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Factory orders dipped 0.2% in April, the Commerce Department said Monday. That matched the Econoday consensus forecast and was the first monthly decline after a four-month stretch of increases. March’s 0.2% increase was revised up to a hefty 1.0% rise. For the year to date, orders are 4.4% higher than in the same period a
READ MOREThe U.S. created 222,000 new jobs in June and hiring was stronger in the spring than previously reported, reflecting a labor market with plenty of vigor left in it. Economists polled had predicted a 180,000 increase in nonfarm jobs. The unemployment rate rose to 4.4% from 4.3% as more people entered the labor force in
READ MOREApril JOLTS report shows 6.044M unfilled job openings vs. estimates of 5.650M. This is a huge number and suggests the labor market still has room to run provided that their are qualified people with the corresponding skill set to match up with the open jobs. Not enough to turn the positive move for interest rates
READ MOREThe Federal Reserve expects a “gradual” increase in interest rates and for balance sheet normalization to begin this year, according to the monetary policy report released Friday. That’s the same assessment the Federal Open Market Committee gave after its June meeting, and comes ahead of Federal Reserve Chairwoman Janet Yellen’s testimony on Capitol Hill next
READ MOREInitial jobless claims dropped by 10,000 to 245,000 in the seven days stretching from May 28 to June 3. Initial claims count people who apply for benefits after losing their jobs. New applications for benefits have registered less than 300,000 for 118 straight weeks, the longest run since the early 1970s. The more accurate four-week
READ MORELower costs of gasoline and other fuels kept wholesale U.S. inflation in check in May, but upward pressure on prices persisted in many areas of an economy whose expansion is the third longest in modern times. The producer price index was flat last month following a sharp 0.5% increase in April. Economists had predicted no
READ MOREEver since the Federal Reserve adopted an explicit inflation target of 2% in 2012, the central bank has had limited success in hitting it. Only once, in fact, in the months between April 2012 and today, did the year-over-year increase in the personal consumption expenditures (PCE) price index breach 2%.
READ MOREThe cost of goods and services for American consumers fell in May for the second time in three months as inflation continued to recede from a recent high-water mark. The consumer price index, or cost of living, fell by a seasonally adjusted 0.1% last month, the government said Wednesday.. A big drop in gasoline prices
READ MORESales at retailers nationwide sank 0.3% last month, the biggest drop since January 2016. The May sales report was generally weak across the board. Economists polled had forecast flat sales in May. The reversal last month unwound much of the strength in April when sales jumped 0.4%. April sales benefited from a late Easter holiday
READ MOREAt the conclusion of its two-day policy meeting, the Federal Open Market Committee moved its benchmark interest rate higher by 0.25 percentage point to between 1% and 1.25%, as had been widely expected on Wall Street.
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