The Institute for Supply Management’s index for services inched down to 52.7 in July from 53.9 in June, indicating expansion for the seventh straight month. … READ MORE >
New data points to further economic slowdown and disinflation
Job openings fell to 9.58 million in June, the lowest since April 2021, according to government data released on Tuesday. … READ MORE >
Fed’s key wage gauge falls to lowest level since June 2021
The Employment Cost Index—the Federal Reserve’s closely watched metric on wage growth—increased by 1.0% in the second quarter, the slowest since June 2021. … READ MORE >
Business orders for equipment rise despite higher borrowing costs
New orders for core capital goods, a proxy for business investment, came in higher than forecast in June, rising by 0.2%, the Commerce Department reported on Thursday. … READ MORE >
Housing starts and permits drop in June as rates surge
New residential starts fell by 8% on the month, while permits for new buildings declined by 3.7%, the Commerce Department reported on Wednesday. … READ MORE >
Mixed signals from retail sales and industrial production data ahead of Fed meeting
Underlying retail sales showed a strong increase in June while industrial production posted another sharp drop, giving mixed signals on the health of the economy heading toward a pivotal period for rate hike decisions. … READ MORE >
Consumer sentiment highest in nearly two years
Consumer sentiment jumped to its highest level since September 2021 on the heels of continuing disinflation and an improved view of household finances, according to the University of Michigan’s survey on Friday. … READ MORE >
Job and producer inflation data raises soft-landing hope
Data on jobless claims and producer inflation came in lower than forecast on Thursday, giving mixed signals on the Federal Reserve’s rate trajectory. … READ MORE >
Strong economic data signals another rate hike in July
A series of economic reports released on Thursday showed a much more resilient economy than expected heading into a crucial period when the Federal Reserve is on the verge of hiking interest rates again. … READ MORE >
Spending and inflation cool in May
Inflation continued to decelerate in May as the Federal Reserve’s key pricing metric—the personal consumption expenditures index—grew by only 3.8% from a year ago, the lowest level in more than two years. … READ MORE >