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8/20/08 Japan's exports rebounded in July as China replaced the U.S. as the nation's largest customer.
8/19/08 U.S. Labor producer price index rose 1.2% in July, and up 9.8% YoY
U.S. housing starts were at an annual rate of 965,000 units in July, down 11% from June's pace, and down 30% YoY.
8/15/08 U.S. industrial production rose 0.2% in July, better than expected
The New York Federal Reserve's regional index of manufacturing rose from -4.92 to +2.77, better than expected.
The University of Michigan's index of consumer sentiment rose from 61.2 to 61.7
8/14/08 U.S. consumer prices rose 0.8% in July and 5.6% YoY.
The National Association of Realtors said YoY the prices of single family homes fell 7.6% in the second quarter.
8/12/08 U.S. Exports rose $6.4 billion to $164.4 billion in June - imports rose $4.0 billion to $221.2 billion. The result was $56.8 billion of net imports - narrowing the trade deficit unexpectedly.
The Philadelphia Federal Reserve expects GDP to be up an annual rate of 1.2% in the third quarter, less than previously thought.
8/8/08 U.S. worker productivity rose 2.2% in the second quarter.
U.S. wholesale sales rose 2.8%
U.S. Inventories rose 1.1%.
8/7/08 U.S. pending home sales rose 5.3% in June, better than expected. YoY pending home sales are down 12.3%.
U.S. jobless claims rose 7,000 last week to 455,000, more than expected
8/5/08 The Fed met and kept rates unchanged at 2.0%, as expected.
The Institute of Supply Management's index of services increased from 48.2 to 49.5
A national container fee may be the most equitable means available to raise the billions of dollars needed to build freight infrastructure, a congressional hearing is told.
8/4/08 YoY U.S. Consumer prices rose 4.1% in June, up from 3.5% in May, for the biggest annual gain since May 1991.
U.S. personal incomes rose 0.1% in June. Adjusting for inflation, spending fell 0.2%.
U.S. factory orders rose 1.7% in June, more than expected.
7/24/08 U.S. existing home sales fell 2.6% on the month.
U.S. jobless claims rose 34,000 last week to 406,000.
7/23/08 (Reuters) - The United States faced increasing inflationary pressures in recent weeks amid slowing economic growth, the Federal Reserve said on Wednesday, as it described conditions in some areas as "grim," "morose" or "bleak."
7/22/08 Richmond Federal Reserve regional index of manufacturing fell from -12 to -16 in July
7/19/08 U.S. consumer prices rose 1.1% in June and 5.0% YoY, the biggest yearly jump since 1991. Excluding food and energy, prices rose 0.3% in June and 2.4% YoY.
U.S. industrial production rose 0.5% in June.
7/9/08 Bill Bonner figures that currently, the U.S. money supply – as measured by M3 – is increasing at an annual rate of about 18%.
7/3/08 U.S. unemployment rate remained at 5.5% in June.
U.S. jobless claims were up 16,000 to 404,000.
The Institute of Supply Managements' index of services fell from 51.7 to 48.2 in June.
7/2/08 U.S. factory orders rose 0.6% in May.
7/1/08 The Institute of Supply Management's manufacturing index rose from 49.6 to 50.2 in June, stronger than expected.
U.S. construction spending fell 0.4% from April's pace and down 6.0% YoY
YoY U.S. auto sales in June were down 28%
6/30/08 The Chicago Purchasing Managers' index rose from 49.1% to 49.6% in June
6/26/08 U.S. GDP rose 1.0% in the first quarter and up 2.5% YoY.
U.S. existing home sales were at an annual rate of 4.99 million units, up 2.0% in May. At the current sale pace, this represent a 10.8 month supply.
6/25/08 U.S. New home sales were at an annual rate of 512,000 units in May, down 2.5% from April's pace. YoY new home sales are down 37%.
U.S. Durable goods orders were unchanged. Excluding transportation, orders were down 0.9%.
6/24/08 The S&P/Case-Shiller index of U.S. home prices fell 1.4% in April and down 15.3% YoY.
The Conference Board's index of consumer confidence fell from 58.1 to 50.4 in June
The Richmond Federal Reserve's index of manufacturing fell from -3 to -12 in June
6/19/08 U.S. leading indicators rose 0.1% in May -- better than expected.
The Philadelphia Federal Reserve's regional index of manufacturing fell from -15.6 to -17.1 -- weaker than expected.
The U.S. Labor Department said that jobless claims fell 5,000 last week to 381,000.
6/17/08 U.S. producer prices rose 1.4% in May and 7.2% YoY.
U.S. housing starts fell 3.3% from April's pace. It was the smallest number of housing starts in 17 years.
