Economy in Brief

New orders in the manufacturing sector improved 0.4% during July (-15.2% y/y) following a 2.2% June jump. A 0.7% rise was expected in the Action Economics Forecast Survey. Durable goods orders rose 2.2% (-20.2% y/y) following 4.1% [...]

Nonfarm productivity growth during Q2'15 was revised higher to 3.3% from 1.3% reported initially (SAAR). Revision to 2.3% growth was expected in the Action Economics Forecast Survey. Last quarter's gain followed two of quarters of [...]

The ADP/Moody's National Employment Report indicated that nonfarm private sector payrolls increased 190,000 during August following a 177,000 July rise, initially reported as 185,000. The gain fell short of consensus expectations for [...]

The PPI headline shows a monthly drop of 0.2% in July and a year-over-year decline of 2.1%. Two of the three PPI components are declining year-over-year. Those two are consumer goods and intermediate goods. Capital goods prices are up [...]

The light vehicle market remains on fire. Total sales of light vehicles increased 1.5% during August to 17.81 million units (SAAR, 2.8% y/y). It was the highest level of sales since July 2005. Light truck purchases led last month's [...]

The value of construction put-in-place increased 0.7% during July following an upwardly revised 0.7% rise in June. May's increase was revised higher to 2.3%. Three-month growth eased to 15.7% (AR), roughly half the growth as of June. [...]

The Composite Index from the Institute for Supply Management (ISM) fell to 51.1 during August following an unrevised decline to 52.7 in July. It was the lowest level since May 2013. An unchanged 52.7 had been expected in the Action [...]

Economic weakening is real. Oil tried to put on a brave face earlier this week. The rumors of some unspecified Saudi deal swirled. But in the end there is no Saudi deal. And global growth is weak, undermining the ability for any deal [...]