Economy in Brief: 2019

Manufacturers' orders for durable goods retraced the weakness apparent in last month's report. New orders for durable goods rebounded 2.0% (-1.6% y/y) during June following a 2.3% May decline, revised from -1.3%. A 0.8% June gain had [...]

Initial claims for unemployment insurance decreased 10,000 to 206,000 (-5.1% year-on-year) during the week ending July 20 from an unrevised 216,000. Two weeks ago, claims dropped to 208,000, though it included the July 4th holiday [...]

New home sales rebounded 7.0% (4.5% y/y) during June to 646,000 after falling in May to 604,000, revised down from 626,000. Sales in April and March also were revised lower. Sales of 650,000 had been expected in the Action Economics [...]

In manufacturing growth is hanging on by its fingernails or has already lost its purchase to decline. Private sector PMI raw diffusion gauges are below the value of 52 across the board. Ranked on data back to January 2015, the HIGHEST [...]

The Mortgage Bankers Association reported that its total Mortgage Applications Index fell 1.9% (+33.8% y/y) during the week ending July 19, the fourth consecutive weekly decline. The drop reflected a 1.6% shortfall (+6.2% y/y) in [...]

The National Association of Realtors reported that sales of existing homes declined 1.7% in June (-2.2% y/y) to 5.270 million (SAAR) from 5.360 million during May, revised from 5.340 million. Sales remained 6.9% higher than the recent [...]

The Federal Reserve Bank of Philadelphia reported that its Nonmanufacturing Business Index of current conditions at the company level rose to 24.6 in July from June’s 12.2. This partially reversed the June decrease from 28.1 in May. [...]

The Federal Reserve Bank of Philadelphia reported that its Nonmanufacturing Business Index of current conditions at the company level declined to 12.2 during June.... The Philadelphia Fed figures are diffusion indexes which are [...]