Weekly Economic Update: February 21-25, 2011
Overview: GDP growth for the 4th quarter of 2010 was revised downwards 0.4 percentage point to 2.8%. The S&P/Case-Schiller home price index fell 0.4% in December. Existing home sales rose 2.7% in January as new home sales fell 12.6%. Durable orders were up 2.7% in January, but excluding transport...
Weekly Economic Update: February 14-18, 2011
Overview: The President released his FY 2012 budget, calling for $3.82 trillion in spending and a $1.65 trillion deficit in FY 2011. Retail sales rose 0.3% in January. Business inventories increased 0.8% in December. Housing starts were up 14.6% in January as building permits fell 10.4%. Industr...
Recent Economic Developments
A number of economic indicators suggest that the pace of recovery is accelerating after more than a year of sub-par improvement. Households and businesses appear more optimistic about the future, and a now sustained increase in consumer credit suggests a welcome improvement in both the availability...
Weekly Economic Update: January 31-February 4
Overview: Employment increased by 36,000 in January as the unemployment rate fell to 9.0%. Productivity advanced at an annual rate of 2.6% in the 4th quarter of 2010. The ISM index rose 2.3 points to 60.8 in January as the ISM services index rose 2.3 points to 59.4. Personal income increased 0.4% ...
Unemployment rate falls to 9.0% in January; economy adds 36,000 jobs
January Employment and Unemployment: The Bureau of Labor Statistics (BLS) released a report today on employment and unemployment for January (pdf summary available). Highlights of the report:
Weekly Economic Update: January 24-28, 2011
Overview: GDP grew at a 3.2% annual rate in the 4th quarter of 2010. The FOMC held constant its 0.0%-0.25% target for the federal funds rate. Durable orders fell 2.5% in December. The S&P/Case-Schiller home price index fell 1.6% in November. New home sales rose 17.5% in December. Pending home s...
GDP up 3.2% in the 4th quarter, according to advance estimate
The Bureau of Economic Analysis (BEA) released its advance estimate of growth in the inflation-adjusted (“real”) gross domestic product (GDP) for the 4th quarter of 2010. According to the advance estimate, annualized GDP growth in the 4th quarter was 3.2%. Growth in the 3rd quarter was 2.6%, an...
Fed maintains existing policy and 0% to 0.25% target federal funds rate
The Federal Reserve’s monetary policymaking committee (the Federal Open Market Committee – FOMC) decided today to keep its target overnight interest rate (the “federal funds rate”) in a target range of 0% to 0.25%.
