Economic Statistics for 1 Sep 16
Motor vehicle sales fell -5.0% in July to a 17.0 million annual rate. This was almost entirely due a fall in North American-made vehicles, which fell from a 14.3 million rate in June to a 13.4 million rate in July.
The final revision for 2nd Quarter productivity shows a -0.6% decline in productivity, while unit labor costs rose 4.3%.
Chain stores—those that still report monthly sales, anyway, mostly report higher year-on-year sales growth for August.
Construction spending was unchanged in July, and is up only 1.5% on a year-over-year basis.
In August, the PMI Manufacturing Index fell -0.9 points to 52.0, while the ISM Manufacturing Index fell -3.2 points to a contractionary 49.4.
Challenger reports that layoff announcements totaled 32,188 in August, down from 45,346 in July.
Gallup’s Good Jobs Rate fell from its record high of 47.1% in July to 46.5 in August, the 2nd-highest ever recorded.
Initial weekly jobless claims rose 2,000 to 263,000. The 4-week average fell 1,000 to 263,000. Continuing claims rose 14,000 to 2.159 million.
The Bloomberg Consumer Comfort Index fell -1.9 points to 43.3 in the latest week.
The Fed’s balance sheet fell $-15.9 billion last week, with total assets of $4.458 trillion. Reserve bank credit fell $-19.5 billion.
The Fed reports that M2 money supply rose by $22.0 billion in the latest week.