revised February rate of 1,550,000 and is 24.8 percent below the March 2022 rate of 1,879,000. Single‐family authorizations in March were at a rate of 818,000; this is ...

The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for February 2023. The sum total in February of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a net TIC inflow of $28.0 billion. Of this, net foreign private outflows were $37.4 billion, and ...

Builders remained cautiously optimistic in April as limited resale inventory helped to increase demand in the new home market even as the industry continues to grapple with building material issues.

Builder confidence in the market for newly built single-family homes in April rose one point to 45, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released today. ...

Business activity increased in New York State for the first time in five months, according to firms responding to the April 2023 Empire State Manufacturing Survey. The headline general business conditions index shot up thirty-five points to 10.8. New orders and shipments surged. Delivery times held steady, and inventories moved higher. Despite ...

The combined value of distributive trade sales and manufacturers’ shipments for February, adjusted for seasonal and trading day differences but not for price changes, was estimated at $1,817.9 billion, virtually unchanged (±0.1 percent)* from January 2023, but was up 3.3 percent (±0.4 percent) from ...

Consumer sentiment was essentially unchanged this month, inching up less than two index points from March. Sentiment is now about 3% below a year ago but 27% above the all-time low from last June. Rising sentiment for lower-income consumers was offset by declines among those with higher incomes. While consumers have noted the easing of ...

Industrial production rose 0.4 percent in March and was little changed in the first quarter, increasing at an annual rate of 0.2 percent. In March, manufacturing and mining output each fell 0.5 percent. The index for utilities jumped 8.4 percent, as the return to more seasonal weather after a mild February boosted the demand for heating. At ...

U.S. import prices decreased 0.6 percent in March following a 0.2-percent decline in February, the U.S. Bureau of Labor Statistics reported today. Lower prices for fuel and nonfuel imports each contributed to the March drop in U.S. import prices. Prices for U.S. exports fell 0.3 percent in March, after increasing 0.4 percent in February and ...

Advance estimates of U.S. retail and food services sales for March 2023, adjusted for seasonal variation
and holiday and trading-day differences, but not for price changes, were $691.7 billion, down 1.0 percent
(±0.5 percent) from the previous month, but up 2.9 percent (±0.7 percent) above March 2022. Total sales
for the January 2023 through ...

The Producer Price Index for final demand declined 0.5 percent in March, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices were unchanged in February and increased 0.4 percent in January. On an unadjusted basis, the index for final demand advanced 2.7 percent for the 12 months ended in ...

In the week ending April 8, the advance figure for seasonally adjusted initial claims was 239,000, an increase of 11,000 from the previous week's unrevised level of 228,000. This is the highest level for initial claims since January 15, 2022 when it was 251,000. The 4-week moving average was 240,000, an increase of 2,250 from the previous ...

The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1 percent in March on a seasonally adjusted basis, after increasing 0.4 percent in February, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 5.0 percent before ...

All employees
Real average hourly earnings for all employees increased 0.2 percent from February to March, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This result stems from an increase of 0.3 percent in average hourly earnings combined with an increase of 0.1 percent in the Consumer Price Index for All Urban ...

Mortgage applications increased 5.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 7, 2023.

The Market Composite Index, a measure of mortgage loan application volume, increased 5.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 6 percent compared with the previous week. The Refinance Index increased 0.1 ...

NFIB’s Small Business Optimism Index decreased 0.8 points in March to 90.1, marking the 15th consecutive month below the 49-year average of 98. Twenty-four percent of owners reported inflation as their single most important business problem, down four points from last month. Small business owners expecting better business conditions over the ...

February 2023 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 $669.5 billion, up 0.4 percent (±0.4 percent)* from the revised January level and were up 1.3 percent (±0.9 percent) from the revised February ...

The Conference Board Employment Trends Index™ (ETI) March to 116.24, down from a downwardly revised 116.75 in February 2023. The Employment Trends Index is a leading composite index for employment. When the index increases, employment is likely to grow as well, and vice versa. Turning points in the index indicate that a turning point in the ...

In February, consumer credit increased at a seasonally adjusted annual rate of 3.8 percent. Revolving credit increased at an annual rate of 5 percent, while nonrevolving credit increased at an annual rate of 3.4 percent.

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Total nonfarm payroll employment rose by 236,000 in March, and the unemployment rate changed little at 3.5 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in leisure and hospitality, government, professional and business services, and health ...

In the week ending April 1, the advance figure for seasonally adjusted initial claims was 228,000, a decrease of 18,000 from the previous week's revised level. The previous week's level was revised up by 48,000 from 198,000 to 246,000. The 4-week moving average was 237,750, a decrease of 4,250 from the previous week's revised average. The ...

U.S.-based employers announced 89,703 cuts in March, up 15% from the 77,770 announced in February. It is up 319% from the 21,387 cuts announced in the same month in 2022, according to a report released Thursday from global outplacement and business and executive coaching firm Challenger, Gray & Christmas, Inc.
March's total marks the third ...

Economic activity in the services sector expanded in March for the third consecutive month as the Services PMI® registered 51.2 percent, say the nation's purchasing and supply executives in the latest Services ISM® Report On Business®. The sector has grown in 33 of the last 34 months, with the lone contraction ...