Retail Sales Increased
February 4, 2011
The monthly composite index of manufacturing activity as reported by the Institute for Supply Management increased to 57 in the month of December after seeing 56.6 in the month of November. Any reading higher than 50 is a sign of expansion making this the 17th straight month of seeing expansion.
Total construction spending increased 0.4 percent to $810.2 billion in the month of November after seeing a 0.7 percent rise in the month of October. Economists had believed a rise of 0.1 percent would be seen in the month of November.
Retail sales increased 0.4 percent for the week that ended on January 1 as reported by the ICSC-Goldman Sachs index. On a year-over-year basis, retailers saw sales increase 3.6 percent.
Factory orders increased 0.7 percent in the month of November to a seasonally adjusted $424.5 billion after seeing a fall of 0.7 percent in the month of October. Not including the volatile transportation sector, orders increased 2.4 percent.
The Mortgage Bankers Association announced its seasonally adjusted composite index of mortgage applications for the week that ended on December 31 increased 2.3 percent, while refinancing applications rose 3.9 percent and purchase volume decreased 0.8 percent.
The Institute for Supply Management announced that the monthly composite index of non-manufacturing activity increased to 57.1 in the month of December from 55 in the month of November. Any reading higher than 50 is a sign of expansion making this the 12th straight month of seeing expansion in the services sector which is the fastest pace seen since May of 2006.
First unemployment claim benefits increased by 18,000 to 409,000 for the week that ended on January 1, while continuing claims for the week that ended on December 25 decreased by 47,000 to 4.1 million. The unemployment rate decreased to 9.4% in the month of December from 9.8 percent in the month of November.
Upcoming reports on the economic calendar
January 11 – wholesale trade
January 13 – wholesale inflation
January 14 – consumer inflation
January 14 – retail sales
Construction Spending Increased
November 19, 2010
The monthly composite index of manufacturing activities as reported by the Institute for Supply Management was 56.9 for the month of October after seeing a 54.4 for the month of September. Economists believed the figure would have been at 54.5. All readings above 50 are a sign of expansion. This was the 15th month in a row that expansion was seen.
Construction spending increased 0.5 percent to $801.7 billion for the month of September after seeing a decrease in August of 0.2 percent. Economist had thought a 0.5 percent decrease would be seen in the month of September.
The seasonally adjusted composite index of mortgage applications as reported by the Mortgage Bankers Association for the week that ended on October 29 decreased 5 percent, refinancing applications fell 6.4 percent, and purchase volume increased 1.4 percent.
In September, factory orders increased 2.1 percent to be at a seasonally adjusted amount of $420 billion after a decrease in the month of August of 0.5 percent. The increase was due to an increase in the demand of commercial aircraft of 15.8 percent. Not including volatile transportation sector orders increased 0.4 percent.
the monthly composite index of non-manufacturing activity as reported by the Institute for Supply Management reported increased to 54.3 in the month of October after seeing 53.2 in the month of September. All readings above 50 are a sign of expansion.
The National Association of Realtors stated pending homes sales index, which is look at signed contracts for the future, decreased 1.8 percent in the month of September after a 4.4 rise in the month of August. On a year-over-year basis, pending sales are down close to twenty five percent.
First claims for unemployment benefits increased by 20,000 to 457,000 for the week that ended on October 30, while continuing claims for the week that ended on October 23 decreased by 42,000 to 4.34 million, which is the lowest level since the recovery began. Non-farm payroll employment rose by 151,000 in the month of October, which is quite a bit higher than the anticipated, which was 60,000.
Economic Calendar reports upcoming
Construction Spending Up in June
August 13, 2010
Total construction spending increased 0.1 percent to $836 billion in June after a decreased $834.8 billion in May after revision. Economists believed a drop in June of 0.8 percent would occur.
The monthly composite index of manufacturing activity was lower in July at 55.5 after a reading of 56.2 in June as reported by the Institute for Supply Management. Any reading above 50 is a sign of expansion but below this number indicates a negative atmosphere. This was the twelfth month in a row of expansion.
Orders from factories decreased in June by 1.2 percent to a seasonally adjusted amount of $406.4 billion. The decrease was over the double that economists had suggested of 0.5 percent with a decrease in May of 1.8 percent.
Pending home sales index reported by the National Association of Realtors, which shows a forward looking indicator based on the contracts signed decreased in June 2.6 percent after a decrease in May of 30 percent. On a year over year basis, the index is down 18.6 percent.
The seasonally adjusted composite index of mortgage applications for the week that ended on July 30 as reported by the Mortgage Bankers Association was up 1.3 percent. Applications for refinancing increased 1.3 percent and purchase volume was up 1.5 percent.
