Economy in Brief

Nonfarm payrolls rose 222,000 (1.5% y/y) during June. It was the strongest gain since February. A 180,000 increase had been expected in the Action Economics Forecast Survey. The rise followed a 152,000 gain in May and a 207,000 April [...]

Initial claims for unemployment benefits during the week ended July 1 increased to 248,000 (-4.2% y/y) from an unrevised 244,000 in the prior week. Expectations called for 243,000 claims in the Action Economics Forecast Survey. The [...]

The Composite Index of Nonmanufacturing Sector Activity from the Institute for Supply Management (ISM) improved to 57.4 during June, and reversed virtually all of its May decline. The Action Economics Forecast Survey expected a [...]

The U.S. trade deficit in goods and services narrowed to $46.5 billion in May from April's $47.6 billion, which was only minimally revised, contrasting with $41.5 billion in May 2016. Expectations in the Action Economics Forecast [...]

German factory orders gained 1% in May as foreign orders surged by 3.1% against a drop of 1.9% in domestic orders. Domestic orders are now lower for three consecutive months. Domestic orders are some 7.7% lower than their peak in this [...]

The ADP/Moody's National Employment Report for June indicated that private nonfarm payrolls increased 158,000 (2.0% y/y) following a 230,000 May gain, revised from 253,000. A 189,000 increase had been expected in the Action Economics [...]

Manufacturing sector orders fell 0.8% during May (+6.0% y/y) following a 0.3% April decline, revised from -0.2%. Durable goods orders were off 0.8% (+5.7% y/y), revised from -1.1% in the advance report. Transportation sector orders [...]

The PMI gauge for Europe has declined in June relative to May, but the final tabulation is a bit stronger than the flash estimate. China's private sector (composite or total PMI) expanded at the slowest pace in a year on a weakening [...]