U.S. industrial production fell 0.2% in May,
6/10/08 The U.S. trade gap grew 7.8 % to $60.9 billion, its biggest one-month gain since September 2005
5/30/08 U.S. personal incomes rose 0.2% in April
U.S. Consumer spending rose 0.2%.
The University of Michigan's index of consumer sentiment fell from 62.6 to 59.8 in May
The Chicago purchasing managers' index increased from 48.3 to 49.1 in May
The U.S. core rate of personal consumption expenditures, an inflation gauge, rose 0 .1% in April and up 2.1% YoY.
5/27/08 The S&P/Case-Shiller home-price index fell 14.4% YoY.
The Conference Board said its monthly measure of consumer confidence fell to 57.2 from 62.3 in April -below Wall Street's estimate of 60.0.
5/21/08 In its latest minutes, the Fed cut its forecast for economic growth in 2008, and warned of higher inflation and unemployment, but also signaled it was unlikely to cut interest rates again soon.
Israel’s Prime Minister Olmert urged the United States to impose a naval blockade on Iran.
5/17/08 U.S. Home construction rose 8.2% in April, making the biggest increase in two years. However, the rise was driven by a surge in multifamily housing, while single-family starts dropped.
The University of Michigan said that its consumer sentiment index fell from 62.6 to 59.5 in May.
5/7/08 U.S. worker productivity rose at an annual rate of 2.2% in the first quarter.
U.S. unit labor costs rose at an annual rate of 2.2% in the first quarter.
U.S. pending home sales index fell 1.0% in March and down 20.1% YoY.
4/30/08 The Fed reduced the federal funds rate to 2.00%
U.S. GDP rose 0.6% QoQ and 2.5% YoY.
U.S. employment cost index rose 0.7% QoQ and 3.3% YoY.
The Chicago Purchasing Managers' index rose from 48.2 to 48.3
4/29/08 According to the Standard & Poor's Case-Shiller home price index U.S. home prices fell 12.7% YoY.
The Conference Board index of consumer confidence fell from 65.9 to 62.3 in April
4/23/08 U.S. Durable goods orders fell 0.3% in March. Excluding transport, orders rose 1.5% -- stronger than expected.
U.S. New home sales were at an annual rate of 526,000 in March, down 8.5% from February's pace and down 36.6% YoY. New homes for sale rose from 10.2 to an 11-month supply.
The U.S. Labor Department said that jobless claims fell 33,000 to 342,000, fewer than expected.
4/22/08 The National Association of Realtors said existing home sales fell 2% MoM, and 19% YoY.
The Richmond Fed's regional index of manufacturing fell from +6 to 0 in April.
4/19/08 (Reuters) "I think the most important thing for the Fed to do is not just use moral suasion, but a baseball bat with respect to the banking system," Paul McCulley, managing director at bond fund manager PIMCO, told a conference in response to a question from Fed Vice Chairman Donald Kohn.
4/16/08 U.S. consumer prices rose 0.3% in March and 4.0% YoY. Without food and energy, prices rose 0.2% in March and 2.4% YoY.
U.S. housing starts fell 11.9% MoM and 36.5% YoY
4/15/08 U.S. producer prices rose 1.1% in March. Excluding food and energy costs, prices rose 0.2%
The New York region of the Federal Reserve announced that manufacturing activity beat trade expectations in April.
(AP) -- Lehman Brothers Holdings Inc. Chief Executive Richard Fuld joined a growing chorus of investment bank executives in saying on Tuesday that the worst of the credit crisis is behind Wall Street.
4/11/08 The University of Michigan's consumer sentiment index fell from 69.5 to 63.2, the lowest since 1982.
Results from industrial bellwether General Electric missed estimates, re-igniting concerns that corporate profits would not escape financial market turmoil.
Greenspan says the U.S. economy is in recession, adding it would be appropriate to use public funds to reverse the effects of the nation's credit crisis.
(WSJ) Bush and his wife paid $221,635 in federal taxes on income of $923,807 for 2007, a year that included an advance for a children's book. The Cheneys' taxes were $602,651 on $3.04 million in income.
Lehman repackaged some of its unsold buyout loans into a new security that it used as collateral to obtain cash loans from the Fed. Other Wall Street investment banks, known for their “ingenuity”, are expected to follow suit.
4/9/08 (FT) The world's leading banks have accepted much of the blame for the credit crisis in an attempt to stave off calls for more regulation, even as the International Monetary Fund slashed global growth estimates and warned that the US would suffer a recession.
4/4/08 U.S. unemployment rate rose from 4.8% to 5.1% in March
4/2/08 U.S. factory orders fell 1.3% in February, weaker than expected
Weak dollar boosts Long Beach (CA) exports 36%, but cuts imports 7.6% in February.
3/31/08 The Chicago Purchasing Managers' index rose from 44.5 to 48.2 in March.
3/28/08 U.S. Personal incomes rose 0.5% in February, better than expected. Consumer spending rose 0.1%.
