Recent Economic & Committee News

  • Weekly Economic Update: September 22-26, 2014

    Sep 29 2014

    Associated Image Existing home sales fell 1.8% to a lower-than-expected annual rate of 5.05 million units in August. New home sales jumped 18.0% to a higher-than-expected pace of 504,000 units annualized in August. Durable goods orders dropped 18.2% in August. In a final estimate, 2nd quarter GDP showed an upward revision to 4.6%. Initial jobless claims rose 12,000 to 293,000 for the week ended 9/20.
  • Weekly Economic Update: September 15-19, 2014

    Sep 22 2014

    Associated Image Industrial production slipped 0.1% in August. The producer price index for final demand remained unchanged in August. The consumer price index fell a lower-than-expected 0.2% in August. The FOMC announced that policy rates remain unchanged from the target level of 0 to 0.25%; purchases of agency-backed securities would decreased to $5 billion and Treasury security purchases would slow to $10 billion per month in October. Housing starts slowed 14.4% to an annualized pace of 956,000 units in August. Building permits slowed 5.6% to an annualized pace of 998,000 units in August. Initial jobless claims fell 36,000 to 280,000 for the week ended 9/13, the 2nd lowest level of the recovery.
  • Weekly Economic Update: September 1-5, 2014

    Sep 08 2014

    Associated Image The ISM index increased 1.9 points to a higher-than-expected 59.0 for August. Construction spending increased 1.8% in July. Vehicle sales jumped 6.4% to an annual rate of 17.53 million vehicles. Factory orders jumped 10.5% in July. The U.S. trade deficit shrank slightly to $40.5 billion in July. In the second estimate of the 2nd quarter of 2014, nonfarm productivity growth was revised slightly down to 2.3% annualized. The ISM services index rose 0.9 point to 59.6 for August. The economy added 142,000 nonfarm payroll jobs in August while the unemployment rate ticked down to 6.1%. Initial jobless claims rose 4,000 to 302,000 for the week ended 8/30.
  • Weekly Economic Update: August 25-29, 2014

    Sep 08 2014

    Associated Image New home sales slowed to a lower-than-expected 412,000 annual sales rate in July. Durable orders jumped 22.6% in July due to aircraft orders. The S&P Case-Shiller home price index fell 0.2% in June. In a 2nd estimate of the 2nd quarter of 2014, GDP grew 4.2% annualized. The pending home sales index increased 3.3% to 105.9 for July. Initial jobless claims fell 1,000 to 298,000 for the week ended 8/23.
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