Consumer prices rose 0.2% in August, with core prices (less food and energy), up 0.3%. On a year-over-year basis, prices are up 1.1% overall and 2.3% at the core.
Aggressive foreign buying sent net foreign demand for long-term US securities up from $-3.6 billion in June to $103.9 billion in July.
The University of Michigan’s Consumer Sentiment Index was unchanged at 89.8 for September.
Producer Prices for Final Demand were unchanged in August. PPI-FD ex-food and-energy rose 0.1% and less trade services rose 0.3%. On a year-over-year basis, PPI-FD is unchanged, prices less food and energy are up 1.0%, and prices less food, energy, and trade services are up 1.2%.
August retail sales fell -0.3% as consumers pulled back. Sales less autos, and sales less autos and gas, were both down -0.1%.
The nation’s current account deficit narrowed in the 2nd Quarter to $-119.9 billion from a revised $-131.8 billion in the 1st Quarter.
The Philadelphia Fed Business Outlook Survey rose from 2.0 to 12.8 in September.
The Empire State Manufacturing Survey rose from -4.21 to -1.99 in September.
Industrial Production fell -0.4% in August, while capacity utilization in the nation’s factories also fell -0.4% to 75.5%.
Business Inventories were unchanged in July while sales fell -0.2%. The stock-to-sales ratio was unchanged at 1.39.
Initial weekly jobless claims rose 1,000 to 260,000. The 4-week average fell 500 to 260,750. Continuing claims were unchanged at 2.143 million.
The Bloomberg Consumer Comfort Index fell -1.8 points to 42.2 in the latest week.
The Fed’s balance sheet rose $22.2 billion last week, with total assets of $4.482 trillion. Reserve bank credit fell $-22.4 billion.
The Fed reports that M2 money supply fell by $-8.0 billion in the latest week.
Import prices fell -0.2% in August, while export prices fell -0.8%. On a year-over-year basis, prices are down -2.2% for exports and -2.4% for exports.
The MBA reports that mortgage applications rose 4.2% last week, with purchases up 9.0% and refis up 2.0%.
The Treasury reports the federal government’s deficit is growing, at $-107.1 billion for August. The year-to-date deficit is $-620.8 billion, 17.1% higher than August, 2015.
The NFIB Small Business Optimism Index fell -0.2 points to 94.4 in August.
Redbook reports that last week’s retail sales growth rose to 0.8% on a year-ago basis, from the previous week’s 0.4%.
A lackluster 151,000 net new jobs were created in August, while the Unemployment Rate was unchanged at 4.9%. The labor force participation rate was unchanged at 62.8%. Average hourly earnings rose 0.1%, but the average workweek fell -0.2 hours to 34.3 hours.
A rise in exports lowered the July trade deficit to $-39.5 billion, down from $-44.5 billion in June.
After monthly declines of -1.2% and -1.8%, factory orders rose 1.9% in July, with core capital goods orders up 1.5%.
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.
The Pending Home Sales Index rose 1.3% in July, to 111.3.
ADP’s Employment Report for August indicates that 177,000 new private sector jobs were created during the month.
The Chicago PMI fell -4.3 points in August to 51.5.
The MBA reports that mortgage applications rose 2.8% last week, with purchases up 1.0% and refis up 4.0%.
Redbook reports that last week’s retail sales growth rose to 0.6% on a year-ago basis, from the previous week’s 0.2%.
The S&P Case Shiller home price index fell -0.1% in point 1% in June. On a year–over–year basis, the index is up 5.3%.
The Conference Board’s consumer confidence index rose 4 1/2 points to 101.1 in August.
The State Street Investor Confidence index fell a sharp -8.3 points in August to 89.7.
Personal Income rose 0.4% in July, while Consumer Spending rose 0.3%. The PCE Price Index was unchanged, but rose 0.1% at the core. On a year-over-year basis, the PCE Price index is up 0.8% overall, and 1.6% at the core.
The Dallas Fed Manufacturing Survey’s general activity index fell from -1.3 to -6.2, but the production index rose from 0.4 to 4.5 in August.
Durable goods orders rose 4.4% in July, with ex-transportation orders up 1.5% and core capital goods orders up 1.6%. On a year-over-year basis, however, orders have fallen -3.3%, ex-transportation orders are down -0.6%, and core capital goods orders are down -4.9%.
Initial weekly jobless claims fell 1,000 to 261,000. The 4-week average fell 1,250 to 264,000. Continuing claims fell 30,000 to 2.145 million.
The Bloomberg Consumer Comfort Index rose 1.7 points to 45.3 in the latest week.
The Fed’s balance sheet rose $7.4 billion last week, with total assets of $4.474 trillion. Reserve bank credit fell $-0.7 billion.
The Fed reports that M2 money supply rose by $22.9 billion in the latest week.