Economy in Brief: 2019

Output per hour in the nonfarm business sector grew 3.6% (SAAR) during Q1'19 following a 1.3% gain in Q4'18, revised from 1.9%. It was the strongest increase since Q3'14. During the last four quarters, productivity growth picked up to [...]

After jumping 37,000 in the April 20 week, initial claims for unemployment insurance held steady at 230,000 (8.0% year-on-year) during the week ended April 27. The April 20 number was unrevised. The Action Economics Forecast Survey [...]

In the four quarters ended Q1:2019, the chain-price index for personal consumption expenditures increased 1.4%, down from 1.9% in the four quarters ended Q4:2018. This was the slowest increase since 1.0% in the four quarters ended [...]

The value of construction put-in-place increased 1.0% (1.1% y/y) during February.......... The construction spending figures, some of which date back to 1946, are in Haver's USECON database. The expectations reading can be found in [...]

The motor vehicle weakened significantly last month. The Autodata Corporation reported that sales of light vehicles during April declined 6.1% (-4.3% y/y) to 16.39 million units (SAAR). It reversed a 5.3% March increase and left sales [...]

The Federal Open Market Committee voted unanimously at today's meeting to leave the federal funds rate target in a range between 2.25% and 2.50%. The decision was expected in the Action Economics Forecast Survey. The Fed stated that [...]

The U.K. manufacturing PMI from Markit falls to 53.1 in April from 55.1 in March. Interestingly, the averages of the various industrial gauges in the table show degradation from their respective 12-month averages to their six-month [...]

The ISM manufacturing index unexpectedly fell to 52.8 in April from 55.3 in March, making it the weakest reading since October 2016. The index remained below its expansion peak of 60.8 last August. The Action Economics Forecast Survey [...]