US New-Home Sales Fall for First Time Since February

US new-home sales declined in June for the first time in four months, suggesting high borrowing costs and prices are restraining momentum in the market. Purchases of new single-family homes fell 2.5% to an annualized 697,000 pace after a downward revision to the prior month, government...

US: CB Consumer Confidence Index Rises to 117 in July

Consumer sentiment in the US continued to improve in July, with the Conference Board's Consumer Confidence Index rising to 117.0 from 110.1 (revised from 109.7) in June. Further details of the publication revealed that the Present Situation Index climbed to 160.0 from 155.3 and the Consumer...

Philadelphia Fed factory index in negative territory for 11th straight month

The Philadelphia Fed said Thursday its gauge of regional business activity inched up to negative 13.5 in July from negative 13.7 in the prior month. Any reading below zero indicates deteriorating conditions. This is the eleventh straight negative reading. Economists polled by the Wall Street...

US Jobless Claims Fall to Two-Month Low of 228,000

US applications for unemployment benefits fell last week to the lowest level in two months, suggesting resilient demand for workers amid a moderation in job gains.  Initial jobless claims fell by 9,000 to 228,000 in the week ended July 15, according to Labor Department data published...

US Housing Starts Declined in June After Surging in Prior Month

New US home construction retreated in June after surging a month earlier, to a pace that indicates builders are working to fill the void left by lean housing inventory in the resale market. Residential starts fell 8% last month to a 1.43 million annualized rate, according to government data...

New York Manufacturing Barely Grows, While Price Gauges Retreat

A measure of New York state factory activity barely expanded in July as orders edged up and inflationary pressures eased. The Federal Reserve Bank of New York’s general business conditions index decreased 5.5 points to 1.1, data showed Monday. A reading above zero indicates growth....

US Consumer Sentiment Jumps to Highest in Nearly Two Years

US consumer sentiment soared in early July to an almost two-year high, bolstered by easing inflation and a strong labor market. The University of Michigan preliminary index rose by 8.2 points to 72.6, the highest since September 2021. The reading topped all forecasts in a Bloomberg...

US Producer Prices Rise at Slowest Pace in Nearly Three Years

US producer prices barely increased in June from a year earlier, rising at the slowest pace in nearly three years and extending a months-long deceleration in pipeline inflationary pressures.  The producer price index for final demand rose 0.1% from a year earlier, according to data...

US Jobless Claims Dip to 237,000 as Labor Market Stays Resilient

US applications for unemployment benefits fell last week, suggesting a resilient labor market despite a moderation in job gains. Initial claims for unemployment benefits dropped by 12,000 to 237,000 in the week ending July 8, according to a Labor Department report released on Thursday. The...

US consumer prices rise modestly in June; core inflation slowing

U.S. consumer prices rose modestly in June and registered their smallest annual increase in more than two years as inflation continued to subside, but probably not fast enough to discourage the Federal Reserve from resuming raising interest rates later this month. The CPI gained 0.2% last month...

US Inflation Cools to 3% and Core CPI Rises Less Than Forecast

US Adds Below-Forecast 209,000 Jobs as Labor Market Cools

US employers added fewer jobs in June than projected, illustrating a labor market that is gradually moderating, though wage growth remained firm. Nonfarm payrolls increased 209,000 after a downwardly revised 306,000 advance in May, a Bureau of Labor Statistics report showed Friday....

US Job Openings Fall to 9.8 Million After Prior Month’s Surge

Vacancies at US employers fell in May but remained historically elevated, highlighting persistent demand for labor even as other sectors of the economy cool.  The number of available positions fell to 9.8 million from an upwardly revised 10.3 million in April, the Labor...

US Services Expand by Most in Four Months on Stronger Demand

The US service sector expanded in June at the fastest pace in four months as business activity and orders quickened. The Institute for Supply Management’s overall gauge of services increased 3.6 points — the most since the start of the year — to 53.9 last month. Readings above 50...

US Weekly Jobless Claims Rise Moderately; Layoffs Drop in June

The number of Americans filing new claims for unemployment benefits increased moderately last week, pointing to only a gradual easing in labor market conditions. Initial claims for state unemployment benefits rose 12,000 to a seasonally adjusted 248,000 for the week ended July 1, the Labor...

U.S. Private Payrolls Rise by 497,000 in June – ADP

U.S. private payrolls increased at a faster pace in June as policymakers at the Federal Reserve keep a careful eye on the country's labor market ahead of a key upcoming interest rate decision. Private payrolls rose by 497,000 jobs last month, the ADP National Employment report showed on Thursday,...

US Consumer Sentiment Improves Further, Michigan Report Shows

US consumer sentiment continued to improve through the end of June, while short-term inflation expectations held at a more than two-year low. The University of Michigan’s consumer sentiment index climbed to 64.4 from a preliminary reading of 63.9, according to the final June reading...

Consumer Spending, The Main Engine Of The Economy, Slows In May

Consumer spending rose a mild 0.1% in May, but households have shown little inclination to cut back much even in the face of rising interest rates and lingering talk of recession. Analysts polled by the Wall Street Journal had forecast 0.2% increase in spending. Incomes increased 0.4% in May,...

U.S. Inflation Slows, PCE Shows, But Price Pressures Still Intense

The cost of goods and services rose a scant 0.1% in May and pointed to a gradual easing in U.S. inflation, but prices are still rising sharply in key parts of the economy. The increase in the personal consumption expenditures index matched the Wall Street forecast. The PCE index is the Federal...

US Jobless Claims Drop by Most Since 2021 in Holiday Week

US unemployment benefits applications fell last week by the most since October 2021. Initial jobless claims decreased by 26,000 to 239,000 in the week ended June 24, which included the Juneteenth holiday, according to the Labor Department’s Thursday report. The figure was lower than all...