Business Conditions
-
•
Nonmanufacturing Index Rises in August; Initial Claims Lowest Since 1969
The ISM’s nonmanufacturing index rose to a reading of 58.5 from 55.7 in July. The results suggest the nonmanufacturing sector continued to grow in August. That performance is in line with the report for the manufacturing sector and other recent data that point to ongoing expansion for the overall economy.
-
•
ISM Manufacturing PMI Reaches 14-Year High
The Manufacturing Purchasing Managers’ Index registered a 61.3 reading in August, the highest reading since 2004. All five components of the PMI showed stronger readings in the latest month. Today’s report suggests a positive outlook for manufacturing.
-
•
Income and Spending Post Gains in July
Personal income rose 0.3 percent in July while total personal consumption expenditures (PCE) rose 0.4 percent. Gains in disposable income should provide support for future increases in spending and suggest a positive outlook for the economy.
-
•
When Will the Debt Trap Snap?
A new recession would not only mean lower or even negative economic growth rates, it would also induce governments to increase public spending. Then, the public debt quotient (debt over gross domestic product) would rise because of a lower denominator and a higher numerator. With the interest rate at historical lows, and the debt ratios…
-
•
Corporate Profits Hit a New Record as GDP Growth Is Revised Higher
Revised estimates show the U.S. economy grew at a 4.2 percent annual rate in the second quarter while after-tax profits rose 3.7 percent to a record $1,968.5 billion at an annual rate.
-
•
Consumer Confidence Closing In on a New Record High
Consumer Confidence rose for the second month in a row, to the highest level since October 2000. Overall, consumer attitudes remain at historically favorable levels, suggesting support for future gains in consumer spending and overall economic growth.
-
•
Durable-Goods Orders Excluding Aircraft Surge to a Record
New orders for durable goods fell 0.2 percent in July, however, excluding aircraft, orders jumped 1.3 percent to a record high. The data suggest that demand remains strong and that the outlook for the economy remains positive.
-
•
Prices and Interest Rates May Be Weighing on Housing
Sales of new single-family homes fell 1.7 percent in July. Slowing sales are coinciding with slowing construction suggesting new-home building is unlikely to contribute significantly to growth in coming quarters.
-
•
Existing-Home Sales Fell Again in July
Sales of existing homes fell in July, the fourth consecutive decline. Declining affordability due to rising home prices and rising interest rates is likely to continue weighing on housing activity in coming quarters.
-
•
Retail Sales Easily Beat Expectations in July
Retail sales for July rose 0.5 percent, marking the sixth consecutive month of gains. The report suggests that U.S. economic growth is maintaining strong momentum, supported by consumer spending.
-
•
Nonmanufacturing Index Rises in August; Initial Claims Lowest Since 1969
The ISM’s nonmanufacturing index rose to a reading of 58.5 from 55.7 in July. The results suggest the nonmanufacturing sector continued to grow in August. That performance is in line with the report for the manufacturing sector and other recent data that point to ongoing expansion for the overall economy.
-
•
ISM Manufacturing PMI Reaches 14-Year High
The Manufacturing Purchasing Managers’ Index registered a 61.3 reading in August, the highest reading since 2004. All five components of the PMI showed stronger readings in the latest month. Today’s report suggests a positive outlook for manufacturing.
-
•
Income and Spending Post Gains in July
Personal income rose 0.3 percent in July while total personal consumption expenditures (PCE) rose 0.4 percent. Gains in disposable income should provide support for future increases in spending and suggest a positive outlook for the economy.
-
•
When Will the Debt Trap Snap?
A new recession would not only mean lower or even negative economic growth rates, it would also induce governments to increase public spending. Then, the public debt quotient (debt over gross domestic product) would rise because of a lower denominator and a higher numerator. With the interest rate at historical lows, and the debt ratios…
-
•
Corporate Profits Hit a New Record as GDP Growth Is Revised Higher
Revised estimates show the U.S. economy grew at a 4.2 percent annual rate in the second quarter while after-tax profits rose 3.7 percent to a record $1,968.5 billion at an annual rate.
-
•
Consumer Confidence Closing In on a New Record High
Consumer Confidence rose for the second month in a row, to the highest level since October 2000. Overall, consumer attitudes remain at historically favorable levels, suggesting support for future gains in consumer spending and overall economic growth.
-
•
Durable-Goods Orders Excluding Aircraft Surge to a Record
New orders for durable goods fell 0.2 percent in July, however, excluding aircraft, orders jumped 1.3 percent to a record high. The data suggest that demand remains strong and that the outlook for the economy remains positive.
-
•
Prices and Interest Rates May Be Weighing on Housing
Sales of new single-family homes fell 1.7 percent in July. Slowing sales are coinciding with slowing construction suggesting new-home building is unlikely to contribute significantly to growth in coming quarters.
-
•
Existing-Home Sales Fell Again in July
Sales of existing homes fell in July, the fourth consecutive decline. Declining affordability due to rising home prices and rising interest rates is likely to continue weighing on housing activity in coming quarters.
-
•
Retail Sales Easily Beat Expectations in July
Retail sales for July rose 0.5 percent, marking the sixth consecutive month of gains. The report suggests that U.S. economic growth is maintaining strong momentum, supported by consumer spending.