The University of Michigan's consumer sentiment index fell from 70.8 to 69.5
3/27/08 U.S. GDP was unrevised at 0.6% growth for the fourth quarter of 2007, the slowest pace since late 2002.
3/25/08 Standard & Poor's/Case-Shiller index of U.S. home prices fell by 11.4% in January, the biggest monthly drop since the index began in 1987
The Conference Board's consumer confidence index fell from 76.4 to 64.5 in March, weaker than expected -- it’s the lowest in 34 years.
2/21/08 The Philadelphia Fed's regional index of manufacturing fell from -20.9 to -24.0
The Conference Board's index of leading indicators fell 0.1% in December
2/19/08 The Supreme Court turned down a legal challenge to the warrantless domestic spying program Bush created.
Banks "quietly" borrowed $50 billion from the Fed.
2/14/08 U.S. exports rose $2.2 billion in December, while imports fell $2.2 billion—resulting in $58.8 billion of net imports.
2/13/08 U.S. retail sales rose 0.3% in January -- better than expected.
2/8/08 The U.S. Congress passed and sent to Bush a $168 billion economic stimulus package.
2/6/08 U.S. non-farm productivity rose 1.8% QoQ and 2.6% YoY, stronger than expected.
U.S. unit labor costs rose 3.1% in 2007.
2/5/08 The Institute of Supply Managements' index of services fell from 54.4 to 41.9 in January, weaker than expected.
2/4/08 U.S. factory orders rose 2.3% in December-- less than expected. Excluding transportation, orders rose 0.7%.
Bush wants to spend $3.1 trillion in 2008-2009, up 76% since1999.
2/1/08 U.S. lost 17,000 non-farm jobs in January. This was the first monthly loss in 4-1/2 years and increases the likelihood the Fed will cut interest rates another half point next month.
Microsoft wants to buy Yahoo for $45 billion in stock and cash.
The Institute of Supply Managements' manufacturing index rose from 48.4 to 50.7
U.S. Construction spending fell 1.1% MoM, and 2.6% YoY.
The University of Michigan's consumer sentiment index rose from 75.5 to 78.4
1/30/08 The Fed cut its key lending rate by one-half percentage point to 3%
U.S. GDP rose 0.6% QoQ and 2.5% YoY, weaker than expected.
1/29/08 According to Standard & Poor's/Case-Shiller, U.S. home prices fell 8.4% YoY. With double-digit declines recorded in some hard-hit areas, such as Miami, San Diego, Las Vegas and Detroit.
1/29/08 U.S. durable goods orders rose 5.2% in December, much more than expected. Excluding transportation orders rose 2.6%.
Consumer confidence fell from 90.6 to 87.9 in January.
1/28/08 U.S. New-home sales fell 4.7% MoM, and 26% YoY. The median price of a new home fell 10% YoY to $219,200.
1/24/08 U.S. existing home sales are down 2.2% MoM and down 22% YoY.
Prices of single family homes were down 1.8% in 2007 -- the first decline since records began four decades ago.
The U.S. Labor Department said that jobless claims were down 1,000 last week to 301,000.
1/22/08 The Fed cut the fed funds rate 0.75% to 3.50%.
The White House said Bush isn't ruling out a larger economic stimulus package than the $150 billion already proposed.
B of A profit drops 95%.
1/17/08 U.S. housing starts fell 14.2% MoM. YoY, housing starts are down 25%.
The Philadelphia Federal Reserve's index of manufacturing fell from -1.6 to -20.9, the lowest in six years.
1/15/2008 U.S. producer prices fell 0.1% in December and rose 6.3% YoY,
The New York Fed’s index of manufacturing sentiment fell from 9.8 to 9.0 in January.
U.S. retail sales in December fell 0.4% MoM, and rose 4.1% YoY.
Citigroup wrote off $18.1 billion and slashed its dividend by 41%.
1/7/08 Bush acknowledged that economic indicators are causing worry for Americans, but said the economy is resilient. Paulson stressed the administration is combating the country's housing crisis.
QoQ the U.S. office vacancy rate rose to 12.6%. This is the first increase after 16 consecutive quarterly declines.
1/3/08 U.S. Factory orders rose 1.5% in November, the most in four months, according to the Commerce Department - versus 0.5% expected.
A report from ADP Employer Services showed companies in the U.S. added 40,000 jobs in December, more than expected.
12/19/07 Bush signed legislation that requires auto makers to raise fuel efficiency by 40% to an industry average 35 miles per gallon by 2020. It also ramps up production of ethanol use to 36 billion gallons a year by 2022.
12/13/07 U.S. Retail sales rose 1.2% in November, much stronger than expected. Excluding autos, sales were up 1.8% in November.
