Texas Factory Activity Expanded for the Third Straight Month Texas factory activity expanded in the month for the third straight month, following the record contraction in the spring, according to the Federal Reserve Bank of Dallas Texas Manufacturing Outlook Survey results for August. Perceptions of broader business conditions improved; the general business activity index turned [...]
Builder Confidence Rose Sharply Builder confidence rose sharply, as evidenced by the surge in new-home sales. New home sales topped expectations in July, surging 13.9% to a 901,000-unit annual rate. Sales jumped in the more affordable areas. US consumer spending rose 1.9% in July... US Drill Rigs Running Increased Last Week There were 254 drill rigs [...]
Housing Starts Surged in July Housing starts surged 22.6% in July to a 1.496 million-unit pace. Single-family starts rose 8.2 percent while apartment building skyrocketed 56.7 percent. Empire State Manufacturing Reports Edge Up The Federal Reserve Bank of New York released its Empire State Manufacturing Survey for August 2020 and reports business activity edged slightly [...]
July retail Sales Increased July retail sales increased 1.2% in July, the third straight monthly increase, despite a rise in covid infections. Unemployment claims last week fell to less than 1 million for the first time since the pandemic hit the US in March. WAKE UP PEOPLE Chicago closed parts of the "Magnificent Mile" downtown [...]
Unemployment Fell in July Unemployment fell in July to 10.2% as 1.8 million jobs were added to the US economy amid a summer wave of coronavirus cases forcing states to backtrack on reopening. In July the Overall Economy Notched a Third Consecutive Month of Growth The Institute for Supply Management (ISM) released its July 2020 [...]
Existing Home Sales Rose 20.7% in June US existing home sales rose 20.7 percent in June as low mortgage rates and re-openings around the US helped push sales up from May. CFNAI Increased in June Led by improvements in production and employment related indicators, the Chicago Fed National Activity Index (CFNAI) increased to +4.11 in [...]
Texas Factory Activity Rebounded Strongly Texas factory activity rebounded strongly, according to the Federal Reserve Bank of Dallas released its Texas Manufacturing Outlook Survey for June and the business executives responding to the survey. The Production Index, a key measure of manufacturing conditions, climbed from -28.0 to 13.6, indicating moderate expansion in output. Other measures [...]
Surging New Home Sales in May Surging new home sales once again blew past expectations, rising 16.6% in May to a 676,000-unit pace. May consumer spending rose a record 8.2%, a sign the US economy is growing again. Fifth District Survey of Manufacturing Activity Reports Steady The Federal Reserve Bank of Richmond released its Fifth [...]
Record US Retail Sales in May Record US retail sales rose to 18% in May. Total spending remained below pre-pandemic spending...but it is certainly headed in the right direction. June Manufacturing Business Outlook Survey Reports Positive Indicators The Federal Reserve Bank of Philadelphia released its June Manufacturing Business Outlook Survey and reports current indicators for [...]
Small Business Optimism Index ROSE in May The NFIB Small Business Optimism Index ROSE 3.5 points to 94.4 in May. As expected, it remains below its level prior to covid, but the forward-looking components are improving as the economy re-opens, also as expected. Racism… I will confidently say that the great majority of Americans are [...]
