Archive for April, 2015

Key Economic Indicators – April 27, 2015

Friday, April 24th, 2015
  • New orders for manufactured durable goods increased 4.0% in March, while shipments increased 1.1%. Excluding transportation, new orders decreased 0.2%, while shipments decreased 0.3%. Year-to-date new orders were up 0.1% from the same period a year ago, while shipments were up 3.6%.
  • March existing home sales increased 6.1% to an annualized rate of 5,190 thousand units. The March figure was 10.4% above the March 2014 figure. The median sales price of existing houses sold was $212.1 thousand, 7.8% above March 2014. There were 2,000 thousand homes for sale at the end of the month. This represents a supply of 4.6 months at the current sales rate, compared to 5.0 in March of 2014.
  • March new home sales were down 11.4% from the previous month, but were up 19.4% from March 2014. The median sales price of new houses sold was $277.4 thousand, 1.7% below March 2014.
  • U.S. House prices rose 0.7% on a seasonally adjusted basis from January to February, according to the Federal Housing Finance Agency’s (FHFA). For the 12 months ending in February, U.S. prices rose 5.4%. The index is now 2.9% below its March 2007 peak and is roughly the same as the January 2006 level.
  • The results of Freddie Mac’s Primary Mortgage Market Survey showed average fixed mortgage rates moving down slightly. 30-year fixed-rate mortgage averaged 3.65% for the week ending April 23, down from last week when it averaged 3.67%. A year ago this time, the 30-year fixed-rate averaged 4.33%.
  • Mortgage applications increased 2.3% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending April 17th.
  • The advance figure for initial claims for unemployment insurance increased a thousand to 295 thousand in the week ending April 18. The 4-week moving average was 284.5 thousand, an increase of 1.75 thousand from the previous week’s average.

Posted in Key Economic Indicators | No Comments »

Key Economic Indicators – April 20, 2015

Friday, April 17th, 2015
  • Advance estimates of retail and food services sales for March were up 0.9% from February, and were up 1.3% from March 2014. Total sales for the January through March 2015 period were up 2.2% from the same period a year ago.
  • Total manufacturing and trade sales for February were up less than 0.1% from January, while inventories were up 0.3%.
  • Total Industrial production decreased 0.6% in March, after a 0.1% increase in the previous month. For the first quarter of 2015, industrial production declined at an annual rate of 1.0%, the first quarterly decrease since the second quarter of 2009.
  • Capacity utilization for the industrial sector decreased 0.6 percentage point in March to 78.4, a rate that is 1.7 percentage points below its long-run (1972-2014) average.
  • Housing starts in March were up 2.0% from the previous month, but were down 2.5% from a year ago. Building permits were down 5.7% from the previous month, but were up 2.9% from a year ago.
  • The housing market index of National Association of Home Builders (NAHB) and Wells Fargo increased 4 points to 56 in April. The index was 57 in January of 2015, and 46 in April of 2014.
  • The results of Freddie Mac’s Primary Mortgage Market Survey showed average fixed mortgage rates were virtually unchanged. 30-year fixed-rate mortgage averaged 3.67% for the week ending April 16th, up slightly from last week when it averaged 3.66%. A year ago at this time, 30-year fixed-rate mortgage averaged 4.27%.
  • Mortgage applications decreased 2.3% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending April 10th.
  • The federal government budget ran a deficit of $52.9 billion in March, following a deficit of $192.4 billion in the previous month. The cumulative budget deficit for the first six months of fiscal year 2015 was $439.5.5 billion, compared with a deficit of $413.3 for the same period of the previous fiscal year.
  • The producer price index for final demand increased 0.2% in March, following a decrease of 0.5% in the previous month. The producer price index for final demand decreased 0.8% from March 2014 to March 2015.
  • The consumer price index (headline index) increased 0.2% in March, The same increase as in the previous month. The core index also increased 0.2%. The consumer price index decreased 0.1% for the 12-month period ending in March, while the core index rose 1.8%.
  • Real average hourly earnings for all employees increased 0.1% from February to March. This result stems from a 0.3% increase in average hourly earnings being partilly offset by a 0.2% increase in the consumer price index.
  • The advance figure for initial claims for unemployment insurance increased 12 thousand to 294 thousand in the week ending April 11. The 4-week moving average was 282.75 thousand, an increase of 0.25 from the previous week’s revised average.
  • The April Empire State Manufacturing Survey indicated that business activity was flat for New York manufacturers. The general business conditions index fell below zero for the first time since December, declining eight points to negative 1.2 in a sign that activity was virtually flat.
  • The Philadelphia FED business outlook survey for April reported that manufacturing activity in the region increased modestly.
  • The FED’s “Beige Book” indicated that overall economic activity continued to expand across most regions from mid-February through the end of March.
  • The Conference Board index of leading economic indicators increased 0.2% in March, following an increase of 0.1% in the previous month. The Conference Board coincident economic index increased 0.1% in March, following a 0.2% increase in the previous month.
  • The Thomson Reuters/University of Michigan Index of Consumer Sentiment, preliminary, for April increased to 95.9, from 93.0 in March. The index was 84.1 in April 2014.

