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The Federal Reserve Has Few Surprises For Wall Street
The Federal Reserve concluded its latest Federal Open Market Committee (FOMC) meeting earlier this afternoon, and investors found few surprises either in what the lead bank did, or rather did not do, or in what it said following its latest get together. Read more
Consumer Confidence Slides In July
Just when it looked as though most of the stars were aligned for the economic bulls, comes word that consumer confidence, one of the major indicators of economic health, came in well below expectations in July. That finding was according to a release made earlier this morning by The Conference Board, a private research group. Read more
New Home Sales Falter In June
New home sales fell to a seven-month low in June, in a surprise setback in a market that has been roaring ahead on most fronts. In all, such sales declined by 6.8%, to a seasonally adjusted annualized rate of 482,000 homes sold last month. Worse, May's sales pace was revised down from an estimated 546,000 homes sold annually, to just 517,000 properties. Read more
The Federal Reserve Beige Book Continues To See Steady U.S. Growth
The Federal Reserve served up another course of steady economic growth for its readers to digest earlier this afternoon, as the widely anticipated Beige Book summation of business activity across the country noted that the economy continued to expand further from mid-May through June. Read more
Industrial Production Rises In June, Factory Usage Edges Up, Too
Industrial output climbed last month, gaining 0.3%, up from a decline of 0.2% in May. Expectations for June had been for a rise of 0.2%. Total output was up 1.4% over the prior year. Read more
Retail Spending Falters In June Following A Strong May
The consumer pulled back unexpectedly in June, after a strong May, as retail sales declined by 0.3% in the month. That setback followed an increase of 1.0% the month before; expectations for June had been for a gain of 0.2%. Read more
Nonmanufacturing Activity Advances In June
At 10:00 A.M. (EDT) this morning, we received another encouraging report on the U.S. economy when the Institute for Supply Management reported data on nonmanufacturing activity for the month of June. It marked the 65th consecutive month that economic activity in the services sector had grown. Read more
Manufacturing Activity Perks Up A Bit In June
The second half begins with a late first-half burst of strength. On point, just days after figures were released confirming increases in housing activity, personal income, and consumer confidence comes word of a somewhat better showing on the manufacturing front as the opening six months concluded. Read more
Consumer Confidence Surges Anew In June
Americans continue to be generally satisfied with their economic prospects, it would seem, at least according to data issued this morning by the U.S. Conference Board. On point, this research organization's Consumer Confidence Index jumped to a reading of 101.4 in this now-concluding month. Read more
Final GDP Revision Shows Less Of A First-Quarter Contraction
The Commerce Department issued its second, and final, revision of the first-quarter gross domestic product, and the comparative improvement was as expected. Specifically, after earlier estimating that the period's GDP had contracted by 0.7%, more definitive source data suggested that the contraction had been a less steep 0.2%. Read more
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