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Economy

Economic Data (USA)

Wednesday, July 31, 2024

Consumer Confidence Index (CCI) for July 2024

Consumer Confidence Index® (CCI) for this month (July, 2024) was released by The Conference Board® this morning:

================

Predicted: 100.0
  • Actual: 100.3

================

Previous Month (revised): 97.8

  • Change from Previous Month: +2.6% (+2.5 points)
================

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

From Today's Report:

"...The Conference Board Consumer Confidence Index® rose in July to 100.3 (1985 = 100), from a downwardly revised 97.8 in June. The Present Situation Index -- based on consumers’ assessment of current business and labor market conditions -- declined to 133.6 from 135.3 last month. Meanwhile, the Expectations Index -- based on consumers’ short-term outlook for income, business, and labor market conditions improved in July to 78.2. That’s up from 72.8 in June but still below 80 (the threshold which usually signals a recession ahead). The cutoff date for the preliminary results was July 22, 2024.

'Confidence increased in July, but not enough to break free of the narrow range that has prevailed over the past two years,' said Dana M. Peterson, Chief Economist at The Conference Board. 'Even though consumers remain relatively positive about the labor market, they still appear to be concerned about elevated prices and interest rates, and uncertainty about the future; things that may not improve until next year.'

'Compared to last month, consumers were somewhat less pessimistic about the future. Expectations for future income improved slightly, but consumers remained generally negative about business and employment conditions ahead. Meanwhile, consumers were a bit less positive about current labor and business conditions. Potentially, smaller monthly job additions are weighing on consumers’ assessment of current job availability: while still quite strong, consumers’ assessment of the current labor market situation declined to its lowest level since March 2021.'

Peterson added: 'The proportion of consumers predicting a forthcoming recession ticked up in July but remains well below the 2023 peak. Consumers’ assessments of their Family’s Financial Situation -- both currently and over the next six months -- was less positive. Indeed, assessments of familial finances have deteriorated continuously since
the beginning of 2024.'

Average 12-month inflation expectations remained stable at 5.4% in July, compared to a peak of 7.9% reported in 2022. The share of consumers expecting higher interest rates over the next 12 months dropped for the second month in a row to 50.3% -- the lowest since February 2024. Meanwhile, consumers were positive about the stock market, with 49.1% expecting stock prices to increase over the year ahead (the highest share since March), 23.5% expecting a decrease, and 27.4% expecting no change.

July’s write-in responses showed that elevated prices, especially for food and groceries, and inflation (the rate of change in prices
), remain the key drivers of consumers’ views of the economy, followed by the US political situation and the labor market. Mentions about the forthcoming elections increased, although the share of respondents believing the 2024 election would impact the economy was lower than write-ins from July 2016.

2024 election would impact the economy was lower than write-ins from July 2016. On a six-month moving average basis, purchasing plans for homes fell to a 12-year low. While buying plans for cars were little changed, buying plans for most big-ticket appliances increased slightly. Additionally, more consumers reported plans to buy a smartphone or laptop/PC in the next six months..."
================

Every month, The Conference Board sends a questionnaire to 5,000 U.S. households. Survey participants are polled about their feelings regarding the U.S. economy, current and future, and about their own fiscal circumstances. On average, 3,500 participants complete and return the 5-question survey.

  • The baseline "100" score for the CCI is associated with 1985 survey data.


When consumers feel good about the economy, they tend to do more spending, and vice versa.

Based in New York City, The Conference Board is a private, not-for-profit organization with a mission to, "create and disseminate knowledge about management and the marketplace to help businesses strengthen their performance and better serve society."

The CCI is usually released on the last Tuesday of the month.

================   

CHART: Consumer Confidence Index (CCI) JULY 2024 Update
CHART: Consumer Confidence Index (CCI)
JULY 2024 Update


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Monday, July 29, 2024

New Home Sales During June, 2024

The June, 2024 New Home Sales report was released by the Commerce Department this morning:

------------------------------------------------------

Previous Month (revised): 621,000

  • Actual New Home Sales: 617,000

------------------------------------------------------

  • Change from 1 Month Previous: -4,000 units (-0.644%)

  • Change from 1 Year Previous: -49,000 units (-7.36%)


------------------------------------------------------

Median Price for a New Home
During June, 2024: $417,300
 

***************************

Average Price for a New Home
During June, 2024: $487,200

------------------------------------------------------

Inventory: 480,000 (9.1 months supply at current sales rate; seasonally‐adjusted estimate.)

