Economy in Brief

Crude oil prices fell slightly during the past week, but concerns over supply disruptions have raised the spot market price of West Texas Intermediate crude more than 60% since the lows set early this year. Wholesale gasoline prices [...]

Durable goods orders recovered much more than expected last month after June's collapse which was revised deeper. July's jump was the largest one month rise since last October and raised orders 7.5% year to date. Orders for nondefense [...]

Sales of new single family homes last month were stronger than Consensus expectations for a 975,000 sales rate. June sales were revised lower. July sales were a record. Sales were mixed across the country’s regions: rising sharply in [...]

The Federal Reserve Survey of Senior Loan Officers indicated that lending standards to both large and small firms have eased. In the latest survey, 21.4% of banks tightened lending standards to large firms versus nearly 60% that were [...]

Initial claims for unemployment insurance were slightly higher than expected in the latest week. Claims fell slightly versus the prior week which was revised up. The latest figure covers the survey period for August nonfarm payrolls. [...]

The July US budget deteriorated about as expected. A monthly deficit of $30.0B had been expected versus last year's July surplus of $2.8B. Deficits are typical for July. Only in 2000 and 2001 were small surpluses recorded. Receipts [...]

The U.S. foreign trade deficit improved slightly in June, about as expected, versus a record May deficit that was deepened slightly. Trade deficits in 2Q02 ran at a $444.6B annual rate versus a $373.3B rate in 2Q01. Exports rose [...]

The Composite Index of Leading Economic Indicators fell slightly less than expected last month. It was the third decline in the index during the last four months. June figures were revised down and now show a decline versus the [...]