Recent Economic & Committee News

  • Weekly Economic Update: September 29 - October 3, 2014

    Oct 06 2014

    Associated Image Personal income rose 0.3% in August while spending rose 0.5%. Pending home sales fell 1.0% in August. The Case-Shiller home price index fell 0.5% in July. Vehicle sales fell a sharp 6.3% in September to a lower-than-expected annual rate of 16.43 million units. The ISM manufacturing index fell 2.4 points to a lower-than-expected 56.6. Factory orders fell 10.1% in August. The economy added 248,000 nonfarm payroll jobs in September, while the unemployment rate fell to 5.9%. The U.S. trade deficit shrank 0.5% to $40.1 billion in August. The ISM services index ticked down a point to 58.6 in September. Initial jobless claims fell 8,000 to 287,000 for the week ended 9/27.
  • 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.
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