US Economic News

Revised data released by the University of Michigan on Friday showed consumer sentiment in the U.S. deteriorated by even more than previously estimated in the month of May. The report showed the consumer sentiment index for May was downwardly revised to 58.4 from the preliminary reading of 59.1.

The Commerce Department released a report on Friday showing personal income in the U.S. increased by slightly less than expected in the month of April. The report showed personal income rose by 0.4 percent in April after climbing by 0.5 percent in March. Economists had been expecting another 0.5 percent increase.

The Commerce Department released a report on Friday showing personal income in the U.S. increased by slightly less than expected in the month of April.

A report released by the National Association of Realtors on Thursday showed pending home sales in the U.S. plummeted by much more than expected in the month of April. NAR said its pending home sales plunged by 3.9 percent to 99.3 in April after tumbling by 1.6 percent to a revised 103.3 in March.

Economic activity in the U.S. slumped by slightly more than previously estimated in the first quarter of 2022, according to revised data released by the Commerce Department on Thursday. The Commerce Department said real domestic product slid by 1.5 percent in the first quarter compared to the previously reported 1.4 percent drop.

After reporting first-time claims for U.S. unemployment benefits at their highest level in almost four months in the previous week, the Labor Department released a report on Thursday showing initial jobless claims pulled back by more than expected in the week ended May 21st.

After reporting first-time claims for U.S. unemployment benefits at their highest level in almost four months in the previous week, the Labor Department released a report on Thursday showing jobless claims pulled back by more than expected in the week ended May 21st.

Economic activity in the U.S. slumped by slightly more than previously estimated in the first quarter of 2022, according to revised data released by the Commerce Department on Thursday.

With inflation remaining stubbornly elevated, the minutes of the Federal Reserve's latest monetary policy meeting showed the central bank intends to move "expeditiously" to a more neutral monetary policy stance. The minutes revealed the Fed plans to use both interest rate increases and reductions in the size of its balance sheet to achieve a neutral posture.

A report released by the Commerce Department on Wednesday showed new orders for U.S. manufactured durable goods increased by less than expected in the month of April. The Commerce Department said durable goods orders rose by 0.4 percent in April after climbing by a downwardly revised 0.6 percent in March.

A report released by the Commerce Department on Wednesday showed new orders for U.S. manufactured durable goods increased by less than expected in the month of April.

Extending the sharp pullback seen over the past several months, new home sales in the U.S. saw a substantial decrease in the month of April, the Commerce Department revealed in a report on Tuesday. The report showed new home sales plunged by 16.6 percent to an annual rate of 591,000 in April after tumbling by 10.5 percent to a revised rate of 709,000 in March.

Existing home sales showed a significant decrease in the month of April, according to a report released by the National Association of Realtors on Thursday. NAR said existing home sales tumbled 2.4 percent to an annual rate of 5.61 million in April after plunging by 3.0 percent to a revised rate of 5.75 million in March.

Growth in Philadelphia-area manufacturing activity showed a significant slowdown in the month of May, the Federal Reserve Bank of Philadelphia revealed in a report on Thursday. The Philly Fed said its current general activity index tumbled to 2.6 in May from 17.6 in April, hitting its lowest level in two years.

First-time claims for U.S. unemployment benefits unexpectedly increased in the week ended May 14th, according to a report released by the Labor Department on Thursday. The report showed initial jobless claims rose to 218,000, an increase of 21,000 from the previous week's revised level of 197,000.