Prices paid to U.S. producers rose 3.2% in November and up 7.2% YoY— the fastest pace in 34 years. Excluding food and energy, prices rose 0.4% in November.
12/12/07 The Fed announced coordinated measures with the Bank of Canada, European Central Bank, and Swiss National Bank to add liquidity to the markets.
12/11/07 The National Association of Realtors said the pending U.S. home sales index was up 0.6% in October but down 18.4% YoY.
A trade group for real-estate agents said the battered housing market is on the verge of stabilizing and raised its outlook for 2007 and 2008 home sales.
12/6/07 (Reuters) - Housing markets from Punta Gorda, Florida, to Stockton, California, will crash and suffer price drops of more than 30 percent before the housing crisis is over, a report from Moody's Economy.com said.
YoY Oct. traffic at major US container ports fell 3.5%.
U.S. Jobless claims fell 15,000 last week to 338,000.
U.S. Treasury Secretary Paulson announced a plan to help roughly 1.2 million distressed homeowners avoid foreclosure.
12/5/07 The Institute of Supply Managements' index of services fell from 55.8 to 54.1 -- still recording growth.
U.S. Productivity rose 6.3% -- the most since 2003
US consumer confidence declined to 24 from 21 last week.
U.S. factory orders rose 0.5% in October.
U.S. non-farm productivity rose 2.7% -- better than estimated.
U.S. Unit labor costs rose 3.0%.
12/3/07 U.S. Treasury’s Henry Paulson is confident an agreement will soon be reached that will help thousands of homeowners avoid mortgage defaults by temporarily holding their interest rates steady.
The Institute for Supply Management’s manufacturing index fell to 50.8 in November -- the fifth straight monthly decline.
The U.S. national debt is expanding by about $1.4 billion a day -- or nearly $1 million a minute.
The U.S. average price of diesel pushed past a record level for the third time in four weeks, rising 3.4 cents a gallon to $3.444.
11/30/07 U.S. Personal incomes rose 0.2% in October.
Personal consumption expenditures rose 0.2% in October and 1.9% YoY.
The Federal Reserve would not hesitate to act to prevent financial strains from damaging the economy and any steps it does take are not made to shield investors, a top Fed official said on Friday.
U.S. Construction spending fell 0.8% MoM and 0.6% YoY.
The Chicago purchasing managers index rose from 49.7 to 52.9, stronger than expected
Moody's downgraded or put on review debt totaling $119 billion that was issued by SIVs, including some tied to Citigroup.
Congress may legislate a boost in fuel-economy standards to 35 miles a gallon by 2020.
11/27/07 The Dow industrials rose 215 on Citigroup's cash infusion from Abu Dhabi, and a more than $3 break in oil. Middle Eastern and Asian investment funds have invested an estimated $37bn in shares of western financial companies so far this year.
U.S. Home prices fell 4.5% in the third quarter from a year earlier
The Conference Board's index of consumer confidence fell from 95.2 to 87.3, the lowest score since Hurricane Katrina.
11/10/07 U.S. Trade shortfall of $56.5 billion was less than expected.
The University of Michigan's consumer sentiment index dropped from 80.9 to 75.0 in November, the lowest in two years.
10/31/07 The Federal Reserve reduced the federal funds rate from 4.75% to 4.50%, as expected. The discount rate was reduced from 5.25% to 5.00%
U.S. GDP rose 3.9% YoY, the best quarterly performance in over a year.
U.S. employment cost index rose 0.8% QoQ and up 3.3% YoY.
U.S. Personal consumption rose 1.9%
U.S. construction spending rose 0.3% QoQ. YOY construction spending is down 3.2%
The Chicago purchasing managers' index fell from 54.2% to 49.7%, weaker than expected
10/25/07 U.S. New home sales fell 23% YoY.
U.S. Durable goods orders fell 1.7% in September, weaker than expected. Excluding transport orders rose 0.3% in September.
The U.S. Fed is close to agreeing to changes in its communication strategy, including quarterly publication of internal forecasts, but it will not adopt an inflation target any time soon.
10/24/07 U.S. Existing home sales fell 8.0% from August's pace -- the lowest since records began in 1999.
10/18/07 The number of U.S. workers filing new claims for jobless aid jumped by 28,000 last week, more than expected and the biggest increase for any week since February.
The Philadelphia Federal Reserve's regional index of manufacturing dropped from 10.9 to 6.8 in October, a sign of slower growth.
U.S. leading indicators rose 0.3% in September
10/17/07 U.S. Housing starts were down 10.2% MoM and down 31% YoY.
U.S. consumer prices rose 0.3% MoM and 2.8% YoY
The adjustment from recent financial market turmoil is "far from over" though the situation seems to have improved, a senior New York Federal Reserve Bank official said.
The Fed’s Beige Book said economic activity continued to expand in all Districts in September and early October but the pace of growth decelerated since August.
