Marketwatch 666

The only widely watched economic reports that were released last week were the July report on new home sales from the Census Bureau, and the Existing Home Sales Report for July from the National Association of Realtors (NAR)….but this week also saw a preliminary annual benchmark revision of employment data from the Bureau of Labor Statistics, which estimated there were 818,000 fewer payroll jobs in March of 2024 than had previously been reported, which would have come after revisions to the monthly reports of the prior year, and would also impact subsequent employment data revisions going forward….that report includes estimates of the revision to payroll jobs in each major goods producing and service industry sector and government….however, this estimated benchmark revision will not be applied to the monthly employment reports until the annual revision is finalized with the release of the January 2024 employment report on the first Friday of February 2024, when the national employme...

The major economic reports released last week were the July Consumer Price Index and the July Producer Price Index , both from the Bureau of Labor Statistics, the Retail Sales Report for July and the concurrent​ly released Business Sales and Inventories report for June , both from the Census bureau, the July report on Industrial Production and Capacity Utilization from the Fed, and the July report on New Residential Construction , also from the Census Bureau…in addition, the Bureau of Labor Statistics released the Regional and State Employment and Unemployment Report for July , a report which breaks down the two employment surveys from the monthly national jobs report by state and region….while the text of this report provides a useful summary of this data, the serious statistics aggregation can be found in the tables linked at the end of the report, where one can find the civilian labor force data and the change in payrolls by industry for each of the 50 states, the District of Col...

Major economic reports released the past week were the Commerce Dept report on our International Trade for June and the June report on Wholesale Trade, Sales and Inventories from the Census Bureau…in addition, this week also saw the Consumer Credit Report for June from the Fed, which reports on non-real estate consumer borrowing, and which indicated consumer credit outstanding grew by a seasonally adjusted $8.9 billion in June, or at a 2.1% annual rate, as non-revolving credit grew at an 3.4% rate to $3,734.6 billion, while revolving credit outstanding fell at a 1.6% rate to $1,343.8 billion.. The major private reports released this week were the July 2024 Services Report On Business from the Institute for Supply Management, which saw their Services PMI rise to 51.7%, up from 48.8% in June, indicating a small plurality of service industry purchasing managers reported increases in various business metrics in July, after a small plurality had indicated decreases in June, and the Mo...

The major economic releases of last week included the Employment Situation Summary for July and the Job Openings and Labor Turnover Survey (JOLTS) for June , both from the Bureau of Labor Statistics, and two June reports that included metrics which were only estimated in last week’s release of 2nd quarter GDP: the June report on Construction Spending (pdf) and the Full Report on Manufacturers’ Shipments, Inventories and Orders for June , both of which were from the Census Bureau…Last week also saw the release of the last regional Fed manufacturing survey for July: the Dallas Fed’s Texas Manufacturing Outlook Survey , which also covers adjacent western Louisiana and southeastern New Mexico, indicated its general business activity index fell to –17.5 in July, down from –15.1 in June but up from -19.1 in May, indicating a majority of Texas businesses continue to experience a slowdown, with the negative figures indicating the percentage of negative reports over those that were positive e...