------------------------------------------------------

================================

CHART: New Home Sales - June, 2024 Update
CHART: New Home Sales
June, 2024 Update

================================


================================


Compiled jointly by the U.S. Commerce Department and the U.S. Department of Housing and Urban Development, the yellow-highlighted figure above is the seasonally adjusted and annualized number of newly-built homes with committed buyers for the indicated month.

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

The New Home Sales report is watched by economists and investors because it offers insight into the state of the U.S. housing market, and also provides data that can be used to predict sales of large household furniture and appliances like refrigerators, air conditioners, microwave ovens, etc.


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Saturday, July 27, 2024

PCE Price Index + Personal Income + Consumer Spending Report for June 2024

The Commerce Department's Bureau of Economic Analysis (BEA) released its report on The PCE Price Index, Consumer Spending and Personal Income for June,  2024:

=============

Consumer Spending (Personal Consumption Expenditures)

Previous Reading (revised): +0.4%
  • Actual: +0.3%
  • Actual: (2017 Chained* Dollars): +0.2%
=============

Personal Income

Previous Reading: (revised) +0.4%
  • Actual: +0.2%
=============

  • Disposable Personal Income (DPI), Now Dollars: +0.2%
  • DPI (2017 Chained* Dollars): +0.1%

=============

The above highlighted percentages represent the month-to-month change in Consumer Spending (aka Personal Consumption Expenditures), Personal Income and Disposable Personal Income for the entire United States.

=============

Personal Consumption Expenditures (PCE) Price Index
Previous Reading: FLAT
  • Actual: +0.1% 
  • Change from 12 months previous: +2.5%
=====================

Core PCE Price Index
( = PCE Price Index minus food and energy)
Previous Reading: +0.1%
  • Actual: +0.2%
  • Change from 12 months previous: +2.6%
=====================

The yellow-highlighted percentages represent the month-to-month change in the prices associated with domestic personal consumption.  The PCE Price Index is different from the Consumer Price Index (CPI) in that it is a very broad measure of the prices associated with domestic products and services, while the CPI measures a more limited fixed basket of goods and services.

The broad nature of the PCE Price Index is key to why it is the Federal Reserve's preferred measure of inflation.  The Federal Open Market Committee (FOMC) pays very close attention to it.

=====================

The "predicted" figures are what economists were expecting, while the "actual" figures are the true or real figure.

=====================

Click here to view the full
Commerce Department report (PDF)


===================== 
CHART: Disposable Personal Income, Outlays + Savings - June 2024 Update
CHART: Disposable Personal Income,
Outlays + Savings - June 2024 Update

   =====================
   =====================

*Chained dollars is a method of adjusting real dollar amounts for inflation over time, so as to allow comparison of figures from different years. The Commerce Department introduced the chained-dollar measure in 1996. Chained dollars generally reflect dollar figures computed with 2012 as the base year.

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Wednesday, July 24, 2024

Existing Home Sales During June 2024

Existing Home Sales report for June 2024 was released by The National Association of Realtors® (NAR®) this morning:

======================

Previous Month: 4,110,000

  • Actual: 3,890,000
======================

  •  Change from Previous Month: -5.35% (-220,000 homes)

  •  Change from A Year Ago: -5.35% (-220,000 homes)
==========

Inventory: 1,320,000 (4.1 months supply.)

==========

The yellow-highlighted, "actual" figure above represents the preliminary, seasonally adjusted annualized sales count of existing homes, co-ops and condominiums for the indicated month. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

------------------------------------------------------

  • Median Price: $426,900

  • Price Change from A Year Ago: +4.097% (+$16,800)

------------------------------------------------------ 

==========

==========

From Today's Report:

"...Existing-home sales fell in June as the median sales price climbed to the highest price ever recorded for the second consecutive month, according to the National Association of REALTORS®. All four major U.S. regions posted sales declines. Year-over-year, sales waned in the Northeast, Midwest and South but were unchanged in the West.