10/12/07 The income gap between the wealthiest and poorest Americans grew to its widest level since the 1920s
10/12/07 U.S. Producer prices rose 1.1% in September and 4.4% YoY.
U.S. Retail sales rose 0.6% in September. Without transport sales rose 00.4%
10/11/07 The U.S. deficit in international trade of goods and services shrank 2.4%.
10/4/07 The Institute of Supply Management said its index of services dropped from 55.8 to 54.8, about as expected.
Democratic leaders in the U.S. Congress called for the appointment of a "mortgage czar" to help stem a jump in foreclosures.
9/29/07 The PCE deflator, a core measure of consumer prices, rose 1.8%.
U.S. Personal incomes rose 0.3% in August and consumer spending rose 0.6%, more than expected.
The U.S. Census Bureau said construction spending was up 0.2% from July's pace. YoY construction spending is down 3.3%.
The Chicago purchasing-managers' index rose from 53.8 to 54.2
9/28/07 New homes sales in the U.S. dropped 8.3 percent to an annual pace of 795,000 in August. The median price dropped 7.5 % YoY.
The Commerce Department reported the economy grew at 3.8% down from 4% in the previous quarter. YoY GDP remained up 1.9%
The GDP's price index was up an annual rate of 2.6% in the second quarter, down from a 4.2% gain in the first quarter.
9/21/07 A big overhang of property will bring U.S. house prices down further, but it is too early to say if the economy will sink into recession, former Fed chief Alan Greenspan was quoted as saying.
9/6/07 Retail sales increased 2.9% in August, the International Council of Shopping Centers said, exceeding the group's forecast of 2.5%.
The U.S. Labor Department said that jobless claims were down 19,000 last week to 318,000, less than expected.
The Labor Department said that non-farm productivity was up an annual rate of 2.6% in the second quarter of 2007, the best gain in almost two years. Unit labor costs were up an annual rate of 1.4% in the second quarter, less than expected.
8/26/07 Officials from the Federal Reserve on Saturday warned of dangers from a rising tide of trade disputes and the harmful impact on what one otherwise termed a "resilient" U.S. economy
U.S. Durable goods orders rose 5.9% in July, more than expected. Excluding transport orders rose 3.7%.
The U.S. Census Bureau said new home sales were at an annual rate of 870,000 in July, up 2.8% from June's rate. So far in 2007, new home sales are down 21% YoY.
8/10/07 The Federal Reserve joined the European and Asian Central Banks to add cash ($19 billion) to the banking system.
The idea that Beijing might use its $1.33 trillion currency reserves as a bargaining chip in trade talks with Washington is (also) unsettling markets.
8/9/07 BNP Paribas (France's largest bank) froze investor redemptions from three funds. The news caused more fears about the continued run on funds tied to US subprime mortgages.
The European Central Bank loaned 94.8 billion Euros to tone down a credit crunch.
The U.S. Treasury said the current $8.965 trillion debt limit will be reached in October.
8/8/07 U.S. wholesale sales rose 0.6% in June
U.S. Inventories rose 0.5%.
The California Air Resources Board mandated that gasoline sold in the state include 10% ethanol by the end of 2009. California consumed 1 billion gallons of ethanol this year and the new rules will likely double that figure.
8/7/07 U.S. Productivity rose 1.8%.
U.S. Unit labor costs rose 2.1%.
The Fed kept the federal funds rate unchanged and said that while tightening credit conditions had increased risks, inflation was still its main concern.
7/30/07 Treasury’s Henry Paulson said the U.S. government will hit its $8.965-trillion debt limit in early October and asked Congress to raise it.
U.S. Capital markets are losing market share to overseas competitors, but it is the bond market rather than equities that is losing ground to foreign competition, a study by the Federal Reserve Bank of New York showed.
7/23/07 U.S. Treasury Secretary Paulson said that problems in the subprime mortgage loan sector could be contained and would not hurt the overall economy. He also repeated that a strong dollar was in the U.S. interest and currency values should be set in free and open markets.
7/19/07 Losses in the fast-unraveling subprime lending market could top $100 billion, but the Federal Reserve is taking measures to protect borrowers, according to Fed Chairman Bernanke.
7/19/07 U.S. Index of leading indicators fell 0.3% in June. The index has been down in four of the past six months.
The Philadelphia Federal Reserve's regional index of factory activity fell from 18.0 to 9.2.
7/18/07 U.S. consumer prices rose 0.2% in June, up 2.7% YoY.
U.S. housing starts rose 2.3% from May's pace. YoY housing starts are down 26%.
6/29/07 U.S. Personal incomes rose 0.4% in May and consumer spending was up 0.5%.
U.S. Construction spending rose 0.9% MoM, but fell 2.2% YoY.
The National Association of Purchasing Managers' Chicago index fell from 61.7 to 60.2 in June.
