Consumer sentiment has remained largely unchanged in the past month with gains prospects for the overall economy offset by declines in buying attitudes, according to the University of Michigan Surveys of Consumers.

The expected improvements in the economy were largely driven by those who expected Joe Biden to win, while the declines in buying attitudes were due to uncertain prospects for jobs and incomes due to the resurgence in COVID infection and death rates, said U-M economist ...

The Chicago Business Barometer, produced with MNI, eased to 61.1 in October, edging lower after a sharp increase in September. However, it still marks the fourth consecutive reading above the 50-mark after sitting below it for a year.

Among the five main indicators, New Orders was the only category to show a monthly uptick, while Production recorded the largest decline. ...

Personal income increased $170.3 billion (0.9 percent) in September according to estimates released today by the Bureau of Economic Analysis (tables 3 and 5). Disposable personal income (DPI) increased $150.3 billion (0.9 percent) and personal consumption expenditures (PCE) increased $201.4 billion ...

Pending home sales experienced a minor decline in September after four consecutive months of contract activity growth, according to the National Association of Realtors®. While all four major U.S. regions recorded notable year-over-year increases, only the Northeast achieved month-over-month gains in pending home ...

Real gross domestic product (GDP) increased at an annual rate of 33.1 percent in the third quarter of 2020 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP decreased 31.4 percent.

The GDP estimate released today is based on source data that are incomplete or subject to further revision by the source agency (see "Source Data for the Advance Estimate" on page 2). The "second" estimate for the third quarter, based on more complete data, will be released ...

In the week ending October 24, the advance figure for seasonally adjusted initial claims was 751,000, a decrease of 40,000 from the previous week's revised level. The previous week's level was revised up by 4,000 from 787,000 to 791,000. The 4-week moving average was 787,750, a decrease of 24,500 from the previous week's revised average. ...

Mortgage applications increased 1.7 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending October 23, 2020.

The Market Composite Index, a measure of mortgage loan application volume, increased 1.7 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 2 percent compared with the previous week. The Refinance Index increased 3 ...

Fifth District manufacturing activity strengthened in October, according to the most recent survey from the Richmond Fed. The composite index rose from 21 in September to 29 in October, its highest reading on record, buoyed by increases in the shipments and new orders indexes, while the third component — the employment index — was unchanged. ...

The Conference Board Consumer Confidence Index® declined slightly in October, after increasing sharply in September. The Index now stands at 100.9 (1985=100), down from 101.3 in September. The Present Situation Index – based on consumers’ assessment of current business and labor market conditions – increased from 98.9 to 104.6. However, ...

S&P Dow Jones Indices today released the latest results for the S&P CoreLogic Case-Shiller Indices, the leading measure of U.S. home prices. Data released today for August 2020 show that home prices continue to increase at a modest rate across the U.S.

Please note that transaction records for July 2020 for Wayne County, MI are now available. Due to delays at the local recording office caused by the COVID-19 lockdown, S&P Dow Jones Indices and CoreLogic were previously unable to generate a valid July 2020 update of the ...

New Orders
New orders for manufactured durable goods in September increased $4.3 billion or 1.9 percent to $237.1 billion, the U.S. Census Bureau announced today. This increase, up five consecutive months, followed a 0.4 percent August increase. Excluding transportation, new orders increased 0.8 percent. Excluding defense, new orders increased ...

Texas factory activity expanded in October for the fifth month in a row following a record contraction due to the COVID-19 pandemic, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, rose three points to 25.5, indicating a ...

New Home Sales
Sales of new single-family houses in September 2020 were at a seasonally adjusted annual rate of 959,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 3.5 percent (±19.9 percent)* below the revised August rate of 994,000, but is 32.1 ...

Led by some further moderation in the growth of production- and employment-related indicators, the Chicago Fed National Activity Index (CFNAI) declined to +0.27 in September from +1.11 in August. Three of the four broad categories of indicators used to construct the index made positive contributions in September, but three of the four ...

Tenth District manufacturing activity rose again in October but remained lower than a year ago, while expectations for future activity continued to expand. Prices paid for raw materials grew at a faster pace and prices received for finished goods inched up from a month ago. District firms expected prices for both raw materials and finished ...

The Conference Board Leading Economic Index® (LEI) for the U.S. increased 0.7 percent in September to 107.2 (2016 = 100), following a 1.4 percent increase in August and a 2.0 percent increase in July.

“The US LEI increased in September, driven primarily by declining unemployment claims and rising housing permits. However, the decelerating pace of improvement suggests the US economy could be losing momentum heading into the final quarter of 2020,” said Ataman Ozyildirim, ...