Posted in Key Economic Indicators | No Comments »

Key Economic Indicators – April 13, 2015

Friday, April 10th, 2015
  • Sales of merchant wholesalers in January were down 3.3% from the previous month, and down 0.3% from January of 2014. Sales of durable goods were down 1.3% in January, while sales of nondurable goods were down 5.1%. Inventories of merchant wholesalers were up 0.2% from the previous month, and were up 6.1% from January 2014.
  • February consumer credit outstanding increased at an annual rate of 5.6%. Revolving credits decreased 5.0%, while non-revolving credits increased 9.4%.
  • The import price index decreased 0.3% in March, following a 0.2% increase in the previous month. The overall import price index decreased 10.5% from March 2014. During the same period, the fuel index decreased 45.2%, while the non-fuel index decreased 1.9%.
  • The export price index increased 0.1%, following a 0.2% decrease in the previous month. The overall export price index decreased 6.7% from March 2014. During the same period, agricultural export prices were down 13.5%, while non-agricultural export prices were down 5.9%.
  • The advance figure for initial claims for unemployment insurance increased 14 thousand to 281 thousand in the week ending April 4. The 4-week moving average was 282.25 thousand, a decrease of 3 thousand from the previous week’s revised average.
  • The results of Freddie Mac’s Primary Mortgage Market Survey showed average fixed mortgage rates moving lower following a weaker than expected jobs report for March. 30-year fixed rate mortgage averaged 3.66% for the week ending April 9, down from a week earlier when it averaged 3.70%. A year ago at this time, the 30-year fixed rate mortgage averaged 4.34%.
  • Mortgage applications increased 0.4% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending April 3rd.
  • In March, the Institute for Supply Management’s non-manufacturing survey results indicated growth for the 62nd consecutive month.

Posted in Key Economic Indicators | No Comments »

Key Economic Indicators – April 6, 2015

Friday, April 3rd, 2015
  • Total non-farm payroll employment increased 126 thousand in March, following an increase of 264 thousand in the previous month.   Private-sector payrolls increased by 129 thousand in the month, while government employment decreased by 3 thousand.
  • The number of unemployed persons decreased by 130 thousand to 8.575 million in March. The unemployment rate held steady at 5.5%.
  • The average workweek of all employees on private nonfarm payrolls decreased 0.1 to 34.5 hours. Average hourly earnings increased by 5 cents to $24.86. Over the past 12 months, average hourly earnings were up 2.1%.
  • The advance figure for initial claims for unemployment insurance decreased 20 thousand to 268 thousand in the week ending March 28. The 4-week moving average was 285.5 thousand, a decrease of 14.75 thousand from the previous week’s average. The advance number for seasonally adjusted insured unemployment during the week ending March 21 was 2,325 thousand, a decrease of 88 thousand from the previous week.
  • Regional and state unemployment rates were little changed in February. Twenty-six states had unemployment rate decreases from January, six states and the District of Columbia had increase, and eighteen states had no change. In February, nonfarm payroll employment increased in 36 states and the District of Columbia, decreased in 13 states, and was unchanged in one state.
  • Personal income increased 0.4%, in February, while personal consumption expenditures increased 0.1%. Personal savings as percent of personal disposable income were 5.8% in February, compared with 5.5% in the previous month. Real disposable personal income increased 0.2%, while real personal consumption expenditures decreased 0.1%.
  • The price index for personal consumption expenditures increased 0.2% in February, while the core index increased 0.1%. The price index (headline index) was up 0.3% from February 2014, while the core index was up 1.4%.
  • Sales of domestic cars increased 4.6% in March, while total light vehicle (cars and light trucks) sales increased 5.5%. Total light vehicle sales were 17.1 million units, at a seasonally adjusted annual rate, compared to 16.4 million in March of 2014.
  • New orders for manufactured goods increased 0.2% in February, following six consecutive monthly decreases. Shipments increased 0.7%, following four consecutive monthly decreases. Unfilled orders were down for the fourth consecutive month, while inventories were up 0.1%, following two consecutive monthly decreases.
  • In February, international trade deficit was $35.4 billion, down $7.2 billion from $42.7 billion in January. Year-to-date trade deficit decreased $2.6 billion, from the same period in 2014.
  • February construction spending was down 0.1% from the previous month, but was up 2.1% from February 2014. Private construction was up 0.2%, while public consumption was down 0.8%.
  • The Pending Home Sales Index increased 3.1% to a reading of 106.9 in February, according to the National Association of Realtors. The index was 12.0% above February 2014 level.
  • The S & P/Case-Shiller National U.S. Home Price Index for January indicates that home prices continued their rise across country over the last 12 months. However, monthly data show slowing increases and seasonal weakness. The National index was down 0.1% from the previous month, but was up 4.5% from January 2014.
  • The results of Freddie Mac’s Primary Mortgage Market Survey showed average fixed mortgage rates little changed. 30-year fixed-rate mortgage averaged 3.70% for the week ending April 2, up slightly from last week when it averaged 3.69%. A year ago at this time, the 30-year rate was 4.41%. 15-year fixed-rate mortgage averaged 2.98%, up from a week ago when it averaged 2.97%.
  • Mortgage applications increased 4.6% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending March 27th.
  • The Conference Board’s consumer confidence index, which had decreased in February, improved in March. The expectations index increased to 96, while the present situation index decreased to 109.1.
  • The Institute for Supply Management’s (ISM) manufacturing survey indicated that manufacturing sector expanded in March for the 27th consecutive month, and the overall economy grew for the 70th consecutive month.

Posted in Key Economic Indicators | No Comments »