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Showing posts from November, 2024

October’s new housing construction and existing home sales

There were just two widely watched economic reports released this past week: the October report on New Residential Construction from the Census bureau, and the Existing Home Sales Report for October from the National Association of Realtors…in addition, the Bureau of Labor Statistics released the Regional and State Employment and Unemployment for October , a report which breaks down the two employment surveys from the monthly national jobs report by state and region….while the text of that 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 Columbia, Puerto Rico, and the Virgin Islands… This week also saw the release of two more regional Fed manufacturing survey for November: the Philadelphia Fed Manufacturing Survey , covering most of Pennsylvania, southern New Je...

October’s consumer and producer price indexes, retail sales, and industrial production, September’s business inventories

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Major reports released ​last week included the September Consumer Price Index , the September Producer Price Index , and the September Import-Export Price Index , all from the Bureau of Labor Statistics, the Retail Sales Report for October and the associated Business Sales and Inventories Report for September , both from the Census Bureau, and the October report on Industrial Production and Capacity Utilization from the Fed​....T​h​e week also saw the release of the first regional Fed manufacturing survey for November: the Empire State Manufacturing Survey from the New York Fed, which covers all of New York state, a suburban NYC county in Connecticut, Puerto Rico and northern New Jersey, reported their headline general business conditions index rose from -11.9 in October to +31.2 in November, its highest reading in nearly three years, meaning that a significant majority of Second District manufacturers are now reporting improving conditions, after the had reported deteriorating busi...

September’s trade deficit, factory orders, and wholesale sales

Economic reports released last week included the Commerce Department's report on our International Trade for September , and the Full Report on Manufacturers’ Shipments, Inventories and Orders for September , and the September report on Wholesale Trade, Sales and Inventories , both from the Census Bureau…. The week also saw the Consumer Credit Report for September from the Fed, which reports on non-real estate consumer borrowing, and which indicated consumer credit outstanding grew by a seasonally adjusted $6.0 billion in June, or at a 1.4% annual rate, as non-revolving credit grew at an 1.6% rate to $3,745.4 billion, while revolving credit outstanding grew at a 0.9% rate to $1,357.6 billion…during the third quarter, consumer credit increased at a seasonally adjusted 3.2% rate, as revolving credit increased at a 2.8% annual rate, while nonrevolving credit increased at an 3.4% annual rate…. Privately issued reports included the widely followed service industry purchasing manage...

3rd quarter GDP; October’s jobs report; September’s income and outlays, construction spending, and JOLTS

Major economic reports that were released during the past week included the 1st estimate of 3rd quarter GDP and the September report on Personal Income and Spending , both from the Bureau of Economic Analysis, the Employment Situation Summary for October and the Job Openings and Labor Turnover Survey (JOLTS) for September , both from the Bureau of Labor Statistics, and a September report that revised metrics which were estimated in the week’s earlier release of 3rd quarter GDP: the September report on Construction Spending (pdf) from the Census Bureau…the week also saw the release of the last regional Fed manufacturing survey for October: the Dallas Fed Texas Manufacturing Outlook Survey , which covers Texas and adjacent western Louisiana and southeastern New Mexico, reported its general business activity index rose from –9.0 in September to –3.0 in October, indicating that a smaller plurality of Texas area manufacturers continued to see deteriorating business conditions in October,...