Existing-home sales grew for the fourth consecutive month in September, according to the National Association of Realtors®. Each of the four major regions witnessed month-over-month and year-over-year growth, with the Northeast seeing the highest climb in both categories.

Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 9.4% from August to a seasonally-adjusted annual rate of 6.54 million in September. Overall sales rose year-over-year, up 20.9% from a year ago (5.41 ...

In the week ending October 17, the advance figure for seasonally adjusted initial claims was 787,000, a decrease of 55,000 from the previous week's revised level. The previous week's level was revised down by 56,000 from 898,000 to 842,000. The 4-week moving average was 811,250, a decrease of 21,500 from the previous week's revised average. ...

Economic activity continued to increase across all Districts, with the pace of growth characterized as slight to modest in most Districts. Changes in activity varied greatly by sector. Manufacturing activity generally increased at a moderate pace. Residential housing markets continued to experience steady demand for new and existing homes, ...

Mortgage applications decreased 0.6 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending October 16, 2020.

The Market Composite Index, a measure of mortgage loan application volume, decreased 0.6 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1 percent compared with the previous week. The Refinance Index increased 0.2 ...

Building Permits
Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,553,000. This is 5.2 percent (±1.6 percent) above the revised August rate of 1,476,000 and is 8.1 percent (±1.8 percent) above the September 2019 rate of 1,437,000. Single-family authorizations in September ...

Nonmanufacturing activity in the region continued to expand this month, according to firms responding to the Nonmanufacturing Business Outlook Survey. The survey's current indicators for general activity, new orders, and sales/revenues remained positive, and the survey's index for full-time employment increased. Respondents expect ...

In a further show of strength for the housing sector, builder confidence in the market for newly-built single-family homes increased two points to 85 in October, further surpassing the previous all-time high of 83 recorded in September, according to the latest NAHB/Wells Fargo Housing Market Index (HMI) released today. These are the first ...

The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for August 2020. The sum total in August of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a net TIC inflow of $86.3 billion. Of this, net foreign private inflows were $86.9 billion, and net ...

Slowing employment growth, the resurgence in covid-19 infections, and the absence of additional federal relief payments, prompted consumers to become more concerned about the current economic conditions. Those concerns were largely offset by continued small gains in economic prospects for the year ahead. The Current Conditions Index recorded ...

The combined value of distributive trade sales and manufacturers’ shipments for August, adjusted for seasonal and trading day differences but not for price changes, was estimated at $1,452.4 billion, up 0.6 percent (±0.2 percent) from July 2020, but was down 0.4 percent (±0.4 percent)* from ...

Industrial production fell 0.6 percent in September, its first decline after four consecutive months of gains. The index increased at an annual rate of 39.8 percent for the third quarter as a whole. Although production has recovered more than half of its February to April decline, the September reading was still 7.1 percent below its ...

Advance estimates of U.S. retail and food services sales for September 2020, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $549.3 billion, an increase of 1.9 percent (± 0.5 percent) from the previous month, and 5.4 percent (± 0.7 percent) above September 2019. Total sales for the July ...

Prices for U.S. imports increased 0.3 percent in September, the U.S. Bureau of Labor Statistics reported today, following advances of 1.0 percent in August, 1.2 percent in July, and 1.3 percent in June. In September, rising prices for nonfuel imports more than offset lower fuel prices. U.S. export prices increased 0.6 percent in September, ...

Manufacturing activity in the region picked up this month, according to firms responding to the October Manufacturing Business Outlook Survey. The survey's current indicators for general activity, new orders, and shipments all showed notable improvement. Most future indexes increased and continue to reflect optimism among firms about growth ...

Business activity expanded modestly in New York State, according to firms responding to the October 2020 Empire State Manufacturing Survey. The headline general business conditions index fell seven points to 10.5, pointing to a slower pace of growth than in September. New orders and shipments continued to increase, while unfilled orders ...

In the week ending October 10, the advance figure for seasonally adjusted initial claims was 898,000, an increase of 53,000 from the previous week's revised level. The previous week's level was revised up by 5,000 from 840,000 to 845,000. The 4-week moving average was 866,250, an increase of 8,000 from the previous week's revised average. ...

The Producer Price Index for final demand advanced 0.4 percent in September, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices rose 0.3 percent in August and 0.6 percent in July. (See table A). On an unadjusted basis, the final demand index increased 0.4 percent for the 12 months ended in September, ...