'We're seeing a slow shift from a seller's market to a buyer's market,' said NAR Chief Economist Lawrence Yun. 'Homes are sitting on the market a bit longer, and sellers are receiving fewer offers. More buyers are insisting on home inspections and appraisals, and inventory is definitively rising on a national basis.'

Total housing inventory registered at the end of June was 1.32 million units, up 3.1% from May and 23.4% from one year ago (1.07 million). Unsold inventory sits at a 4.1-month supply at the current sales pace, up from 3.7 months in May and 3.1 months in June 2023. The last time unsold inventory posted a four-month supply was May 2020 (4.5 months.)

The median existing-home price for all housing types in June was $426,900, an all-time high and an increase of 4.1% from one year ago ($410,100). All four U.S. regions registered price gains.

'Even as the median home price reached a new record high, further large accelerations are unlikely,' Yun added. 'Supply and demand dynamics are nearing a balanced market condition. The months supply of inventory reached its highest level in more than four years.'..
."


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INFOGRAPHIC: Existing Home Sales JUNE UPDATE
INFOGRAPHIC: Existing Home Sales

JUNE UPDATE

==================


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Friday, July 19, 2024

Leading Economic Index for June 2024

The Conference Board® released its Leading Economic Index® (LEI) for June 2024 this morning:

==============

Index for June 2024: 101.1 (The baseline 100 score is associated with 2016 data.)

==============

Predicted: -0.2%

  • Actual: -0.2% (-0.2 point M/M)

  • Change from 12 Months Ago: -4.71% (-5.0 points)

==============

  • LEI for May 2024: 101.3

  • LEI for April 2024: 101.7
     
  • LEI for March 2024: 102.3

  • LEI for February 2024: 102.6
     
  • LEI for January 2024: 102.6

  • LEI for December 2023: 103.1

  • LEI for November 2023: 103.3

  • LEI for October 2023: 103.8

  • LEI for September 2023: 104.7

  • LEI for August 2023: 105.5

  • LEI for July 2023: 105.9

  • LEI for June 2023: 106.1

  • LEI for May 2023: 106.7

  • LEI for April 2023: 107.4

  • LEI for March 2023: 108.3

  • LEI for February 2023: 109.6

  • LEI for January 2023: 110.2

  • LEI for December 2022: 110.7

  • LEI for November 2022: 111.5

  • LEI for October 2022: 112.5

  • LEI for September 2022: 113.5

  • LEI for August 2022: 116.4

  • LEI for July 2022: 116.4

  • LEI for June 2022: 117.1

  • LEI for May 2022: 117.9

  • LEI for April 2022: 118.7

  • LEI for March 2022: 119.3

  • LEI for February 2022: 119.4

  • LEI for January 2022: 118.5

==============

The yellow-highlighted percentage is the month-to-month change for the index.  The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

The LEI is a composite of 10 of the nation's economic data releases that's put together by The Conference Board. Statistically, the components listed below have shown a significant increase or decrease before national economic upturns or downturns:

  1. The Standard + Poor's 500 Index

  2. Average weekly claims for unemployment insurance

  3. Building permits for new private housing

  4. The interest rate spread between the yield on the benchmark 10-Year Treasury Note and Federal Funds

  5. ISM® Index of New Orders

  6. Manufacturer's new orders for consumer goods or materials

  7. Manufacturers' new orders, non-defense capital goods excluding aircraft orders

  8. Average weekly manufacturing hours

  9. Average consumer expectations for business conditions

  10. Leading Credit Index™
==============

CHART: Leading Economic Index 6-Month Growth Rate with Warning + Recession Signals - JUNE 2024 UPDATE

CHART: Leading Economic Index
6-Month Growth Rate
with Warning + Recession Signals
JUNE 2024 UPDATE
==============
 
From Today's Report:

"...'The US LEI continued to trend down in June, but the contraction was smaller than in the past three months,' said Justyna Zabinska-La Monica, Senior Manager, Business Cycle Indicators, at The Conference Board. 'The decline continued to be fueled by gloomy consumer expectations, weak new orders, negative interest rate spread, and an increased number of initial claims for unemployment.

However, due to the smaller month-on-month rate of decline, the LEI’s long-term growth has become less negative, pointing to a slow recovery. Taken together, June’s data suggest that economic activity is likely to continue to lose momentum in the months ahead. We currently forecast that cooling consumer spending will push US GDP growth down to around 1 percent (annualized) in Q3 of this year.'