The University of Michigan's consumer sentiment index fell from 88.3 to 85.3 in June.
6/26/07 The U.S. Census Bureau said new home sales were down 1.6% from April's pace, and down 21% YoY. This is the fourth drop in the past five months, providing further evidence of a continued slump in housing.
U.S. Index of consumer confidence fell from 108.5 to 103.9 in June -- more than expected.
6/15/07 U.S.. Consumer prices rose 0.7% in May and 2.7% YoY.
U.S. Industrial production was unchanged in May.
U.S. Capacity utilization was 81.3%, down from 81.5% MoM.
The New York Federal Reserve's index of manufacturing rose from 8.0 to 25.8 in June, the highest level in a year.
The University of Michigan’s consumer sentiment index dropped from 88.3 to 83.7 in June.
5/25/07 The National Association of Realtors reports U.S. existing home sales down 2.6% from March's pace and the lowest level in over three years. Current inventories of homes for sale represent an 8.4 month supply, the most in 15 years.
5/24/07 U.S. New home sales were up 16.2% from March's pace and stronger than expected. YoY new home sales are down 20%. New homes for sale in the U.S. are at a 6.5 month supply.
U.S. Durable goods orders were up 0.6% in April, weaker than expected.
U.S. Jobless claims were up 15,000 last week to 311,000.
5/18/07 Fed Chairman Bernanke says the central bank is considering tougher rules to crack down on abusive practices by mortgage lenders. But he says the economy should escape without significant harm from the problems in the subprime market.
5/18/07 The University of Michigan's consumer sentiment index rose from 87.1 to 88.7
5/17/07 U.S. Jobless claims were down 5,000 last week to 293,000, the lowest in four months.
The Philadelphia Federal Reserve's index of regional manufacturing increased from 0.2 to 4.2 in April, stronger than expected.
U.S. Index of leading indicators was down 0.5% in April with eight of the ten components showing a decrease.
5/10/07 The U.S. trade shortfall rose 10.4 % to $63.9 billion in March.
The Fed’s holdings of Treasury and agency debt kept for overseas central banks rose $8.167 billion in the week ended May 9, to stand at $1.937 trillion.
5/8/07 U.S. wholesale sales were up 1.8% in March while inventories were up 0.3%. YoY wholesale sales were up 8.4%.
5/1/07 The US manufacturing grew more strongly than expected. The Institute for Supply Management manufacturing index rose to 54.7 in April from March's 50.9.
The National Association of Realtors said pending U.S. home sales fell 4.9% in March, more than expected.
4/26/07 U.S. Jobless claims were down 20,000 last week to 321,000, the lowest in a month.
4/25/07 U.S. durable goods orders rose 3.4% in March.
U.S. new home sales were at an annual rate of 858,000 in March up 2.6% MoM, but weaker than expected. For 2007, new home sales are down 23% YoY.
4/24/07 The National Association of Realtors said that U.S. existing home sales were at an annual rate of 6.12 million units in March, down 8.4% from the previous month and weaker than expected. YoY Median home prices were down 0.3% in March.
U.S. consumer confidence dropped from 108.2 to 104.0 in April, more than expected.
4/17/07 U.S. consumer prices rose 0.6% in March and up 2.8% YoY. Excluding food and energy costs, prices rose 0.1% in March and up 2.5% YoY
U.S. housing starts were at an annual rate of 1.518 million units up 0.8% from February's, but down 23% YoY. So far in 2007, housing starts are down 30% YoY.
U.S. banking regulators urged lenders on Tuesday to help distressed borrowers unable to make mortgage payments and offered possible incentives to move homeowners to lower-cost loans.
U.S. industrial production was down 0.2% in March and up 2.3% YoY, weaker than expected.
4/4/07 The Institute of Supply Management's index of U.S. services dropped from 54.3 to 52.4 in March.
Factory orders rose 1% in February following the biggest drop in six years, the Commerce Department said Wednesday
4/3/07 The National Association of Realtors said U.S. pending home sales increased from 108.5 to 109.3 in February, more than expected.
4/2/07 Federal Reserve Bank of St. Louis President William Poole said the U.S. central bank's main concern remains inflation and he could be inclined to raise interest rates if price pressures did not ease.
New Century Financial Corp. filed for bankruptcy Monday amid a surge in homeowner defaults, the biggest mortgage lender to collapse in the U.S. housing market.
The Supreme Court Monday ordered the federal government to take a new look at regulating carbon dioxide emissions from vehicles, in a rebuke to the Bush administration’s policy on global warming, the Associated Press reported.
The Institute of Supply Management's index of manufacturing dropped from 52.3 to 50.9 in March, slightly weaker than expected.
4/1/07 U.S. Personal income was up 0.6% in February and U.S. consumer spending rose 0.6%.
