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Industrial Production Eases In August 2014
Industrial production declined in August, dipping by a scant 0.1%, for that sector's first retreat in seven months. The setback was not only somewhat disappointing, but it was a little surprising, as well, with output having been expected to rise by 0.3% last month. Read more
Retail Sales Jump In August 2014
Earlier this morning, the U.S. Department of Commerce reported that Americans had stepped up their spending in August, as retail sales gained a solid 0.6%. That improvement was as expected. Encouragingly, the rise was off a somewhat higher base than originally thought, as July retail sales, which had been estimated to have shown no increase, were revised to indicate a modest uptick of 0.3%. Read more
The Labor Market Weakened Notably In August 2014
Just when it appeared as though everything was coming up roses for the nation's economy, the U.S. Labor Department threw some cold water on the party when it reported a little earlier this morning that non-farm payrolls had risen by just 142,000 last month. That tepid increase was well under the latest forecast gain of 225,000. Read more
Non-Manufacturing Activity Expands In August 2014
At 10:00 A.M. (EDT) this morning, we received a very encouraging report on non-manufacturing activity for the month of August. It marked the 55th consecutive month that economic activity in the services sector had grown. Read more
The Beige Book Indicates Further Economic Strengthening Over The Summer
The Federal Reserve's Beige Book, a panorama of the U.S. business outlook across the country, was issued earlier this afternoon, and it contained few surprises. Essentially, this compilation, which is used by the central bank to help it formulate monetary policy, noted that economic activity had picked up over the summer after hitting a soft patch early in the year. That softness had been largely due to weather-related issues. Read more
Manufacturing Activity Surges Ahead In August: September 2, 2014
The Institute for Supply Management reported a bit earlier this morning that manufacturing activity had surged ahead to its best level in almost three and a half years during August. That noted increase, to 59.0, was well above the forecast result of 56.8; was better than July's survey reading of 57.1; and was dramatically improved from the dividing line (of 50.0) between a growing manufacturing base and one that is contracting. Read more
GDP Growth Shows An Upward Revision For The Second Quarter
The nation's economy, initially estimated to have risen by a strong 4.0% in the second quarter of this year, has now seen that rate of increase revised modestly to the upside in a report issued earlier this morning. Specifically, this revision, the first of two such adjustments, indicated that the expansion proceeded at a 4.2% rate in the second quarter of 2014. Read more
Consumer Confidence Rises Again In August
The American economy is getting better and should get better still in the months to come, with that fact driven home nicely in the past hour when the Conference Board, a New York-based research organization, reported that its survey on consumer confidence had jumped ahead in August to a reading of 92.4. Forecasts had been for a slight dip from July's downwardly adjusted result of 90.3. Initially, the July metric had been estimated at 90.9. Read more
New Home Sales Weaken In July
Data issued within the past hour showed, in somewhat surprising fashion, that sales of new homes had faltered in July, coming in at an annualized rate of 412,000 properties sold. Expectations had been for an increase to 430,000 homes. June's total of new homes sold, meanwhile, was revised from an earlier estimated 406,000 to 422,000. May's total of homes sold also was revised upwards, as well, going from 442,000 to 454,000 residences. Read more
Existing Home Sales Climb in July 2014
A half-hour into the trading day, the investment community received another encouraging report on the U.S. housing market when the National Association of Realtors reported an increase in existing home sales for the month of July. The sales data come on the heels of Tuesday’s positive news on housing starts and building permits. Read more
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