U.S. GDP grows by 4% in second quarter, crushing forecasts
Gonna be interesting to see what the Fed does with this in a few minutes. This morning the Commerce Department announced that the U.S. economy grew at a 4% annual rate in the second quarter.
Saturday Night Quarterback says, For the week ahead expect…
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Lots of data but no consensus on U.S. or global economic growth
What a confusing day for economic news in the U.S. and globally. Unemployment and housing starts point in different directions in the U.S. Short-term indicators in China and IMF forecasts disagree
Saturday Night Quarterback says, For the week ahead expect…
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...
Strong June jobs sends Dow over 17,000 for first time
In June the U.S. economy added 288,000 jobs after adding an upwardly revised 224,000 jobs in May (up from an initial report of 217,000.) The consensus among economists surveyed by Briefing.com had projected an increase of 210,000 jobs in the month.
Pending home sales jump 6.1% in May
Pending home sales, the number of contracts to purchase previously owned U.S. homes, jumped in May. The pending home sales indexed climbed 6.1% in May, according to the National Association of Realtors. That’s the biggest jump since April 2010. It follows on an anemic 0.5% increase in April that raised fears that the U.S. housing sector had stalled.
Bigger than expected drop in first quarter GDP on 3rd revision leaves market yawning
A huge downward revision in first quarter GDP growth today—and the market has decided it doesn’t care. On the third estimate, the Bureau of Economic Analysis revised first quarter GDP growth down to a negative 2.9%.
Good news for the U.S. economy: New home sales soar in May from April
Sales of new homes rose 18.6% in May to an annualized rate of 504,000 from a revised 425,000 rate in April. That was well above the 440,000 annualized rate expected by economists surveyed by Briefing.com. This was the first time that annualized sales broke above 500,000 since May 2008. Supply fell to 4.5 months at the current sales pace from 5.3 months in April.
Saturday Night Quarterback says, For the week ahead expect…
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Gasoline prices rise ahead of summer driving season threatening to take a bite out of growth
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...IMF seconds last week’s World Bank report in lowering forecasts on U.S. growth for 2014
if you can pry yourself away from all the speculation on sectarian chaos in the Middle East, today’s data poses quite a puzzle on its own. Looking backward, numbers released today say the U.S. economy is in better shape that expected. Looking forward, the International Monetary Fund followed up on the World Bank reduction in its forecasts of growth for 2014 with a cut to its own projection for 2014 U.S. growth
U.S. economy adds 200,000+ jobs in May For fourth month in a row but…
May’s gain of 217,000 jobs marked the fourth consecutive month that the economy added more than 200,000. That’s the first consecutive time that’s happened since early 2000. The 6.3% unemployment rate is an almost six-year low. On the other hand, at 6.3% or 12.2% unemployment isn’t especially low, and the labor participation rate remained a puzzle at just 62.8%
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