NOTE: Starting with the September 2023 release, Leading Credit Index™ calculations (from 2020 to current) use the SOFR Overnight Financing Rate in the USD Swap spread semiannual 2 year instead of LIBOR rate. LIBOR remains in the USD Swap spread semiannual 2 year from 1990 to 2020..
."

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Thursday, July 18, 2024

New Unemployment Insurance Claims for The Week of July 13, 2024

Jobless Claims
Jobless Claims


Earlier today, the Labor Department released its weekly report on New Jobless Insurance Claims for the week that ended on July 13, 2024:

====================

Predicted: 240,000

  • Actual: 243,000
====================

The yellow-highlighted figure represents the number of first-time claims for unemployment benefits for the entire United States. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

  • Previous Week (revised): 223,000
  • 4-Week Moving Average: 234,750

====================

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Import and Export Price Indexes for June 2024

The Labor Department's Bureau of Labor Statistics this morning released its report on U.S. Import and Export Price Indexes for June 2024:

===============

Import Prices
Previous Reading: -0.2% (revised)
Actual: FLAT

Change From 12 Months Previous: +1.6%

===============

Export Prices
Previous Reading: -0.7% (revised)
Actual: -0.5%

Change From 12 Months Previous: +0.7%

===============
 
The above percentages, highlighted in yellow, represent the month-to-month change in prices for:

  • Imports: the cost of goods produced in other countries and sold in the United States.
  • Exports: the cost of goods produced in the USA and sold in other countries.


Together, these indexes offer insight into the status of inflation in the United States, and for the global economy as well. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

=================

CHART: Import Price Index - June 2024 Update
CHART: Import Price Index
June 2024 Update

================= 

CHART: Export Price Index - June 2024 Update
CHART: Export Price Index
June 2024 Update

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============

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Wednesday, July 17, 2024

U.S. Retail And Food Services Sales Report for June 2024

The Commerce Department this morning released advance estimates of U.S. Retail and Food Services Sales for June 2024:

=================

Previous Month (revised): +0.3%

  • Actual:  -0.023% (-159,000)
=================

The yellow-highlighted percentage above represents the month-to-month , seasonally adjusted change in total sales receipts for retailers that sell durable and non-durable goods, and retailers that provide food and beverage services.

=================

  • Estimated Retail Sales During June 2024: $704,324,000,000
  • Change From A Year Ago: +2.28% (+$15,694,000,000)

=================
CHART: Retail Sales - Monthly January 2004 Thru December 2024 JUNE 2024 UPDATE - Seasonally Adjusted
CHART: Retail Sales - Monthly
January 2004 Thru December 2024
JUNE 2024 UPDATE - Seasonally Adjusted
=================

=================

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Friday, July 12, 2024

Producer Price Index - Final Demand (PPI-FD) for June 2024

The Producer Price Index - Final Demand (PPI-FD) for June 2024 was released this morning:

===============================

Previous Month (revised): FLAT

  • Actual: +0.2%

Change from 12 months previous:  +2.6%  (prior = +2.2%)

=============


Below is the PPI-FD when food, energy and trade services are removed:

Previous Month (revised): +0.2%

  • Actual: FLAT
Change from 12 months previous:  +3.1%  (prior = +3.2%)

===============================

The above, yellow-highlighted percentages represent the month-to-month change in prices received by domestic producers of goods and services, for goods, services and construction in the United States, for final demand.

Final Demand = personal consumption (consumers), exports, government purchases and capital investment.

The PPI-FD is released by the Labor Department's Bureau of Labor Statistics.

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.


 ==============

CHART: Producer Price Index   Final Demand (PPI-FD) 12-Month Percent Change - JUNE 2024 Update
CHART: Producer Price Index
  Final Demand (PPI-FD)
12-Month Percent Change
JUNE 2024 Update
==============

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Consumer Price Index (CPI) for June 2024

Earlier this morning, the Labor Department's Bureau of Labor Statistics released the Consumer Price Index (CPI) for June 2024:


=========================================

CPI During June 2024: 314.175

=========================================

Consumer Price Index, Headline

Predicted: +0.5%

->  Actual: +0.034% (+0.106 points) M/M

 > Year-on-Year Change: +2.97% (+9.066 points)


=========================================

Consumer Price Index, Minus Food + Energy (Core CPI)

Predicted: +0.5%

 - > Actual: +0.117% (+0.374 point) M/M

Year-on-Year Change: +3.27% (+10.093 points)


=========================================

The above, yellow-highlighted figures represent month-to-month change (not seasonally adjusted) in prices for a specific group of goods and services that consumers buy, and is, therefore, a very important part of the overall inflation picture for the country.

