Economic activity in the services sector grew in January after contracting in December following 30 consecutive months of growth, with the Services PMI® registering 55.2 percent, say the nation's purchasing and supply executives in the latest Services ISM® Report ...

Total nonfarm payroll employment rose by 517,000 in January, and the unemployment rate changed little at 3.4 percent, the U.S. Bureau of Labor Statistics reported today. Job growth was widespread, led by gains in leisure and hospitality, professional and business services, and health care. Employment also increased in government, ...

Summary
New orders for manufactured goods in December, up four of the last five months, increased $10.0 billion or 1.8 percent to $552.5 billion, the U.S. Census Bureau reported today. This followed a 1.9 percent November decrease. Shipments, down two consecutive months, decreased $4.0 billion or 0.7 percent to $543.3 billion. This followed a ...

Nonfarm business sector labor productivity increased 3.0 percent in the fourth quarter of 2022, the U.S. Bureau of Labor Statistics reported today, as output increased 3.5 percent and hours worked increased 0.5 percent. (All quarterly percent changes in this release are seasonally adjusted annual rates.) From the same quarter a year ago, ...

In the week ending January 28, the advance figure for seasonally adjusted initial claims was 183,000, a decrease of 3,000 from the previous week's unrevised level of 186,000. The 4-week moving average was 191,750, a decrease of 5,750 from the previous week's unrevised average ...

U.S.-based employers announced 102,943 cuts in January, a 136% increase from the 43,651 cuts announced in December. It is 440% higher than the 19,064 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.
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Recent indicators point to modest growth in spending and production. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation has eased somewhat but remains elevated.

Russia's war against Ukraine is causing tremendous human and economic hardship and is contributing to elevated global uncertainty. The Committee is highly attentive to inflation risks. ...

Economic activity in the manufacturing sector contracted in January for the third 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: ...

The number of job openings increased to 11.0 million on the last business day of December, the U.S. Bureau of Labor Statistics reported today. Over the month, the number of hires and total separations changed little at 6.2 million and 5.9 million, respectively. Within separations, quits (4.1 million) and layoffs and discharges (1.5 ...

Total Construction
Construction spending during December 2022 was estimated at a seasonally adjusted annual rate of $1,809.8 billion, 0.4 percent (± 0.8 percent)* below the revised November estimate of $1,817.3 billion. The December figure is 7.7 percent (±1.2 percent) above the December 2021 estimate of ...

Private sector employment increased by 106,000 jobs in January and annual pay was up 7.3 percent year-over-year, according to the January ADP® National Employment ReportTM produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab ...

Mortgage applications decreased 9.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 27, 2023.

The Market Composite Index, a measure of mortgage loan application volume, decreased 9.0 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 decreased 7 ...

The Conference Board Consumer Confidence Index® decreased in January following an upwardly revised increase in December 2022. The Index now stands at 107.1 (1985=100), down from 109.0 in December (an upward revision). The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—increased to ...

The Chicago Business BarometerTM, produced with MNI, moderated by -0.8 points to 44.3 in January; the fifth consecutive month below 50. This follows a 7.2-point December rebound to signal a softer downturn.

• Production, Supplier Deliveries and Prices Paid increased over the month in January, with Production recording the strongest growth (albeit remaining below 50). All other subindexes weakened, led by a marked drop in Order Backlogs. ...

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 November 2022 show that home prices declined across the United States.

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 7.7% annual gain in November, down from 9.2% in the previous month. The 10-City Composite annual increase came in at 6.3%, down from 8.0% in ...

Compensation costs for civilian workers increased 1.0 percent, seasonally adjusted, for the 3-month period ending in December 2022, the U.S. Bureau of Labor Statistics reported today. Wages and salaries increased 1.0 percent and benefit costs increased 0.8 percent from ...

The rate of hourly wage growth for U.S. small businesses continued to decline to 4.66 percent year-over-year in January according to the latest Paychex | IHS Markit Small Business Employment Watch. Additionally, the one-month annualized earnings growth fell to 2.88 percent in January, the lowest level since December of 2020. The Small ...

