The MNI Chicago Business Barometer rose 1.4 points to 64.1 in June, up from 62.7 in May, hitting the highest level since January.
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Friday, June 29, 2018
June Chicago PMI rose to highest level since January
Personal income rose faster than spending in May, leading to a rise in personal savings rate
In May, both personal income and disposable personal income rose 0.4 percent, while personal consumption expenditures (PCE) rose 0.2 percent, leading to a rise in the personal savings rate from 3.0 to 3.2 percent.
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Inflation update: PCE Price Index rose 0.2 percent in May and 2.3 percent year-on-year
The PCE price index increased 0.2 percent in May and was up 2.3 percent year-on-year. Excluding food and energy, the PCE price index increased 0.2 percent and was up 2.0 percent year-on-year.
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Consumer sentiment retreated in late June due to concerns about tariffs
Consumer sentiment retreated in late June to just above the May reading largely due to concerns about the potential impact of tariffs on the domestic economy, although the falloff was minor. Consumers also anticipated an uptick in inflation during the year ahead, partly due to rising energy prices and partly due to tariffs.
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Thursday, June 28, 2018
Initial unemployment claims rise 9,000 in weekly report
In the week ending June 23, initial unemployment claims were 227,000, an increase of 9,000 from the previous week's unrevised level of 218,000. The 4-week moving average was 222,000, an increase of 1,000 from the previous week's unrevised average of 221,000.
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Mortgage applications decline by nearly five percent in weekly survey
The Market Composite Index decreased 4.9 percent on a seasonally adjusted basis from one week earlier, with refinances falling 4.0 percent and purchase loans down 6.0 percent. The average contract interest rate for 30-year fixed-rate mortgages increased to 4.84 percent from 4.83 percent.
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Bloomberg: Consumer comfort rose for third straight week to 2-month high
Americans' sentiment improved to the best level in two months on brighter views of the economy and personal finances. The Bloomberg Consumer Comfort Index rose for the third straight week to 57.3 from 56.5.
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First quarter 2018 corporate profits rose $39.5 billion vs. a loss of $1.1 billion in 4Q 2017
Profits from current production increased $39.5 billion in the first quarter, in contrast to a decrease of $1.1 billion in the fourth quarter.
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First quarter 2018 GDP growth revised down to 2.0 percent in third and final estimate
Real gross domestic product (GDP) increased at an annual rate of 2.0 percent in the first quarter of 2018 according to the "third" estimate released by the Bureau of Economic Analysis, down from 2.2 percent in the second estimate. The GDP estimate released today is based on more complete source data. In the fourth quarter, real GDP increased 2.9 percent.
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Wednesday, June 27, 2018
May durable goods orders fell for second straight month as trade disputes potentially increase uncertainty
Orders for durable goods fell 0.6% in May following a revised 1% decline in April, led by the biggest drop in new orders for cars and trucks since 2015. This is perhaps a sign that intensifying trade disputes between the Trump administration and other countries are causing businesses to hesitate.
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May U.S. trade deficit for goods narrowed for third straight month as exports rose
The US trade deficit in goods narrowed for the third consecutive month in May to -$64.8 billion as improved export performance outweighed a modest rise in imports during the month. This is also the smallest deficit for the economy since last September.
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May pending home sales down 0.5 percent from April and 2.2 percent year-on-year
Pending home sales decreased 0.5 percent in May and have now fallen on an annualized basis for the fifth straight month. A larger decline in contract activity in the South offset gains in the Northeast, Midwest and West.
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April Case-Shiller Index up 1.0 percent from March and 6.4 percent year-on-year
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 6.4% annual gain in April, down from 6.5% in the previous month. Before seasonal adjustment, the National Index posted a month-over-month gain of 1.0% in April.
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Tuesday, June 26, 2018
June State Street Investor Confidence Index slips 2.1 points as global tensions rise
The Global Investor Confidence Index decreased to 101.7, down 2.1 points from May's revised reading of 103.8. Escalating trade tensions across the globe, increasing protectionism, and diverging monetary policy between the major central banks have coincided with more cautious investor positioning.
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June consumer confidence declines 2.4 points but still at historically high level
Consumer confidence declined in June by 2.4 points after improving in May. Consumers' assessment of present-day conditions was relatively unchanged, suggesting that the level of economic growth remains strong. The modest curtailment in optimism suggests that consumers do not foresee the economy gaining much momentum in the months ahead.
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