The monthly composite index of non-manufacturing activity as reported by the Institute for Supply Management increased to 54.3 in July from 53.8 in June. Once again, any reading above 50 indicates expansion. This was the 7th month of growth in a row. Economists had estimated a reading of 53.
First claims for unemployment benefits increased by 19,000 claims to 479,000 for the week that ended on July 31. Those receiving claims for the week that ended on July 24 decreased by 34,000 to 4.54 million. The unemployment rate stayed the same in July at 9.5 percent.
Economic reports coming up include wholesale trade – August 10, international trade – August 11, and retail sales – August 13.
Home Pending Sales Up Over 22 Percent
June 7, 2010
The pending home sales index reported by the National Association of Realtors showed a forward-looking indicator, which is based on contracts signed increased 6% for the month of April following a revised increase in March of 7.1%. On a year-over-year basis, showed pending sales are up 22.4%.
The monthly composite index of manufacturing activity was at 59.7 in May as reported by the Institute for Supply Management following 60.4 in April. Any reading above 50 is a sign of expansion. This was a 10th month of expansion in a row.
Total construction spending increased 2.7 percent in April to $869 billion after an increase in March of 0.4 percent. The gain in April was the highest seen since August of 2008.
Factors orders increased in April 1.2% which was below the economists expectation of 1.8%. On the good note, it was the 8th month in a row a gain was seen after a 1.7% in March.
The monthly composite index of non-manufacturing activity was 55.4 in May as reported by the Institute for Supply Management as it was in April. Any reading above 50 is a sign of expansion. Economists believed a reading of 55.6 would occur, but with this reading, this was the 5th month in a row for growth.
The first quarter as reported by the Labor Department rose at an annual rate of 2.8% while labor costs fell at 1.3% annual rate.
Unemployment benefit initial claims fell a whopping 10,000 to end up at 453,000 for the week ending on May 29. Continuing claims for the week ending on May 22 rose to 4.66 million with 31,000 claims added. In May, 431,000 jobs were added by employers while in April that figure was 290,000. This in itself decreased the unemployment rate seen in April of 9.9% to May at 9.7%.
Reports are due on the wholesale trade on June 9 with international trade reports on June 10 and on June 11 retail sales.
Home Sales Rise Again In March
May 11, 2010
The National Association of Realtors reported that its pending home sales index, a forward-looking indicator based on signed contracts, rose 5.3% in March, after a revised 8.3% increase in February. On a year-over-year basis, pending home sales are up 21.1%.
Factory orders rose 1.3% in March, much better than the 0.1% decline economists had anticipated. It was the seventh straight gain and follows an upwardly revised 1.3% increase in February.
The Institute for Supply Management reported that the monthly index of manufacturing activity was 60.4 in April, after reaching 59.6 in March. It was the ninth straight month of expansion and the best reading since June 2004. A reading above 50 signals expansion.
Total construction spending rose 0.2% to $847.3 billion in March, following a revised 2.1% drop in February. The increase was largely due to a 2.3% surge in public construction spending.
The National Association of Realtors reported that its pending home sales index, a forward-looking indicator based on signed contracts, rose 5.3% in March, after a revised 8.3% increase in February. On a year-over-year basis, pending home sales are up 21.1%.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications for the week ending April 30 rose 4%. Purchase volume increased 13%. Refinancing applications fell 2.1%.
The Institute for Supply Management reported that the monthly composite index of non-manufacturing activity was 55.4 in April, unchanged from 55.4 in March. A reading above 50 signals expansion. Economists had anticipated a reading of 56.
Employers added 290,000 jobs in April, following a revised 230,000 advance in March. The April increase was the most since March 2006. The improving economy is encouraging more people to seek employment. This pushed the unemployment rate from 9.7% in March to 9.9% in April.
Upcoming on the economic calendar are reports on wholesale trade on May 11, international trade on May 12 and retail sales on May 14.
Pending Home Sales Index Rises
April 14, 2010
The National Association of Realtors reported that its pending home sales index, a forward-looking indicator based on signed contracts, rose 8.2% in February after a revised 7.8% decrease in January. The February reading was the largest gain since October 2001.
The Institute for Supply Management reported the monthly index of non-manufacturing activity rose to 55.4 during March from 53 in February. A reading above 50 typically signals expansion. Economists had anticipated a reading of 53.3. The reading was the highest since May 2006.
According to the Federal Reserve, consumer credit debt fell in February by $11.5 billion, an annual rate of 5.6%. Economists had forecast that the consumer debt would rise by $500 million. Consumer credit rose in January by $10.6 billion, ending a record 11 consecutive months of decline.
Sales at U.S. retail chains rose 9.1% in March. It was the largest monthly jump since recordkeeping began in 2000. Economists had anticipated an aproximate increase of 6.3%.