Texas factory activity continued to increase but at a slower pace in January, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, came in at 16.6, an eight-month low but a reading still indicative of above-average ...

Pending home sales increased in December for the first time since May 2022 — following six consecutive months of declines — according to the National Association of Realtors®. The Northeast and Midwest recorded month-over-month reductions, while the South and West posted monthly gains. All four U.S. regions saw year-over-year decreases ...

Consumer sentiment lifted for the second straight month in January, rising 9% above December but remaining about 3% below a year ago, according to the University of Michigan Surveys of Consumers.

Easing inflation and strong incomes provided welcome support to the personal finances of American consumers and buoyed their views of current economic conditions, said U-M economist Joanne Hsu, director of the surveys. ...

Personal income increased $49.5 billion (0.2 percent) in December, according to estimates released today by the Bureau of Economic Analysis (tables 3 and 5). Disposable personal income (DPI) increased $49.2 billion (0.3 percent) and personal consumption expenditures (PCE) decreased $41.6 billion (0.2 percent). The PCE price index increased ...

Tenth District manufacturing activity was mostly flat, and expectations for future activity moderated slightly. Monthly survey price indexes saw minimal growth in January. Price indexes remained above year-ago levels for most firms, and many firms expected some slowing in price gains over the next ...

New Home Sales
Sales of new single‐family houses in December 2022 were at a seasonally adjusted annual rate of 616,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 2.3 percent (±18.5 percent)* above the revised November rate of 602,000, but is 26.6 ...

Real gross domestic product (GDP) increased at an annual rate of 2.9 percent in the fourth quarter of 2022 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.2 percent.

The GDP estimate released today is based on source data that are incomplete or subject to further revision by the source agency (refer to "Source Data for the Advance Estimate" on page 4). The "second" estimate for the fourth quarter, based on more complete data, will be ...

New Orders
New orders for manufactured durable goods in December, up four of the last five months, increased $15.3 billion or 5.6 percent to $286.9 billion, the U.S. Census Bureau announced today. This followed a 1.7 percent November decrease. Excluding transportation, new orders decreased 0.1 percent. Excluding defense, new orders increased ...

The Chicago Fed National Activity Index (CFNAI) edged up to –0.49 in December from –0.51 in November. Three of the four broad categories of indicators used to construct the index made negative contributions in December, but two categories improved from November. The index’s three-month moving average, CFNAI-MA3, decreased to –0.33 in December ...

In the week ending January 21, the advance figure for seasonally adjusted initial claims was 186,000, a decrease of 6,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 190,000 to 192,000. The 4-week moving average was 197,500, a decrease of 9,250 from the previous week's revised average. ...

Mortgage applications increased 7.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 20, 2023. This week’s results include an adjustment for the observance of Martin Luther King, ...

Fifth District manufacturing firms reported some deterioration in business conditions in January, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index fell noticeably into negative territory, decreasing from 1 in December to −11 in January. Each of its three component indexes: ...

Nonmanufacturing activity in the region expanded this month, according to the firms responding to the January Nonmanufacturing Business Outlook Survey. The indexes for general activity at the firm level, sales/revenues, new orders, and full-time employment all rose this month. The firms continued to report overall increases in both prices paid ...

The Conference Board Leading Economic Index® (LEI) for the U.S. decreased by 1.0 percent in December 2022 to 110.5 (2016=100), following a decline of 1.1 percent in November. The LEI is now down 4.2 percent over the six-month period between June and December 2022—a much steeper rate of decline than its 1.9 percent contraction over the ...

Existing-home sales retreated for the eleventh consecutive month in December, according to the National Association of Realtors®. Three of the four major U.S. regions recorded month-over-month drops, while sales in the West were unchanged. All regions experienced ...

Building Permits
Privately‐owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 1,330,000. This is 1.6 percent below the revised November rate of 1,351,000 and is 29.9 percent below the December 2021 rate of 1,896,000. Single‐family authorizations in December were at a rate of 730,000; this ...

