Category Archives: United States

June Personal Income, Construction Spending, July ISM MF

Income Stagnant in June as Dividends Reset              U.S. Real Disposable Personal Income eased by 0.1 percent in June. The Personal Consumption Expenditure Price Index was unchanged for the month. Real Consumer Spending was also unchanged in June. Construction Spending dropped … Continue reading

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Comerica Economic Weekly

Economic data published in the last week of July showed moderate U.S. economic growth in Q2, likely setting up more of the same for Q3, and keeping the Federal Reserve on track for the beginning of balance sheet reduction this … Continue reading

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2017Q2 GDP, June Employment Cost Index

GDP Resumes Moderate Growth, as Expected. Employment Costs Edging Up Real Gross Domestic Product for 2017Q2 increased at a moderate 2.6 percent annualized rate. Worker Compensation increased by 2.4 percent for the 12 months ending in June. Real gross domestic … Continue reading

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June New and Existing Home Sales, May House Prices

New Home Sales are Trending Up, But Existing Home Sales are Stalled New Home Sales ticked up by 0.8 percent in June, to a 610,000 unit annual rate. Existing Home Sales decreased by 1.8 percent in June to a 5,520,000 … Continue reading

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Comerica Economic Weekly

Economic data this week showed a good finish for the recently completed second quarter, and a good start to the current third quarter. Housing starts increased in June by 8.3 percent, to a 1.215 million unit annual rate. The volatile … Continue reading

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June Leading Indicators, July Regional MF Surveys, UI Claims, FOMC

Indicators Point to Positive H2 The Conference Board’s Leading Economic Index for June increased by 0.6 percent. Initial Claims for Unemployment Insurance fell by 15,000 for the week ending July 15, to hit 233,000. The Conference Board’s Leading Economic Index … Continue reading

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June Housing Starts, NAHB, Mortgage Apps

Residential Construction Bounced Back in June Housing Starts increased in June by 8.3 percent to a 1,215,000 unit annual rate. Permits for new residential construction increased by 7.4 percent to a 1,254,000 unit pace in June. Builder Confidence eased in … Continue reading

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Global Expansion, Central Bank Strategy, the Bond Market and the Dollar

The global expansion remains engaged. The U.S economy, representing about one-fifth of global demand, got off to a sluggish start with 1.4 percent real GDP growth (annualized) in the first quarter. We expect U.S. GDP growth to approximately double for … Continue reading

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Comerica Economic Weekly

Economic data this week are again consistent with a moderate rebound in U.S. GDP growth for the second quarter. The first estimate of Q2 GDP is due out on July 28. Payroll employment increased by a strong 222,000 net jobs … Continue reading

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June U.S. Employment

June Payrolls Up by a Strong 222,000, Unemployment Rate Ticks Up to 4.4 Percent Payroll Employment increased by 222,000 jobs in June, above expectations. The Unemployment Rate for June increased slightly to 4.4 percent. Average Hourly Earnings increased by 0.2 … Continue reading

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