Economy in Brief: 2019

Productivity in the nonfarm business sector grew at a greater-than-expected 2.3% seasonally adjusted annual rate during Q2’19 (1.8% year-on-year), following a slightly upwardly-revised 3.5% gain in Q1’19 (was 3.4%). The Action [...]

The Federal Reserve Bank of Philadelphia reported that its General Factory Sector Business Conditions Index declined to 16.8 in August after rising to 21.8 in July. A reading of 10.0 had been expected in the Action Economics Forecast [...]

Industrial production declined 0.2% during July (+0.5% year-on-year) following offsetting revisions to May and June -- now both 0.2% gains revised from 0.4% and unchanged respectively. The Action Economics Survey forecast a 0.1% [...]

Total business inventories were unchanged m/m (+5.2% y/y) in June versus an unrevised 0.3% m/m increase in June and a 0.5% m/m gain in April. Total business sales edged up 0.1% m/m (1.3% y/y) in June following a downwardly revised [...]

Productivity in the nonfarm business sector grew at a greater-than-expected 2.3% seasonally adjusted annual rate during Q2'19 (1.8% year-on-year), following a slightly upwardly-revised 3.5% gain in Q1'19 (was 3.4%). The Action [...]

Initial unemployment insurance claims declined to 209,000 (-3.5% y/y) during the week ended August 3....... Continuing claims for unemployment insurance eased to 1.684 million (-3.9% y/y) in the week ending July 27...... Data on [...]

Consumer spending continues to exhibit strength. Total retail sales rose 0.7% (3.4% y/y) during July following a 0.3% June rise, revised from a 0.4%. May's increase was revised to 0.5% from 0.4%. A 0.3% July sales gain had been [...]

The Empire State Manufacturing Index of General Business Conditions rose to 4.8 in August from 4.3 in July. The Action Economics Forecast Survey expected the index to have slipped to 2.0. Twenty-seven percent of respondents reported [...]