Housing Starts fell -0.3% in August to a 1.126 million annual rate, while permits rose 3.5% to a 1.170 million annual rate.
The nation’s current account deficit for the 2nd Quarter of 2015 was $109.7 billion vs a revised $118.3 billion in the first quarter.
The Philadelphia Fed Business Outlook Survey joined the Empire State survey in negative territory, falling from 8.3 to -6.0 in August.
The Federal Open Markets Committee left interest rates unchanged today, with a Fed Funds target rate of 0% to 0.25%.
The FOMC’s economic predictions for the US economy foresee substandard annual GDP growth of 2.0% to 2.6% for the next three years.
Initial weekly jobless claims fell 11,000 to 264,000. The 4-week average fell 3,250 to 272,500. Continuing claims fell 26,000 to 2.237 million.
The Bloomberg Consumer Comfort Index fell -1.2 points to 40.2 in the latest week.
The Fed’s balance sheet rose $9.6 billion last week, with total assets of $4.488 trillion. Reserve bank credit rose $6.6 billion.
The Fed reports that M2 money supply rose by $1.3 billion in the latest week.
The MBA reports that mortgage applications fell -7.0% last week, with purchases down 4.0% and refis down -9.0%.
Consumer prices fell -0.1% in August, while the core CPI rose 0.1%. On a year-over-year basis, the CPI is up 0.2% overall and 1.8% at the core.
The NAHB’s Housing Market Index rose 1 point to 62 in September, a near 10-year high.
Net foreign demand for long-term US securities plunged in July, down to just $7.7 billion, from $103.1 billion in June.
Well, I’m back from vacation, so I guess I’ll start doing the economic stuff again. There were no economic releases yesterday, so I guess I got an extra day off from it. Anyhoo…
Retail sales rose 0.2% in August with sales ex-autos up 0.1% and sales ex-autos and -gas up 0.3%. All were slightly below expectations.
The Empire State Manufacturing Index remains at meteor-crater-low levels for the second month in a row, up only 0.75 points in September to -14.67.
Redbook reports that last week’s retail sales rose to a still-soft 1.7% on a year-ago basis, from the previous week’s 1.3%.
Industrial Production fell -0.4% in August, while capacity utilization in the nation’s factories fell -0.4% to 77.6%. Manufacturing production fell -0.5%.
Business inventories rose 0.1% in July, though a 0.1% rise in sales left the stock-to-sales ratio unchanged at a hefty 1.36, versus 1.29 a year ago.
The BLS reports that a disappointing 173,000 net new jobs were created in August. The unemployment rate shrank -0.2% to 5.1%, as 261,000 people left the labor force. The labor force participation rate held steady at 62.6%. Average hourly earnings rose by 0.3%, while the average work week stayed at 34.6 hours.
Chain store retailers today are posting mostly higher rates of sales growth for August than July, the 4th straight month of improvement.
Challenger reports 41,186 lay-off announcements in August, and far lower than July’s 105,696 which was skewed by a big Army cutback.
The nation’s trade deficit narrowed to $-41.9 billion in July following an upward revised deficit of $-45.2 billion in June.
The Gallup U.S. Payroll to Population employment rate fell -0.2% to 45.3% in August.
The PMI Services Index rose 0.4 points in August to 56.1.
The ISM Non-Manufacturing Index fell -1.3 points in August, to a still-high 59.0.
The Bloomberg Consumer Comfort Index fell -0.6 points to 41.4 in the latest week.
Initial weekly jobless claims rose 11,000 to 282,000, which is still historically low. The 4-week average rose 3,250 to 275,500. Continuing claims fell 9,000 to 2.257 million.
The Fed’s balance sheet rose $0.8 billion last week, with total assets of $4.476 trillion. Reserve bank credit fell $-9.3 billion.
The Fed reports that M2 money supply rose by $33.1 billion in the latest week.
The MBA reports that mortgage applications rose 11.3% last week, with purchases up 4.0% and refis up a very strong 17%.
The ADP Employment report shows only 190,000 net new private sector jobs were created in July.
Following the upward revision to 2nd Quarter GDP, productivity for the Quarter has been revised up to 3.3%, with labor costs down -1.4%.
Gallup’s U.S. job creation index held unchanged at 32 in August for the 4th consecutive month.
Pulled down by petroleum and coal products, factory orders rose a lower-than-expected 0.4% overall in July, but the durable good orders component rose a strong 2.2%.
The Fed’s Beige Book reports that 11 of 12 districts report only moderate to modest growth with the Cleveland district reporting only slight growth.
Motor vehicle sales rose a strong 1.5 percent to a 17.8 million annual rate in August.
Redbook reports that last week’s retail sales fell to 1.3% on a year-ago basis, from the previous week’s 1.7%, as sales weakness continues.
Markit’s PMI Manufacturing Index fell -0.8 points in August to 53.0.
The ISM Manufacturing Index fell -1.6 points to a lower-than-expected 51.1 in August
Construction Spending rose 0.7% in August, with a year-over-year increase of 13.7%.
The Gallup Economic Confidence Index fell -1 point to -13 in August, an 11-month low.
In July, personal income rose 0.4%, consumer spending rose 0.3%, and the PCE Price Index rose 0.1% both overall and at the core. On a year-over year basis, PCE Price Index rose 0.3% overall, and 1.2% ex-food and energy.
The University of Michigan’s Consumer Sentiment Index for August fell -1.0 points to 91.9.
GDP for the 2nd Quarter of 2015 was revised sharply upwards to an annualized 3.7%, with the GDP Price Index up 2.1%.
Corporate profits in the second quarter came in at $1.824 trillion, up a year-on-year 7.3%.
The Pending Home Sales Index rose 0.5% in July to 110.9.
The Kansas City Fed Manufacturing Index declined by -2 points to -9 as the district’s manufacturing contraction deepened.
Initial weekly jobless claims fell 6,000 to 271,000. The 4-week average rose 1,000 to 272,500. Continuing claims rose 13,000 to 2.269 million.
The Bloomberg Consumer Comfort Index rose 0.9 points to 42.0 in the latest week.
The Fed’s balance sheet fell $-12.1 billion last week, with total assets of $4.475 trillion. Reserve bank credit rose $70.8 billion.
The Fed reports that M2 money supply increased by $33.4 billion in the latest week.