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Nonmanufacturing Activity Advances In June
At 10:00 A.M. (EDT) this morning, we received another encouraging report on the U.S. economy when the Institute for Supply Management reported data on nonmanufacturing activity for the month of June. It marked the 65th consecutive month that economic activity in the services sector had grown. Read more
Manufacturing Activity Perks Up A Bit In June
The second half begins with a late first-half burst of strength. On point, just days after figures were released confirming increases in housing activity, personal income, and consumer confidence comes word of a somewhat better showing on the manufacturing front as the opening six months concluded. Read more
Consumer Confidence Surges Anew In June
Americans continue to be generally satisfied with their economic prospects, it would seem, at least according to data issued this morning by the U.S. Conference Board. On point, this research organization's Consumer Confidence Index jumped to a reading of 101.4 in this now-concluding month. Read more
Final GDP Revision Shows Less Of A First-Quarter Contraction
The Commerce Department issued its second, and final, revision of the first-quarter gross domestic product, and the comparative improvement was as expected. Specifically, after earlier estimating that the period's GDP had contracted by 0.7%, more definitive source data suggested that the contraction had been a less steep 0.2%. Read more
New Home Sales Edge Up In May
One day after the release of a report by the National Association of Realtors affirming that sales of existing homes had risen to a five-and-a-half-year high in May comes word that new home sales, a far smaller and much more volatile series, had shown a modest increase last month. Read more
Existing Home Sales Rebound Nicely In May
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, the nation’s largest trade association, reported a nice sequential rebound and an overall strong gain in existing home sales for the month of May. Read more
The Federal Reserve Holds The Line In Interest Rates
The Federal Reserve concluded its latest FOMC meeting within the past hour and, as expected, voted to keep the federal funds rate, which it controls directly, at near zero, where it has been for a number of years. That easy rate structure follows the unprecedented downturn in so many sectors, especially housing, but also including the equity market. Read more
Housing Starts Weaken, But Permits Soar In May
U.S. housing starts eased back somewhat in May, on a month-to-month basis, coming in at an annualized rate of 1,036,000 homes last month. That was down from 1,165,000 homes started in April. However, this latest total was still 5.1% ahead of the May, 2014 housing starts level of 986,000 units. Read more
Industrial Production and Factory Utilization Disappoint
U.S. industrial output dipped in May, with that index showing a decline of 0.2% for the latest month. Expectations had been for an increase of 0.2%. Worse, results for April were revised downward from a decline of 0.3% to a setback of 0.5%. Read more
Retail Sales Strengthen In May
Retail sales, which initially had shown no increase at all in April, were revised upward to indicate a modest 0.2% advance. However, that was not the big story to emerge this morning at the retail counter. Rather, it was the report showing that retail spending had risen by a strong 1.2% in May. Read more
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