Mortgage applications decreased 0.7 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending October 9, 2020.

The Market Composite Index, a measure of mortgage loan application volume, decreased 0.7 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1 percent compared with the previous week. The Refinance Index decreased 0.3 ...

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent in September on a seasonally adjusted basis after rising 0.4 percent in August, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.4 percent before ...

All employees
Real average hourly earnings for all employees decreased 0.1 percent from August to September, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This result stems from an increase of 0.1 percent in average hourly earnings being more than offset by an increase of 0.2 percent in the Consumer Price Index for ...

The NFIB Optimism Index rose 3.8 points to 104.0 in September, a historically high reading. Nine of the 10 Index components improved and one declined. The NFIB Uncertainty Index increased 2 points to 92, up from 75 in April.

“As parts of the country continue to open, small businesses are seeing some improvements in foot traffic and sales,” said NFIB Chief Economist Bill Dunkelberg. “However, some small businesses are still struggling financially to operate at full capacity while navigating ...

August 2020 sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences but not for price changes, were $486.6 billion, up 1.4 percent (±0.5 percent) from the revised July level, but were down 2.3 percent (±1.1 percent) from the revised August 2019 level. ...

In the week ending October 3, the advance figure for seasonally adjusted initial claims was 840,000, a decrease of 9,000 from the previous week's revised level. The previous week's level was revised up by 12,000 from 837,000 to 849,000. The 4-week moving average was 857,000, a decrease of 13,250 from the previous week's revised average. ...

In August, consumer credit decreased at a seasonally adjusted annual rate of 2 percent. Revolving credit decreased at an annual rate of 11-1/4 percent, while nonrevolving credit increased at an annual rate of 3/4 percent.

...

The Conference Board®-Burning Glass® Help Wanted OnLine™ (HWOL) Index rose in September and now stands at 107.5 (July 2018=100), up from 105.1 in August. The Index rose 1.7 percent from July to August and is up 2.6 percent from a year ago.

The Help Wanted OnLine™ Index is produced in collaboration with Burning Glass Technologies, the global pioneer in real-time labor market data and analysis. This recent collaboration enhances the Help Wanted OnLine™ program by providing additional insights into important ...

Mortgage applications increased 4.6 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending October 2, 2020.

The Market Composite Index, a measure of mortgage loan application volume, increased 4.6 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 5 percent compared with the previous week. The Refinance Index increased 8 ...

The number of job openings was little changed at 6.5 million on the last business day of August, the U.S. Bureau of Labor Statistics reported today. Hires were little changed at 5.9 million in August. Total separations decreased to 4.6 million. Within separations, the quits rate was little changed at 2.0 percent while the layoffs and ...

The nation's international trade deficit in goods and services increased to $67.1 billion in August from $63.4 billion in July (revised), as imports increased more than exports. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $67.1 billion in August, up $3.7 billion from ...

Economic activity in the services sector grew in September for the fourth month in a row, say the nation’s purchasing and supply executives in the latest Services ISM® Report On Business.®

The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management® (ISM®) Services Business Survey Committee: “The Services PMI™ registered 57.8 percent, 0.9 percentage point higher than the August reading of 56.9 ...

The Conference Board Employment Trends Index™ (ETI) increased in September, following increases in May, June, July, and August. The index now stands at 54.80, up from 53.30 (an upward revision) in August. “The Employment Trends Index increased again in September, but over the last two months its gains have been more modest, indicating that ...

Summary
New orders for manufactured goods in August, up four consecutive months, increased $3.2 billion or 0.7 percent to $470.1 billion, the U.S. Census Bureau reported today. This followed a 6.5 percent July increase. Shipments, also up four consecutive months, increased $1.4 billion or 0.3 percent to $481.3 billion. This followed a 4.7 ...

Consumer sentiment continued to improve in late September, with the Sentiment Index reaching its highest level in six months, according to the University of Michigan Surveys of Consumers.

It should be noted that the interviewing period ended prior to the presidential debate, said U-M economist Richard Curtin, director of the surveys. ...

Total nonfarm payroll employment rose by 661,000 in September, and the unemployment rate declined to 7.9 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to ...

In September, New York City purchasing managers reported significant short term improvements in Current Business Conditions and Current Revenues against a drop in Six Month Outlook, according to the survey taken by the Institute for Supply Management New York.

New York Metro
Current Business Conditions gained back the losses reported in August, increasing 13.2 points from 42.9 to 56.1 in September. This is much like the increase reported (and then lost) from May to June. This index reflects the largest change seen in this month's ...