U.S. Core rate of personal consumption expenditures rose 0.3% in February and 2.4% YoY.
The University of Michigan's consumer sentiment index fell from 91.3 to 88.4 MoM.
The Chicago purchasing managers index rose from 47.9 to 61.7 MoM, more than expected.
U.S. Construction spending rose 0.3% MoM.
The U.S. said it will impose duties on imports of coated paper from China, raising fears of protectionism.
3/26/07 U.S. New home sales were weaker than expected down 3.9% from January's pace. This # is dimming hopes for a rebound in the housing market and increasing worries about the health of the economy
3/14/07 The Mortgage Bankers Association said that its index of mortgage application increased 2.8% last week, the highest level this year.
3/13/07 U.S. Retail sales rose 0.1% in February, the Commerce Department reported Tuesday.
3/12/07 The U.S. government posted at $120 billion deficit in February, slightly larger than the deficit a year ago. For the first five months of the new fiscal year, the deficit is $162.2 billion, down 25% YoY.
3/6/07 U.S. Factory orders were down 5.6% in January, the biggest monthly drop in over six years.
3/5/07 The Institute of Supply Management's index of U.S. services dropped from 59.0 to 54.3 in February
Global causes may on balance have boosted U.S. inflation, but globalization has not affected the ability of the Federal Reserve to influence U.S. financial conditions, Fed Chairman Ben Bernanke said.
2/28/07 The Bureau of Economic Analysis changed its estimates of fourth quarter GDP growth sharply downward, to 2.2% compared with a previous estimate of 3.5%.
New home sales fell by 16.6%, the Commerce Department said Wednesday. The monthly decline was the biggest, since a 23.8 percent drop-off in January 1994. The median sales price of a new U.S. home rose $400 to $239,800.
The Chicago PMI fell to 47.9%, its lowest level since April 2003, suggesting contraction. MoM the prices paid component rose to 63.2 from 54.9.
2/21/07 U.S. Consumer prices were up 0.2% in January and up 2.1% YoY. Excluding food and energy, prices were up 0.3% in January and up 2.7% YoY.
U.S. index of leading indicators were up 0.1% in January, less than expected
2/15/07 U.S. Industrial production fell 0.5% in December, the most in over a year.
The price of goods imported to the United States fell 1.2% in January, the most in three months.
First-time U.S. jobless jumped last week by 44,000, the biggest increase since September 2005, the Labor Department said Thursday
International investors slowed their purchases of U.S. stocks and bonds in December. They purchased $63.0 billion U.S. securities while U.S. investors bought $47.4 billion of foreign securities. This is the lowest net funds inflow in five years.
2/12/07 The number of U.S. homes entering foreclosure rose to 130,511 in January, up 25% YoY.
2/12/07 The U.S. government posted a $38.24 billion budget surplus in January, up 82.4 % YoY.
2/9/07 U.S. Nonfarm business productivity had an annual gain of 3.0% in the fourth quarter, more than expected.
The U.S. savings rate has fallen to a 74-year low.
1/30/07 The Conference Board said the consumer confidence index increased from 110.0 to 110.3 in January.
1/17/07 U.S. industrial production rose 0.4% in December and 4.0% in 2006
U.S. Capacity utilization out at 81.8%.
The producer price index rose 0.9% in December and 1.1% YoY. Excluding food and energy, prices were up 0.2% and up 2.0% YoY.
Foreign purchases of long-term U.S. securities totaled $107.4 billion while U.S. purchases of foreign securities totaled $39.1 billion.
1/16/07 The New York Federal Reserve's regional index of manufacturing dropped from 22.19 to 9.13 in January, weaker than expected.
1/12/07 U.S. Retail sales rose 0.9% in December, more than expected.
1/10/07 The U.S. trade deficit narrowed in November to its smallest level since July 2005. Exports were up 0.9% in November to $124.8 billion while imports were up 0.3% at $183.0 billion.
1/4/07 U.S. factory orders rose 0.9% in November. Excluding transportation, orders were down 0.5%.
The Institute of Supply Management's U.S. index of services dropped from 58.9 to 57.1
US jobless claims were up 10,000 to 329,000.
1/3/07 The Institute of Supply Management's index of U.S. manufacturing increased from 49.5 to 51.4 in December, more than expected.
U.S. Federal Reserve officials agreed at their December meeting inflation was the main concern, but some felt the "subdued tone" of economic data meant risks to growth had increased, minutes released on Wednesday showed.
U.S. Treasury Secretary Henry Paulson supported a White House plan to balance the budget by 2012, saying it could be accomplished with low taxes, strong job and productivity growth and restrained spending.
U.S. Construction spending in November was down 0.2% from October's pace. In the first eleven months of 2006, construction spending was up 5.4% YoY.
