Economy in Brief: June 2017

Following three months of decline, the Empire State Manufacturing Index of General Business Conditions for June jumped to 19.8 from -1.0 in May. It was the highest level since September 2014. A reading of 4.5 was expected in the [...]

The EMU trade surplus contracted significantly in April to 19.6 billion euros from 22.2 billion euros. Still, the year-over-year shrinkage is small. The balance of trade for the manufactured goods surplus fell by 5 billion euros [...]

The Philadelphia Federal Reserve reported that its General Factory Sector Business Conditions Index declined to 27.6 during June and reversed most of May's jump to 38.8 in May. The latest monthly reading compared to expectations for [...]

The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo declined 2.9% to 67 during June following the May increase to 69, revised from 70. The index remained 11.7% higher y/y. The NAHB figures are [...]

Import prices fell 0.3% in May (2.1% y/y) following April's 0.2% increase, which was revised from 0.5%. The Action Economics Forecast Survey anticipated no change. These figures are not seasonally adjusted, and they can potentially be [...]

Industrial production was unchanged last month (2.1% y/y) following a 1.1% April jump, revised from 1.0%. A 0.1% rise had been expected in the Action Economics Forecast Survey. Manufacturing sector output declined 0.4% (+1.4% y/y) [...]

Initial unemployment insurance filings during the week ended June 10 fell to 237,000 (-12.3% y/y) from an unrevised 245,000 during the prior week. Expectations called for 240,000 claims in the Action Economics Forecast Survey. The [...]

At today's meeting of the Federal Open Market Committee, the targeted federal funds rate was increased 25 basis points to a range of 1.00% to 1.25%. The targeted range has been raised four times since the low of 0.12% in place from [...]