Economic Updates
Monday, September 14
Last Week in the News According to the Federal Reserve, consumer credit debt fell in July by $21.6 billion, an annual rate of 10.5%. It was the biggest decline since recordkeeping began in 1943. Economists had forecast consumer debt would drop $4 billion.Total consumer credit debt in July was $...
Economic Updates
Tuesday, September 08
Last Week in the News The U.S. manufacturing sector grew for the first time since January 2008. The Institute for Supply Management reported the monthly index of manufacturing activity rose to 52.9 in August from 48.9 in July. A reading above 50 signals expansion. The increase was driven by ne...
Economic Updates
Monday, August 31
Last Week in the News The Commerce Department reported new home sales jumped 9.6% in July to a seasonally adjusted annual rate of 433,000 from an upwardly revised rate of 395,000 in June. July’s sales pace was the highest since September 2008. Economists had expected a sales pace of 390,000 un...
Economic Updates
Tuesday, August 25
Last Week in the News Existing home sales rose 7.2% in July to a seasonally adjusted annual rate of 5.24 million units from a revised level of 4.89 million units in June. July marks the fourth consecutive monthly increase in existing home sales and it was the largest monthly gain since record ...
Economic Updates
Tuesday, August 18
Last Week in the News On Tuesday, August 11, the Labor Department said that productivity jumped at an annual rate of 6.4% in the second quarter of 2009. The increase was the biggest quarterly gain in nearly six years and follows a 0.3% increase in the first quarter.The Commerce Department said w...
Economic Updates
Monday, August 10
Last Week in the News On Monday, August 3, the Commerce Department reported total construction spending rose 0.3% in June to $965.7 billion. Economists had expected a 0.5% decline. Meanwhile, construction spending in May was revised slightly upward to a 0.8% decline.The Institute for Supply Ma...