In the week ending January 14, the advance figure for seasonally adjusted initial claims was 190,000, a decrease of 15,000 from the previous week's unrevised level of 205,000. The 4-week moving average was 206,000, a decrease of 6,500 from the previous week's unrevised average ...

Manufacturing activity in the region continued to decline overall, according to the firms responding to the January Manufacturing Business Outlook Survey. The survey's indicators for general activity, new orders, and shipments rose from last month, but the former two remained negative. The employment index rebounded. The firms reported ...

The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for November 2022. The sum total in November of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a net TIC inflow of $213.1 billion. Of this, net foreign private inflows were $212.7 billion, and ...

Overall economic activity was relatively unchanged since the previous report. Five Districts reported slight or modest increases in overall activity, six noted no change or slight declines, and one cited a significant decline. On balance, contacts generally expected little growth in the months ahead. Consumer spending increased slightly, with ...

The combined value of distributive trade sales and manufacturers’ shipments for November, adjusted for seasonal and trading day differences but not for price changes, was estimated at $1,838.2 billion, down 0.8 percent (±0.2 percent) from October 2022, but was up 7.4 percent (±0.4 percent) from ...

A modest drop in interest rates helped to end a string of 12 straight monthly declines in builder confidence levels, although sentiment remains in bearish territory as builders continue to grapple with elevated construction costs, building material supply chain disruptions and challenging ...

Industrial production decreased 0.7 percent in December and 1.7 percent at an annual rate in the fourth quarter. In December, manufacturing output fell 1.3 percent amid widespread declines across the sector. The index for utilities jumped 3.8 percent, as cold temperatures boosted the demand for heating, while the index for mining moved ...

The Producer Price Index for final demand declined 0.5 percent in December, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices advanced 0.2 percent in November and 0.4 percent in October. (See table A.) On an unadjusted basis, the index for final demand increased 6.2 percent in 2022 after rising ...

Advance estimates of U.S. retail and food services sales for December 2022, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $677.1 billion, down 1.1 percent (±0.5 percent) from the previous month, but up 6.0 percent (±0.7 percent) above December 2021. Total sales for the 12 months of ...

Mortgage applications increased 27.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 13, 2023. 

The Market Composite Index, a measure of mortgage loan application volume, increased 27.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 32 percent compared with the previous week. The Refinance Index increased 34 ...

Business activity contracted sharply in New York State, according to firms responding to the January 2023 Empire State Manufacturing Survey. The headline general business conditions index fell twenty-two points to -32.9. New orders and shipments declined substantially. Delivery times held steady, and inventories edged higher. Employment ...

Consumer sentiment remained low from a historical perspective but continued lifting for the second consecutive month, rising 8% above December and reaching about 4% below a year ago. Current assessments of personal finances surged 16% to its highest reading in eight months on the basis of higher incomes and easing inflation. Although the ...

Prices for U.S. imports increased 0.4 percent in December, after declining 0.7 percent in November, the U.S. Bureau of Labor Statistics reported today. Higher nonfuel prices and fuel prices contributed to the December advance. U.S. export prices fell 2.6 percent in December following a 0.4-percent decrease the ...

The Consumer Price Index for All Urban Consumers (CPI-U) declined 0.1 percent in December on a seasonally adjusted basis, after increasing 0.1 percent in November, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 6.5 percent before ...

All employees
Real average hourly earnings for all employees increased 0.4 percent from November to December, 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 a decrease of 0.1 percent in the Consumer Price Index for All ...

In the week ending January 7, the advance figure for seasonally adjusted initial claims was 205,000, a decrease of 1,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 204,000 to 206,000. The 4-week moving average was 212,500, a decrease of 1,750 from the previous week's revised average. The ...

The Conference Board®−Lightcast® Help Wanted OnLine® (HWOL) Index fell in December to 157.1 (July 2018=100), down from 158.8 in November. The 1.1 percent decrease between November and December follows a 0.5 percent decrease between October and November. Overall, the Index is down 9.6 percent from a ...