Economy in Brief: September 2002

Personal income (4.7% AR, YTD) rose slightly less than expected last month. July's figure was unrevised. Consensus expectations were for a 0.5% gain. Wage and salary disbursements (2.7% AR, YTD) rose 0.5% and recouped the 0.3% July [...]

GDP growth last quarter was revised slightly higher due to lessened deterioration in the trade deficit. Revisions elsewhere were minor. Domestic final demand growth of 1.3% was unrevised. Growth in consumer spending (1.8%) and capital [...]

Durable goods orders fell a slight 0.6% last month. Consensus expectations were for a steep 3.0% decline following an 8.6% July jump that was little revised. Much of the recent volatility in orders has been due to the transportation [...]

Sales of existing single family homes were weaker than expected in August. July's solid gain was revised up slightly. Sales have fallen in five months of this year, and August sales were 12.7% below the record pace set in January. [...]

Chain store sales slumped 1.7% last week according to the BTM-UBSW survey. The week-to-week drop in sales was the largest since one in late April. It followed two weeks during which sales were virtually unchanged. Sales in the first [...]

The Composite Index of Leading Economic Indicators, reported by the Conference Board, fell as expected last month. It was the third decline in as many months and the fourth decline in the last five. July figures were revised to show [...]

Oil prices recently have leveled off just below the $30.00 per barrel level for West Texas Intermediate crude, but strength in the energy market still is apparent in the more than 60% rise in prices since the end of last year. [...]

Housing starts were weaker than expected last month. Total starts fell 2.2% from July which was revised slightly lower due to lowered single-family starts. It was the third consecutive monthly decline in starts. Housing starts were [...]