Economy in Brief: 2018

The value of construction put-in-place was unchanged during September (7.2% y/y) following a 0.8% August rise, initially reported as 0.1%. A 0.2% increase had been expected in the Action Economics Forecast Survey. In the private [...]

The ISM composite index of activity in the factory sector fell to 57.7 in October from 59.8 in September. It was the lowest index level since April. A reading of 59.0 had been expected in the Action Economics Forecast Survey. During [...]

Initial claims for unemployment insurance edged down to 214,000 (-8.5% y/y) during the week ended October 27 from 216,000 in the previous week, which was revised up by 1,000. The Action Economics Forecast Survey expected a reading of [...]

Output per hour in the nonfarm business sector grew 2.2% (SAAR, 1.3% y/y) in Q3'18 following a 3.0% gain in Q2. A 2.0% rise had been expected in the Action Economics Forecast Survey. Nonfarm business output rose 4.1% (3.7% y/y) [...]

China’s manufacturing PMI fell for the second month in a row, clinging to a value barely in the zone that signals that output is expanding (PMI values above 50). China’s manufacturing PMI has not had a reading as strong as 52 since [...]

The Mortgage Bankers Association reported that its total Mortgage Applications Index retreated 2.5% (-15.5% y/y) last week following a 4.9% increase in the prior week. Purchase loan applications fell 1.5% (-0.5% y/y) after a 2.0% [...]

The Chicago Purchasing Managers Business Barometer declined to 58.4 in October from September's 60.4. It was the third consecutive monthly decline and left the index below its December peak of 67.8. The Action Economics Forecast [...]

The ADP National Employment Report indicated that private nonfarm payrolls increased 227,000 (2.0% y/y) during October following a 218,000 September rise, revised from 230,000. Expectations had been for a 185,000 gain in the Action [...]