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

General categories that constitute the CPI are:

  • Healthcare
  • Housing
  • Clothing
  • Communications
  • Education
  • Transportation
  • Food and Beverages
  • Recreation
  • Miscellaneous Goods and Services (grooming expenses, etc.)

========================================

CPI During June 2023: 305.109

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CHART: Consumer Price Index 12-Month Percentage Change - June 2024 Update
CHART: Consumer Price Index
12-Month Percentage Change
June 2024 Update

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Friday, July 05, 2024

Employment Situation Report for June 2024

The Employment Situation Report for June 2024 was released by The Department of Labor's Bureau of Labor Statistics this morning:


Nonfarm Payrolls (month-to-month change)
Actual: +206,000
Previous Month (Revised): 218,000
One Year Previous: 240,000

U-3 Unemployment Rate (Headline)
Actual: 4.1%
Previous Month: 4.0%
12 Months Previous: 3.6%

U-6 Unemployment Rate*
Actual: 7.4%
Previous Month: 7.4%
12 Months Previous: 6.9%

Average Hourly Earnings (month-to-month change)
Predicted: +0.4%
Actual: +0.287% (+$0.10)

Average Hourly Earnings (year-on-year change)
Predicted: +4.1%
Actual: +3.86% (+$1.30)

Average Weekly Earnings (month-to-month change)
Actual: +0.
287% (+$3.43)

Average Weekly Earnings (year-on-year change)
Actual: +3.56% (+$41.22)

Civilian Labor Force Participation Rate: 62.6%
Previous Month: 62.5%
12 Months Previous: 62.6%

Average Workweek: 34.3 hours
Previous Month: 34.3 hours
One Year Previous: 34.3 hours

Economist, academics, central bankers and investors pay very close attention to the monthly Employment Situation report as it offers penetrating insight as to the current and near-future state of the overall U.S. economy. If a) Americans are earning more money and b) the economy is creating new jobs, this typically translates to more money being pumped into the economy (and vice versa.)

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

===================
CHART: Civilian Unemployment Rate - June 2004 THRU June 2024
 CHART: Civilian Unemployment Rate
June 2004 THRU June 2024
   ===================

 * =  The U-6 Unemployment Rate is defined as:

"Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force."

===================


===================


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New Unemployment Insurance Claims for The Week of June 29, 2024

Jobless Claims
Jobless Claims


Earlier today, the Labor Department released its weekly report on New Jobless Insurance Claims for the week that ended on June 29, 2024:

====================

Predicted: 235,000

  • Actual: 238,000
====================

The yellow-highlighted figure represents the number of first-time claims for unemployment benefits for the entire United States. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

  • Previous Week (revised): 234,000
  • 4-Week Moving Average: 238,500

====================

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Thursday, July 04, 2024

Crude Oil Inventories Report for Week of June 28, 2024

Crude Oil Inventories
Crude Oil Inventories


The U.S. Crude Oil Inventories report for the week that ended on June 28, 2024 was released this morning:

-- Change from Last Week: -12,200,000 Barrels

-- Change from A Year Ago (Y/Y): -3,600,000 Barrels

-- Current U.S. Crude Oil Stocks: 448,500,000 Barrels

Diminishing crude oil inventories often translate to higher crude oil and fuel prices (and vice versa), but not always.

The report is produced by the U.S. Energy Information Administration (EIA).

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Wednesday, July 03, 2024

U.S. Factory Shipments During May 2024

The U.S. Census Bureau this morning released their report on Manufacturers' Shipments, Inventories and Orders -- also known as Factory Orders -- for May 2024:

========

Predicted: FLAT

  • Actual: -0.717% (-4,224,000,000)

========

  • May 2024 New Shipments: $584,805,000,000.

  • April 2024 New Shipments: $589,029,000,000.


