US Economic News

Reflecting a decrease in spending on public construction, the Commerce Department released a report on Friday showing an unexpected dip in U.S. construction spending in the month of May. The report showed construction spending edged down by 0.1 percent to an annual rate of $1.780 trillion in May after climbing by 0.8 percent to an upwardly revised rate of $1.783 trillion in April.

The Institute for Supply Management released a report on Friday showing its reading on U.S. manufacturing activity fell to its lowest level in two years in the month of June. The ISM said its manufacturing PMI slid to 53.0 in June from 56.1 in May, although a reading above 50 still indicates growth in the sector. Economists had expected the index to dip to 54.9.

MNI Indicators released a report on Thursday showing growth in Chicago-area business activity slowed by more than expected in the month of June. The report showed the Chicago business barometer slumped to 56.0 in June from 60.3 in May. While a reading above 50 still indicates growth, economists had expected the business barometer to dip to 58.0.

Personal income in the U.S. increased in line with economist estimates in the month of May, according to a report released by the Commerce Department on Thursday. The report showed personal spending rose by 0.5 percent in May, matching the revised increase seen in April as well as expectations.

A report released by the Labor Department on Thursday showed a modest decrease in first-time claims for U.S. unemployment benefits in the week ended June 25th. The Labor Department said initial jobless claims slipped to 231,000, a decrease of 2,000 from the previous week's revised level of 233,000.

A report released by the Labor Department on Thursday showed a modest decrease in first-time claims for U.S. unemployment benefits in the week ended June 25th.

Personal income in the U.S. increased in line with economist estimates in the month of May, according to a report released by the Commerce Department on Thursday.

Revised data released by the Commerce Department on Wednesday showed U.S. economic activity shrank by slightly more than previously estimated in the first quarter of 2022. The report showed the decrease in real gross domestic product in the first quarter was revised to 1.6 percent from the previously reported 1.5 percent.

Revised data released by the Commerce Department on Wednesday showed U.S. economic activity shrank by slightly more than previously estimated in the first quarter of 2022.

Consumer confidence in the U.S. continued to deteriorate in the month of June, according to a report released by the Conference Board on Tuesday. The Conference Board said its consumer confidence index slid to 98.7 in June from a downwardly revised 103.2 in May. Economists had expected the index to drop to 101.0 from the 106.4 originally reported for the previous month.

After reporting steep drops in U.S. pending home sales over the past several months, the National Association of Realtors released a report on Monday showing an unexpected rebound in pending home sales in the month of May.

New orders for U.S. manufactured durable goods increased by more than expected in the month of May, according to a report released by the Commerce Department on Monday. The report showed durable goods orders climbed by 0.7 percent in May after rising by 0.4 percent in April. Economists had expected orders to inch up by 0.1 percent.

New orders for U.S. manufactured durable goods increased by more than expected in the month of May, according to a report released by the Commerce Department on Monday.

Consumer sentiment in the U.S. tumbled by slightly more than initially estimated in the month of June, revised data from the University of Michigan revealed on Friday. The report showed the consumer sentiment index for June was downwardly revised to 50.0 from the preliminary reading of 50.2.

New home sales in the U.S. unexpectedly showed a significant rebound in the month of May, according to a report released by the Commerce Department on Friday. The report showed new home sales surged 10.7 percent to an annual rate of 696,000 in May after plunging 12.0 percent to an upwardly revised rate of 629,000 in April.