Recent Economic & Committee News

  • Weekly Economic Update: August 11-15, 2014

    Aug 18 2014

    Associated Image The U.S. Treasury budget deficit fell to $94.6 billion for July, 10 months into the fiscal year. Retail sales were flat for July. Business inventories increased 0.4% for June. The producer price index for total final demand increased 0.1% in July while PPI-FD excluding food & energy rose 0.2%. Industrial production increased 0.4% in July. Initial jobless claims rose 21,000 to 311,000 for the week ended 8/9.
  • Weekly Economic Update: August 4-8, 2014

    Aug 13 2014

    Associated Image Factory orders increased a higher-than-expected 1.1% in June. The ISM services index rose 2.7 points to 58.7 in July, a recovery best. The U.S. trade deficit narrowed $3.2 billion to $41.5 billion in June. Consumer credit increased $17.26 billion (0.54%) in June to $3.21 trillion. Productivity for the 2nd quarter of 2014 increased an annualized 2.5%. Initial jobless claims fell 14,000 to 289,000 for the week ended 8/2.
  • Weekly Economic Update: July 28 - August 1, 2014

    Aug 04 2014

    Associated Image The pending home sales index was down 1.1% in June to a level of 102.7. The Case-Shiller home price index fell 0.3% in May. In an advance estimate, second quarter GDP rose an annualized 4.0%. The FOMC announced that policy rates are unchanged at a target level of 0 to 0.25%, and tape remains on schedule to end with the October FOMC meeting. The economy added 209,000 nonfarm payroll jobs in July while the unemployment rate ticked up to 6.2%. Personal income rose 0.4% in June while personal spending rose 0.4%. The ISM index increased 1.8 points to 57.1 in July. Construction spending fell 1.8% in June. Vehicle sales fell 2.48% in July to a lower-than-expected 16.48 million annual unit rate. Initial jobless claims rose 23,000 to 302,000 for the week ended 7/26.
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