12/28/06 U.S. Consumer confidence rose from 105.3 to 109.0, an eight-month high, the New York-based Conference Board reported.
The National Association of Realtors said that U.S. existing home sales were at an annual rate of 6.28 million units in November, up .6% from October's pace, but still down 10.7% YoY.
The Chicago Purchasing Managers' index rose from 49.9 to 52.4 in December, more than expected.
12/26/06 Personal income increased $33.8 billion, or 0.3 %, and disposable personal income increased $27.0 billion, or 0.3 %, in November. Consumer spending was up 0.5%, the most in four months.
U.S. Durable goods orders were up 1.9% in November. Excluding transportation, orders were down 1.1%, more than expected.
The University of Michigan's consumer sentiment index dropped from 92.1 to 91.7 in December, better than expected.
The confidence of American consumers slipped in the latest week, with buyers "shopped out" by the Christmas holiday, ABC News and The Washington Post said on Tuesday.
The Richmond Fed index of regional manufacturing fell from +7 to -6 in December, more than expected.
12/19/06 The U.S. Labor Department said that producer prices were up 2.0% in November, the biggest gain since 1974. YoY producer prices were up 0.9% and the core rate of producer prices was up 1.8% YoY.
U.S. Housing starts came in at an annual rate of 1.588 million units in November, up 6.7% from October's pace. So far in 2006 housing starts are down 12.5% YoY.
Confidence of American consumers held at a 2006 high last week, ABC News and The Washington Post said on Tuesday.
12/15/06 The White House has approved a $468.9 billion Pentagon budget for 08, a six-percent increase YoY.
12/15/06 U.S. Consumer prices were unchanged in November and up 2.0% YoY, less than expected. Excluding food and energy costs, prices were up 2.6% YoY.
Foreign purchases of U.S. securities totaled $102.0 billion in October while U.S. purchases of foreign long-term securities totaled $19.7 billion.
U.S. Industrial production rose 0.2% in November, up from October's 0.5% drop.
12/14/06 The price of goods imported to the United States rose 0.2% in November after falling more than 2% in the previous two months, the Labor Department said Thursday.
U.S. Jobless claims were down 20,000 to 304,000, less than expected.
12/13/06 U.S. Retail sales were up 1.0% in November, more than expected. Excluding autos and gasoline, sales were up 0.9%.
12/12/06 The Federal Reserve left the federal funds rate at 5.25%, noting the economy has slowed and is hurt by "substantial cooling" in the housing market. The statement, left open the possibility the central bank might increase rates if inflation speeds up.
US Trade Balance at -$58.9B vs. -$63.0B expected.
U.S. Federal budget deficit at $75.6 billion in November, down from $83.1 billion YoY.
12/11/06 U.S. Economic growth will slow and inflation will ease in 2007, with energy prices and a falling dollar posing the biggest risks to a pick-up in prices, a panel of Wall Street analysts forecast on Monday.
The National Association of Realtors expects U.S. existing home sales down 8.6% in 2006 and down 1.0% in 2007.
Major oil-exporting countries have been moving away from dollar deposits to increase reserves in other currencies, including the Euro and the Japanese yen, the Bank for International Settlements has said. Dollar-denominated bank deposits by OPEC members decreased by 5.3 bln $ in the second quarter of 2006, while Euro-denominated deposits rose by 2.8 bln $ and yen deposits by 3.8 bln $.
The U.S. Census Bureau said that wholesale sales were down 0.5% in October while inventories were up 0.8%.
11/30/06 The U.S. Commerce Department said that personal incomes were up 0.4% in October and consumer spending was up 0.2%.
The U.S. Labor Department said that jobless claims were up 34,000 last week to 357,000, more than expected.
The Chicago purchasing managers' index dropped from 53.5 to 49.9 in November, weaker than expected.
11/29/06 QoQ U.S. GDP was up 2.2%, and up 3.0% YoY. Nominal GDP was up 6.0% YoY.
Federal Reserve Chairman Bernanke said he expects moderate economic growth with lower inflation. The one risk of higher inflation, he warned, might come from tight labor supplies.
The Federal Reserve's Beige Book said that most districts reported "continued moderate growth since the last report" and increased consumer spending.
U.S. New home sales were at an annual rate of 1.004 million units in October, down 3.2% from September's pace and less than expected. YoY new home sales are down 18%.
11/28/06 Durable goods orders posted their biggest decline since July 2000, falling 8.7% in October. Excluding transport, orders were down 1.7%
U.S. Consumer confidence fell to 102.9 in November from a revised 105.1 last month, the New York-based Conference Board said Tuesday.
The confidence of American consumers rose in the latest week to match its 2006 high and best since April 2002, just in time for the beginning of the holiday season, ABC News and The Washington Post said on Tuesday.
The National Association of Realtors said U.S. existing home sales were at an annual rate of 6.24 million units in October, bette