Initial claims for unemployment benefits unexpectedly rose by 18,000 to 460,000 during the week ending April 3. Continuing claims for the week ending March 27 fell by 131,000 to 4.55 million.
The Mortgage Bankers Association reported its seasonally adjusted index of mortgage applications for the week ending April 2 fell 11%. Purchase volume did increase at 0.2%. Refinancing applications fell 16.9%.
The Commerce Department said wholesalers increased their inventories by 0.6% in February following a revised 0.1% rise in January. Sales on the wholesale level rose 0.8% in February, marking the 11th straight monthly gain.
Upcoming on the economic calendar are the reports on retail sales on April 14, the housing market index on April 15 and housing starts on April 16.
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Mortgage Bankers Association Index Rose
March 8, 2010
The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications for the week ending February 26 rose 14.6% to approximately 629.9. Purchase volume increased 9% to 214.5. Refinancing applications jumped 17.2% to 3,054.3.
Consumer spending did indeed rise 0.5% to approximately $52.4 billion in January, slightly more than economists had anticipated. Personal income had increased 0.1% to right at $11,400,000,000 billion.
The Institute for Supply Management reported that the monthly index of manufacturing activity was 56.5 in February after reaching 58.4 during January. Nevertheless, it was the seventh straight month of expansion. A reading above 50 generally signals expansion.
The Commerce Department reported that total construction spending fell 0.6% in January after falling 1.2% during the month of December. Economists had expected a decrease of 0.7%.
The monthly index of non-manufacturing activity rose to 53 in February from 50.5 in the month of January. A reading above 50 usually signals expansion. Economists had anticipated a reading of 51. The reading was the highest since October 2007.
The National Association of Realtors reported that its pending home sales index, a forward-looking indicator based on signed contracts, fell 7.6% in January after a revised 0.8% increase in December.
The Labor Department reported productivity rose at an annual rate of 6.9% for our fourth quarter. Labor costs fell at an annual rate of 5.9%.
Factory orders rose approximately 1.7% in January, slightly below the 1.8% increase economists had anticipated. It was the fifth straight gain and follows a 1% increase in December.
The unemployment rate held at approximately 9.7% during February. Employers cut approximately 36,000 jobs in February, far fewer than expected. The four-week average for continuing jobless claims fell 134,000 to 4.500,000 million jobless claims.
Upcoming on the economic calendar are reports on wholesale trade on March 10, international trade on March 11 and retail sales on March 12
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Unemployment Rate Fell
February 11, 2010
Good news hit the airwaves when the unemployment rate in January fell to 9.7 percent a small drop from 10 percent, but a welcome change. Around 20,000 jobs were cut this month, which is a far cry from the amount in saw in December, which was 150,000. The jobless claims over the last 4 weeks average saw a decrease from 4.618 million to 51,250.
The monthly index of activity in the manufacturing industry as reported by the Institute for Supply Management was an increase from 54.9 in December to 58.4 in January. This is a good sign as it is the fastest growth seen since the summer of 2004 and the sixth month of expansion in a row. A show of more than 50 signals expansion.
Spending in the construction sector fell just a bit over 1 percent in December after down turning in November of the same percentage of 1.2 percent. It was speculated by economists to see a .5 percent decrease.
In the non-manufacturing sector in the United States, January saw a rise to 50.5 in January after in December seeing a revised 49.8. Once again, any reading over 50 shows expansion. This time economists were wrong again expecting a reading of 51.
Pending home sales index as reported by the National Association of Realtors, which was based on contracts that have been signed showed a rise of 1 percent in the month of December. At this time a year ago, the amount of homes sales was up 11 percent.
The seasonally adjusted index seen by the Mortgage Bankers Association for mortgage application during the last week of January saw an increase of 21 percent to 620.7. An increase of 10.3 percent was seen in the purchase volume bringing it to 237.8. Refinancing applications increased a great amount to 2,854.8, which was a 26.3 percent increase.
Productivity increased as stated by the Labor Department at a yearly rate at 6.2 percent in the 4th quarter, which followed a 3rd quarter increase of 7.2 percent. Overall, labor costs decreased at a yearly rate of 4.4 percent.
Factory orders was up 1 percent in December as reported by the Commerce Department, which was double the increase economists believed of 0.5 percent. This was the fourth time in a row we saw a gain and it followed a 1 percent increase in November, which was revised.
Construction spending as reported by the Commerce Department decreased 1.2 percent in December after a decrease of 1.2 percent in November. Economist believed a 0.5 decrease would be seen.
New economic calendars will be reporting on wholesale trade on February 9, February 11 is for retail sales reports and February 12 consumer sentiment.
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