U.S. Data

  • 2020-01-16 13:27

    By Jean Yung

    WASHINGTON (MNI) - The U.S. Department of Labor will ban journalists from using computers during the 30 minutes they are typically given to view reports ahead of release time, an effort to eliminate any unfair competitive advantage for certain high-speed algorithmic trading firms who subscribe to media feeds.

    The change is effective March 1, Bureau of Labor Statistics Commissioner William Beach said.

    "These updated procedures will strengthen the security of our data and offer the general public equitable and timely access," Beach said in a letter to media dated Thursday.

  • 2019-10-29 12:00

    By Alexandra Kelley

    WASHINGTON (MNI) - U.S. economic growth is expected to fade again in the third quarter on weak business investment.

    Gross domestic product expanded at a 1.6% pace according to the Bloomberg median, slower than 2% in the second quarter and 3.1% in the first three months of the year.

    Similarly, the GDP Price Index is expected to decline to 1.9% from 2.4%. This anticipated figure comes close to the lowest reading in the past six quarters, which was 1.1% in the fourth quarter of 2018.

    Some points to watch on Wednesday are:

    -Business investment is expected to remain soft amid continued trade tensions. With a 1.1% decline in durable orders, companies appear to be shying away from capital purchases.

  • 2019-10-25 15:02

    WASHINGTON (MNI) - The following are highlights of forecasts and comments for upcoming U.S. economic indicators, with the survey medians provided by Bloomberg.

    September Trade Gap (billions) Monday, October 28 at 8:30 a.m. EST Actual: Median Sep19 Aug19 Jul19 Gap: -73.5 -- -72.8 -72.3

    Comments: The trade gap is expected to widen in September to -73.5 from the -72.8 seen in August. This increase comes amid continuous global trade tensions.

    September Wholesale Inventory (percent change) Monday, October 28 at 8:30 a.m.

  • 2019-10-15 14:18

    WASHINGTON (MNI) - Retail sales are expected to rise at a slightly slower rate in September with consumer spending still driving the U.S. economy through a global slowdown. Here are some highlights to look out for:

    -Sales are expected to rise 0.3% in September according to the Bloomberg median, following a 0.4% increase in August. New and used vehicle prices dropped in September, likely keeping September auto sales high. However, falling gasoline prices should drive down gas station spending, which could hold down the headline number.

    - Expected monthly rise would be the seventh in a row.

  • 2019-10-15 08:00

    --IMF Urges Undoing Trade Barriers, Fiscal Support

    WASHINGTON (MNI) - The International Monetary Fund downgraded its 2019 global growth forecast to 3%, the slowest since the global financial crisis, in the face of what it described as a "synchronized slowdown" prompted by rising trade barriers and uncertainty, as well as low productivity growth in the rich world.

    In its October World Economic Outlook, the IMF also cut its growth forecast for 2020 by 0.2 percentage point to 3.4%, noting that next year's improved performance would not be "broad based and is precarious," with advanced economy growth stuck at 1.7%.

  • 2019-10-09 12:29

    By Brooke Migdon

    WASHINGTON (MNI) - U.S. consumer inflation is expected to rise 0.1% in September, matching August's sluggish pace on declining energy prices. Core CPI is expected to rise more slowly, with markets calling for a 0.2% increase after August's 0.3% gain.

    Energy prices likely fell in September, despite a spike in gasoline in the middle of the month stemming from the disruption of Saudi oil production. Gasoline prices accounting for 4% of the total CPI basket fell 7.2% in September and average energy prices were lower, providing some downside risk for the headline number.

    President Donald Trump's retaliatory tariffs on imported goods from China are likely to be felt in core CPI.

  • 2019-10-03 14:03

    By Alexandra Kelley

    WASHINGTON (MNI) - U.S. tensions with global trading partners may not cause as much weakness in the service industry as it has for manufacturing, ISM survey chairman Anthony Nieves told MNI.

    The ISM non-manufacturing index fell to the lowest in three years on trade tensions and difficulty finding workers, the group reported Thursday. The index fell to 52.6 in September from 56.4 in August, suggesting a slower expansion.

    The majority of non-manufacturing indices including new orders and employment also showed a slower expansion. At the same time, higher construction labor costs helped boost the ISM price index, suggesting some companies are still struggling to keep up with demand.

  • 2019-10-03 12:10

    By Alexandra Kelley

    WASHINGTON (MNI) - U.S. nonfarm payroll growth is forecast to quicken to 146,000 in September from August's 130,000 even amid trade tensions and weakness in manufacturing.

    Here are some key points to watch in Friday's release:

    -It would be the first pickup in payroll growth in three months, though still short of gains of 159,000 in July and 178,000 in June.

    -Private and service sector jobs are expected to move up to 130,000 in September after the 96,000 gain in August. IHS Markit's Flash Services PMI showed employment accelerating slightly in response to increased production requirements.

    -Service employment growth is expected to rise, driven by increased staffing within the U.S. Census Bureau in preparation for the 2020 census.

  • 2019-10-01 12:45

    By Brooke Migdon

    WASHINGTON (MNI) - The Institute for Supply Management's factory index plummeted to a 10-year low in September, reflecting slowing global demand and trade disputes with China, the group's survey chairman Tim Fiore told MNI.

    The ISM index fell to 47.8 in September from 49.1 in August, which itself was the first reading in three years that came in below 50 to signal a contraction. The September figure is the lowest since June 2009 around the end of the Great Recession.

  • 2019-09-19 09:48

    By Brooke Migdon

    WASHINGTON (MNI) - The pace of existing home sales rose by 1.3% to a 5.49 million annual rate in August, the fastest pace in more than a year, the National Association of Realtors said Thursday.

    NAR Chief Economist Lawrence Yun said underperforming home sales may finally be picking up.

    "Perhaps we have turned a corner for good," he told reporters on Thursday, adding that "historically low" mortgage rates have bolstered recent home buying.

    Yun said mortgage rates have always been a "powerful" force in the housing sector and are continuing to entice buyers into the market. But many realtors and buyers alike are hesitating due to expectations that the Federal Reserve could cut benchmark rates further, potentially impacting mortgages.