The NMI® registered 55.9 percent, which is 1.5 percentage points lower than the November reading of 57.4 percent. There has been a second consecutive month of pullback in the rate of growth. Overall, the majority of respondents' comments indicate that they finished the year on a positive note. They also indicate optimism for business conditions and the economic outlook going forward.
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Friday, January 5, 2018
Non-manufacturing index dipped to 55.9 percent in December
November factory orders rose by 1.3 percent, marking four months of increases
New orders for U.S.-made goods increased in November by 1.3 percent - rising for a fourth straight month -- but business spending on equipment appeared to be cooling after robust growth in 2017.
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BLS: December job growth of 148,000, unemployment remained at 4.1 percent
Total nonfarm payroll employment increased by 148,000 in
December, and the unemployment rate was unchanged at 4.1 percent. Employment
gains occurred in health care, construction, and manufacturing.
The labor force participation rate, at 62.7 percent, was
unchanged over the month and over the year. The employment-population ratio was
unchanged at 60.1 percent in December but was up by 0.3 percentage point over
the year.
Thursday, January 4, 2018
IHS Markit Services Business Activity Index dipped .8 points in December
The seasonally adjusted final IHS Markit U.S.
Services Business Activity Index registered 53.7
in December, down from 54.5 in November. The
latest index was higher than the earlier ‘flash’
reading (52.4) and indicated a solid increase in
business activity at US service providers. A number
of panel members suggested the upturn was due to
greater client demand and increased new order
volumes. However, the overall rate of activity
growth was the weakest since May and below the
series trend.
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2017 Bloomberg Consumer Comfort Index highest average since 2001
American consumers last year were more upbeat on average
than at any time since 2001, reflecting more favorable views of the economy,
personal finances and the buying climate. The overall comfort measure averaged
50.0 in 2017, up from 43.6 a year earlier and the best reading since 51.8 in
2001. The weekly index in the last week
of 2017 eased to 51.8 from 52.4.
Initial unemployment claims rise 3,000 in latest report
In the week ending December 30, initial unemployment claims were 250,000, an increase of 3,000 from the previous week's revised level. The 4-week moving average was 241,750, an increase of 3,500 from the previous week's revised average.
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December's planned job cuts dip 7.4 percent from November; annual total lowest since 1990
U.S.-based employers announced 32,423 job cuts in the last month of the year, bringing the year-end total to 418,770, or the lowest annual total since 1990. Last month saw a 7.4 percent decrease from November's total of 35,038, and a 3.6 percent decrease from the 33,627 cuts announced in the same month last year.
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ADP: Private Sector Employment Increased by 250,000 Jobs in December
Private-sector employment increased by 250,000 from November to December, on a seasonally adjusted basis.
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Wednesday, January 3, 2018
Federal Reserve releases December meeting minutes
The information reviewed for the December 12-13 meeting
indicated that labor market conditions continued to strengthen through November
and suggested that real gross domestic product (GDP) was rising at a solid pace
in the second half of 2017. Total consumer price inflation, as measured by the
12-month percentage change in the price index for personal consumption
expenditures (PCE), remained below 2 percent in October and was lower than
early in the year.
Recent information on housing activity suggested that real
residential investment spending was edging up in the fourth quarter after
declining in the previous two quarters. Both starts and building permit
issuance for new single-family homes increased somewhat in October, and starts
for multifamily units moved up considerably. Sales of both new and existing
homes rose moderately in October.
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ISM Manufacturing Index rose 1.5 percentage points to 59.7 in December
The December PMI® registered 59.7 percent, an increase of
1.5 percentage points from the November reading of 58.2 percent. Comments from
the panel reflect expanding business conditions, with new orders and production
leading gains; employment expanding at a slower rate; order backlogs expanding
at a faster rate; and export orders and imports continuing to grow in December.
Mortgage applications dip 2.8 percent over two-week holiday period
The Market Composite Index decreased 2.8 percent on a
seasonally adjusted basis from two weeks earlier, with purchase loans up 1
percent but refinances down 7 percent. The average contract interest rate for
30-year fixed-rate mortgages with conforming loan balances remained unchanged
from the week prior at 4.25 percent.
Online job vacancies jumped 4.9 percent in December
Online advertised vacancies increased 229,700, or 4.9 percent, to 4,930,700 in December, according to The Conference Board Help Wanted OnLine® (HWOL) Data Series,released today. The November Supply/Demand rate stands at 1.41 unemployed for each advertised vacancy, with a total of 1.9 million more unemployed workers than the number of advertised vacancies.
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November construction spending rose 0.8 percent to all-time high of $1.257 trillion
November construction spending rose 0.8 percent to an all-time high annual rate of $1.257 trillion, with private residential projects soaring 1.0 percent to the highest level since February 2007. This increase was in line with a recent jump in homebuilding and supports the view that housing would boost economic growth in the fourth quarter after being a drag to gross domestic product since the April-June period.
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Tuesday, January 2, 2018
IHS Markit PMI: December manufacturing index up to highest level since March 2015
The seasonally adjusted IHS Markit final US Manufacturing
Purchasing Managers’ Index™ (PMI™) registered 55.1 in December, up from 53.9 in
November. The latest index reading was the highest since March 2015 and
signalled a solid improvement in the health of the sector. December data also
rounded off the strongest quarterly performance since the start of 2015.
November CoreLogic HPI: Home prices up 1 percent from October and 7 percent year-on-year
According to the CoreLogic HPI, home prices nationally
increased year over year by 7 percent from November 2016 to November 2017, and
on a month-over-month basis home prices increased by 1 percent in November 2017
compared with October 2017.
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