Economy in Brief

The Composite Index for the service and construction sectors from the Institute for Supply Management (ISM) jumped to 55.1 last month from an unrevised 53.7 during August. The latest was the highest level since March and easily beat [...]

Employment growth remained moderate last month. September private sector payrolls rose 162,000 (2.0% y/y) as reported by the payroll processor Automatic Data Processing (ADP) and economic consultants Macroeconomic Advisers. The rise [...]

The housing market continues to firm. CoreLogic reported that home prices rose 0.3% in August following a 1.4% jump during July. It was the sixth consecutive month of increase but was the weakest (by far) of the gains. Nevertheless, [...]

Car shoppers were out in-force last month. Unit sales of light motor vehicles during September gained another 3.0% m/m (13.9% y/y) to 14.96M (SAAR) according to the Autodata Corporation. The gain raised sales to their highest since [...]

Chain store sales slipped 0.3% last week (+2.4% y/y). For September sales fell 1.4% from August adding to that month's 1.8% decline. During the last ten years there has been a 72% correlation between the y/y change in chain store [...]

The pump price of regular gasoline fell three cents last week to $3.80 per gallon. Less driving again helped pump prices move lower. Haver Analytics constructs seasonal factors to reflect this pressure. After adjustment the price for [...]

The overall September Purchasing Managers Survey for manufacturing improved slightly from 48.07 in August to 48.96 in September. (Values above 50 represent expansion while values under 50 represent contraction.) Most countries [...]

The value of construction put-in-place fell 0.6% during August after a 0.4% July decline, last month reported as -0.9%. A 0.5% rise had been expected. Private sector spending led the decline with a 0.5% drop (+12.1% y/y) after a 0.3% [...]