Economy in Brief: November 2017

Output per hour in the nonfarm business sector grew at a 3.0% annual rate (1.5% y/y) in the third quarter following an unrevised 1.5% Q2 gain. It was the quickest productivity increase in three years. A 2.4% rise had been expected in [...]

Total sales of light vehicles declined 2.6% during October (+1.2% y/y) to 18.09 million units (SAAR) from 18.57 million in September, according to the Autodata Corporation. Nevertheless, sales remained near the highest level since [...]

At today's meeting of the Federal Open Market Committee, the target for the federal funds rate was left unchanged at 1.00%-1.25%. This was the third consecutive meeting at which the rate target had been held steady with the last rate [...]

Of the 18 countries/regions in the table, 13 showed weaker readings in October than in September. However, only Mexico and Malaysia logged a manufacturing sector reading below 50 (indicating an outright contraction in output). There [...]

The value of construction put-in-place rose 0.3% (2.0% y/y) during September following a 0.1% uptick, revised from 0.5%. No change in activity had been expected in the Action Economics Forecast Survey. Private sector building activity [...]

Activity in the manufacturing sector remained strong last month, but edged down from its September high. The ISM manufacturing sector composite index fell to 58.7 during October from September's unrevised reading of 60.8. It was the [...]

The ADP/Moody's National Employment Report indicated that private nonfarm payrolls increased 235,000 (2.1% y/y) during October. Depressed by Hurricanes Harvey & Irma, September's 110,000 gain was revised from 135,000. A 200,000 rise [...]