Economy in Brief

The Composite Index for the service and construction sectors from the Institute for Supply Management (ISM) fell to 52.2 during June from 53.7 in May. This latest level was the lowest since February 2010 and disappointed consensus [...]

Initial unemployment insurance claims fell to 343,000 (-8.3% y/y) during the week ended June 29 from an upwardly revised 348,000 during the week prior. Consensus expectations were for 345,000 claims. The four week moving average of [...]

The rate of new job creation has strengthened moderately. The ADP/Moody's National Employment Report showed a 188,000 rise (1.7% y/y) in non-farm private sector jobs last month. That followed revised increases of 134,000 and 124,000 [...]

Auto dealer showrooms were bustling last month.Unit sales of light motor vehicles recovered 4.2% during June versus May to 15.96 million (SAAR), up 11.0% y/y, according to the Autodata Corporation. Setting a recovery high, sales were [...]

The value of construction put-in-place improved 0.5% (5.4% y/y) during May after a revised 0.1% April up tick. A 0.6% rise in activity had been expected. The value of public sector building gained 1.8% (-4.7% y/y) but activity was [...]

Orders to all manufacturers increased an expected 2.1% (3.6% y/y) during May, following a 1.3% April advance. The rise was led by a 3.7% jump (7.7% y/y) in durable goods bookings, little-revised from the advance report. It reflected a [...]

Consumer spending during June reached its nadir. The International Council of Shopping Centers and Goldman Sachs reported that chain store sales improved 0.3% last week (1.9% y/y), the third consecutive weekly gain. The June average [...]

The price of regular gasoline fell last week to $3.50 per gallon. The decline was the third consecutive weekly drop and was to the lowest level since early January. Prices were well below the $3.78 per gallon peak reached late in [...]