Tag Archives: federal reserve
The Employment Cost Index (ECI), which is widely considered the “best” measure of overall wage gains by the Federal Reserve, disappointed in the second quarter. Fees and commissions, which buoyed first quarter gains, slowed fairly dramatically along with outlays for benefits
The overall economy expanded at a 2.3% pace in the second quarter after rising at an upwardly revised 0.6% pace in the first quarter. Benchmark revisions, which incorporate new data and attempt to deal with the first quarter seasonal problems, helped to smooth the path of growth in recent years.
Housing starts rebounded to a 1.174 million-unit pace in June, while the decline for May was slightly less than initially reported. Gains were concentrated in the multi-family market as builders are still rushing to meet what they see as a permanent shift by millennials to move to urban centers and delay marriage and having children; [...]
The index for industrial production rose 0.3% in June, slightly better than expected. Much of the increase, however, was concentrated in the utilities and mining sectors as opposed to manufacturing,
Retail sales dropped 0.3% in June, as a drop in vehicle sales contributed to weakness across the board. The only categories to post major gains were electronics and appliance stores sales, gasoline station sales, and spending at discount stores. Moreover, sales for the previous month, which had been relatively robust, were revised down slightly. This [...]
New York Federal Reserve Bank President William Dudley left September in play for liftoff in an interview with the Financial Times published on Sunday. His comments, however, were actually made on Friday, before Greece upped the ante further by punting the decision on reforms to a referendum after their next payment comes due at midnight [...]
New home sales accelerated to a 546,000-unit pace in May. This data not only beat expectations but also comes after a strong upward revision to April. Both the Northeast and West posted increases from April
Durable goods orders fell 1.8% in May and were revised down for the month of April. Much of the drop was driven by a sharp drop in aircraft orders, which are extremely volatile. The remainder, however, was a disappointment. The vehicle sector, which had been one of the bright spots for factory orders, flatlined in [...]
Existing home sales grew to 5.35 million on an annualized basis in May. That is the fastest pace of sales since November 2009 when sales were inflated by the temporary tax credit for first-time home buyers.
The Consumer Price Index (CPI) rose 0.4% in May, driven by a sharp increase in prices at the pump. The overall index, however, remained unchanged from a year ago