========

 Year-to-Date Change: +$57,178,000,000 (+2.02%)

 ========

The yellow-highlighted percentage is the month-to-month change in new shipments for both durable and nondurable goods made by U.S. manufacturers. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

=============

CHART: U.S. Factory Orders May 2022 Update

CHART: U.S. Factory Orders
May 2022 Update


=======
======


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Tuesday, July 02, 2024

Job Openings and Labor Turnover Survey (JOLTS) for May 2024

Job Openings and Labor Turnover Survey (JOLTS*) for May 2024 was released by the Labor Department this morning:

=============

Job Openings

Predicted: 8,000,000
  • Actual:   8,140,000
-------------------------
  • Previous Month (revised): 7,919,000

  • One Year Previous: 9,311,000

  • Change from one year previous: -12.58% (-1,171,000)


=============

HIRES: 5,756,000

HIRES vs. 12 Months Previous: -6.73% (-415,000)

-----------

QUITS: 3,459,000

QUITS vs. 12 Months Previous: -13.72% (-550,000)


-----------

LAYOFFS + DISCHARGES: 1,654,000 

LAYOFFS + DISCHARGES vs. 12 Months Previous: +8.03% (+123,000)

-----------

TOTAL SEPARATIONS §: 5,422,000

TOTAL SEPARATIONS vs. 12 Months Previous: -7.25% (-424,000)

=============
 

§ = Here's How The Labor Department Defines Total Separations:


"Total separations includes quits, layoffs and discharges, and other separations. Total separations is referred to as turnover. Quits are generally voluntary separations initiated by the employee. Therefore, the quits rate can serve as a measure of workers’ willingness or ability to leave jobs. Layoffs and discharges are involuntary separations initiated by the employer. Other separations includes separations due to retirement, death, disability, and transfers to other locations of the same firm."

=============

CHART: Number of Jobless People per Job Opening - MAY 2024 UPDATE
CHART: Number of Jobless People
per Job Opening
MAY 2024 UPDATE

=============
=============

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ISM Manufacturing Index for June 2024

Earlier today, the Institute for Supply Management® (ISM®) released their Manufacturing Purchasing Manager's Index (PMI®) for June 2024:

=========

Predicted: 49.0%

  • Actual: 48.5% (-0.2 point month-on-month change)

=========

Previous month (revised): 48.7%

=========

Every month, the ISM surveys purchasing and supply executives at hundreds of companies across the country who are involved in manufacturing in some form. The resulting index is watched closely by academics, economists and investors because manufacturing accounts for about 12% of U.S. Gross Domestic Product (GDP).

The PMI is a reliable barometer of U.S. manufacturing: A PMI above 50% implies that U.S. manufacturing expanded during the month specified, while a reading below 50% implies that the made-in-the-USA sector contracted.

=========

From Today's Report:

"...Economic activity in the manufacturing sector contracted in June for the third consecutive month and the 19th time in the last 20 months, say the nation's supply executives in the latest Manufacturing ISM® Report On Business®..."

=========

The Following Is A Sampling Of Quotes
From A Diverse Pool Of U.S. Manufacturers:

  •     'High volume of customer orders.'
     [Chemical Products]

  •     'Customers continue to cut orders with short notice, causing a ripple effect throughout lower-tier suppliers.'
     [Transportation Equipment]

  •     'Consumer demand and inventories are no longer stable at retail and food service establishments.'
     [Food, Beverage + Tobacco Products]

  •     'While orders are still steady, inventory from the previous month is enough to satisfy current- and near-term commitments.'
     [Computer + Electronic Products]

  •     'Customers ordering more to create buffer stocks (in case of) future shortages.'
     [Electrical Equipment, Appliances + Components]

  •     'Order levels in two of our main divisions are indicating weak demand, and now we must work to reduce inventory levels.'
     [Fabricated Metal Products]

  •     'Sales backlog is decreasing. We have furloughed a portion of our workforce as a result.'
     [Machinery]

  •     'The level of production is lower due to decreased demand for products.'
     [Miscellaneous Manufacturing]

  •     'Elevated financing costs have dampened demand for residential investment. We have reduced inventories of production components.'
     [Wood Products]

  •     'Orders have increased slightly due to seasonal restocking.'
     [Plastics + Rubber Products]

==========

 

CHART: ISM Manufacturing Index
 June 2024 Update

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