Economy in Brief: May 2005

The Federal Open Market Committee raised the target rate for federal funds an expected 25 basis points to 3.00%. The discount rate also was raised 25 basis points to 4.00%. The unanimous decision to raise rates was the eighth since [...]

Ever since its sharp devaluation at the end of 1993, China has pegged its currency, the Yuan, (domestically known as the renminbi) to 8.277 to the US $. Recently, calls, particularly from the United States, for an appreciation of the [...]

The total value of construction put in place rose 0.5% in March for the second month. Consensus expectations had been for a 0.3% gain. Private residential building activity rose 0.3% following an upwardly revised 1.1% increase in [...]

The April Composite Index of activity in the manufacturing sector compiled by the Institute of Supply Management fell unexpectedly to 53.3. The index has fallen steadily from the peak of 62.8 roughly one year ago. Consensus [...]

The April Composite Index of activity in the manufacturing sector compiled by the Institute of Supply Management fell unexpectedly to 53.3. The index has fallen steadily from the peak of 62.8 roughly one year ago. Consensus [...]