Economy

ISM: Services Sector Grows at 'Slightly Faster Rate' in May

The Institute for Supply Management said its Non-Manufacturing Index registered 53.7% in May, 0.2 percentage point higher than the 53.5% registered in April, indicating continued growth at a slightly faster rate. read more

Bloomberg: Growth Slowdown, But No Recession

Bloomberg reported that the U.S. economy looks set to deliver a repeat performance in 2012: for the third straight year, it may suffer a swoon, yet not slip into a recession. read more

ISM: Manufacturing Activity Shows 'Modest Decrease' in May

Economic activity in the manufacturing sector expanded in May for the 34th consecutive month, according to the latest Manufacturing ISM Report On Business. May's Purchasing Mangers Index showed a 'modest decrease' of 1.3 percentage points from April's reading. read more

May Unemployment 'Essentially Unchanged'; Job Growth Slows

The U.S. Bureau of Labor Statistics reported that the May unemployment rate was "essentially unchanged" at 8.2% from 8.1% last month. Employers added 69,000 jobs in May, compared to 77,000 in April. In comparison, the average monthly gain was 226,000 in the first quarter of the year, the report said. read more

Consumer Confidence Rises to Highest Level Since October 2007

According to the most recent Thomson Reuters/University of Michigan's Surveys of Consumers report, consumer confidence improved in each of the past nine monthly surveys, rising to its highest level since October 2007. More favorable job and wage prospects were the main factors behind the improved outlook. read more

Durable Goods Orders Rise in April

New orders for manufactured durable goods in April increased $0.3 billion or 0.2% to $215.5 billion, the U.S. Census Bureau announced in its advance report. This increase, up two of the last three months, followed a 3.7% March decrease. read more

FOMC: Indicators Point to Pickup in Equipment Expenditures

According to the recently released minutes of the last FOMC meeting, the Fed said some forward looking indicators pointed toward a pickup in the pace of expenditures for business equipment. read more

ISM: U.S. Services Sector Growth Slows in April

The Institute for Supply Management reported its Non-Manufacturing Index fell to 53.5% in April from 56% in March. The reading indicates continued growth in April, but at a slower rate, the ISM said. read more

Q1 GDP Rises 2.2%; Equipment/Software Investment Up 1.7%

The Commerce Department reported that real gross domestic product increased 2.2% in Q1/12, after increasing 3.0% in Q4/11, according to the advance estimates by the Bureau of Economic Analysis. read more

Durable Goods Orders Drop in March

New orders for manufactured durable goods in March decreased $8.8 billion or 4.2% to $202.6 billion, the U.S. Census Bureau announced in its advanced report. This decrease, down two of the last three months, followed a 1.9% February increase. read more

Survey: Business Leaders Growing Optimistic About Economy

Expectations for the U.S. economy are improving, with 49% of the participants in the 2012 Chase Middle Market Business Leaders Outlook saying they are optimistic about the nation's economic prospects in the year ahead. read more

Beige Book: Economy Continues to Expand at Moderate Pace

The U.S. economy continued to expand at a modest to moderate pace from mid-February through late March, with modest improvements in demand for lending, according to the Federal Reserve’s Beige Book report. read more

Four Fed Regional Bank Presidents See Less Need for New Easing

Bloomberg reported that four Federal Reserve regional bank presidents who vote on monetary policy this year see less of a need for the Fed to spur the economy with new accommodation. read more

ISM: U.S. Services Sector Growth Slows in March

The Institute for Supply Management's latest Report on Business Non-Manufacturing Index in March was 1.3 percentage points lower than the 57.3% registered in February, indicating continued growth at a slower rate. read more

ISM: March Manufacturing Activity Expands

Economic activity in the manufacturing sector expanded in March for the 32nd consecutive month, and the overall economy grew for the 34th consecutive month, according to the latest Manufacturing ISM Report On Business. read more

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