U.S. Data

  • 2015-06-03 04:30

    --U.S.' First-Quarter Performance Largely to Blame

    WASHINGTON (MNI) - In its latest Economic Outlook, the OECD gave the global economy a paltry B- grade thanks largely to the dismal first-quarter performance of U.S. GDP.

    In a briefing for North American media, OECD Chief Economist Catherine Mann put the bleak U.S. and global outputs in historical perspective.

    "The U.S. economy was so significantly lower than our expectations and it presented such a poor performance that the global economy was worse in the first quarter of 2015 compared to any other quarter since the financial crisis," Mann said.

    According to Mann, the OECD projects a 3.8% global growth rate by 2016.

  • 2015-06-02 14:47

    WASHINGTON (MNI) - The following is an initial summary of the May U.S. sales performance of select auto manufacturers announced Tuesday:

    * Chevrolet, Buick, GMC and Cadillac dealers in the United States delivered 293,097 vehicles in May 2015, for General Motors Co.'s best May sales since 2007 and its best month since August 2008. Total sales were up 3% year over year and retail sales were up 7% in a month when most major competitors lost ground. Pickup trucks and crossovers were especially strong sellers. Commercial deliveries were up 5% in May, with full-size pickups up 9%.

  • 2015-06-02 10:00

    By Kevin Kastner

    WASHINGTON (MNI) - The value of new factory orders fell 0.4% in May, lower than the flat expected in an MNI survey due to sharp downward revision to durable goods orders, data released by the Commerce Department Tuesday morning showed.

    The April decline followed a slight upward revision to March factory orders, which are now up 2.2% after being originally reported up 2.1% following annual revisions to the data.

    Total durable goods orders are now reported to have declined 1.0% in April, revised downward from the 0.5% drop reported in the advance estimate.

    Nondurable goods orders posted a modest 0.2% increase, led by a 0.5% rise in chemical products. Nondurables shipments are equivalent to orders in this report.

  • 2015-06-02 08:55

    WASHINGTON (MNI) - The following is the text of the weekly retail sales report released by Johnson Redbook Tuesday, for the month-to-date through the week-ended May 30:

    The Johnson Redbook Retail Sales Index was up 1.7% in the fourth and final week of May following a 1.6% gain the prior week. Month-to-date, May was up 1.8% compared to May of last year (relative to a target of a 1.7% gain). Month-over-month showed a 0.3% drop versus April (relative to a target of a 0.5% drop).

    Sales were lifted by Memorial Day traffic at the beginning of the week which helped to maintain the month's averages.

  • 2015-06-02 07:45

    WASHINGTON (MNI) - The following is the text of the Retail Economist's report on same-store sales results released Tuesday:

    The Retail Economist-Goldman Sachs Weekly Chain Store Sales Index rebounded by 2.0% (seasonally adjusted) compared with its previous week for the period ending on Saturday, May 30. On a year-over-year basis, sales moderated to 2.1%, after rising more rapidly in the previous week. Michael P.

  • 2015-06-01 14:00

    --May ISM Rpt Irons Out All the Ripples; No Imbalances

    WASHINGTON (MNI) - Having seen the May MNI Chicago Report take a nosedive, some analysts were braced for a downside surprise for the May national purchasing managers' report, and instead it exceeded expectations, showing strength not only at the top, but at nearly every other level too.

    "It all feels pretty decent and pretty hopeful," Institute for Supply Management survey chief Brad Holcomb told MNI after the report's headline number came in at 52.8 Monday, lifting off a two-month plateau at 51.5, and exceeding expectations.

    "The data is good," he continued. "I love the employment situation.

  • 2015-06-01 10:00

    By Brai Odion-Esene

    WASHINGTON (MNI) - Participants at the Chicago Federal Reserve Bank's Automotive Outlook Symposium cut their expectations for U.S. economic growth this year to barely above 2%, while projecting a slower rate of consumer price increases, and for the unemployment rate to continue its decline.

    And according to forecasts published Monday by the Chicago Fed - the event was held in Chicago May 29 - auto sales are projected at over 16 million units next year, while the benchmark U.S. oil price is expected to average around $62 per barrel.

    "Real residential investment is anticipated to grow at a strong pace in 2015, and most of the other major components of real GDP are expected to expand at a solid pace this year," the Chicago Fed said.

  • 2015-05-29 16:11

    WASHINGTON (MNI) - The following is the text of Fannie Mae's April highlights, published Friday:

    - Fannie Mae's Book of Business decreased at a compound annualized rate of 2.1 percent in April.

    - Fannie Mae's Gross Mortgage Portfolio decreased at a compound annualized rate of 17.4 percent in April.

    - The Conventional Single - Family Serious Delinquency Rate fell five basis points to 1.73 percent in April; the Multifamily Serious Delinquency Rate decreased two basis point to 0.07 percent in April.

    - The Effective Duration Gap on Fannie Mae's portfolio averaged zero months in April.

    - Fannie Mae completed 9,279 loan modifications in April for a total of 35,979 loan modifications in the four months ended April 30, 2015.

    --MNI Washington Bureau; tel: +1 202

  • 2015-05-28 14:52

    --Pending Home Sales Rpt Has 'Less Robust' Sample, May Skew to 'Hot Markets'

    WASHINGTON (MNI) - One thing you can be sure of, seeing Thursday's data on pending home sales and Tuesday's report on April new-home sales, is that what's coming up for the housing market is - pick an answer - accelerating strength, a jeopardized rebound or just continuing confusion.

    Despite the data, question marks remain about housing since the Federal Reserve's rate action is pending, average mortgage rates are already topping 4% two weeks in a row according to one measure and Realtors complain of supply problems driving up prices at a rate approaching double digits.

  • 2015-05-28 10:31

    WASHINGTON (MNI) - The following are highlights from the New York Federal Reserve Bank's SCE Housing Survey released Thursday:

    The Federal Reserve Bank of New York today released results from its 2015 SCE Housing Survey. The findings reveal that home price growth expectations were largely unchanged from last year's survey, with households, on average, expecting a 4.4 percent growth in home prices over the next year.

    Also, on average, households expected mortgage rates to increase in coming years, but at a moderate pace. Attitudes towards housing as a financial investment remained decidedly positive.