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United States Existing Home Sales Month over Month July 2019

United States Existing Home Sales

Sales of previously owned houses in the US rose 2.5 percent from the previous month to a seasonally adjusted annual rate of 5.42 million in July 2019, slightly above market expectations of 5.39 million. Sales of single family homes advanced 2.8 percent to 4.84 million, reversing a 1.1 percent decline in the previous month; while sales of condos were unchanged at 0.58 million, after a 3.3 percent slump in June. The median house price stood at $280,800 in July, compared to $285,300 in June and $269,300 a year earlier. The months’ worth of supply fell to 4.2 from 4.4. Year-on-year, existing home sales rebounded 0.6 percent, the first annual gain in 17 months. Existing Home Sales in the United States averaged 3963 Thousand from 1968 until 2019, reaching an all time high of 7250 Thousand in September of 2005 and a record low of 1370 Thousand in March of 1970.

Calendar GMT Actual Previous Consensus TEForecast
2019-07-23 02:00 PM Existing Home Sales MoM Jun -1.7% 2.9% -0.2% -3.6%
2019-07-23 02:00 PM Existing Home Sales Jun 5.27M 5.36M 5.33M 5.15M
2019-08-21 02:00 PM Existing Home Sales MoM Jul 2.5% -1.3% 2.5% 1.9%
2019-08-21 02:00 PM Existing Home Sales Jul 5.42M 5.29M 5.39M 5.37M
2019-09-19 02:00 PM Existing Home Sales Aug 5.42M 5.38M
2019-10-22 02:00 PM Existing Home Sales Sep 5M
2019-11-21 03:00 PM Existing Home Sales Oct  

https://tradingeconomics.com/united-states/existing-home-sales

 

 

 

 

 

 

 

 

US Job Openings June 2019

The number of job openings in the US were little-changed at 7.348 million in June 2019, compared to a revised 7.384 million in the previous month and market expectations of 7.317 million. Job openings declined in leisure and hospitality (-93,000), but increased in real estate and rental and leasing (+38,000) as well as state and local government education (+20,000). Meanwhile, hiring fell by 58,000 jobs to 5.702 million. Job Offers in the United States averaged 4428.65 Thousand from 2000 until 2019, reaching an all time high of 7626 Thousand in November of 2018 and a record low of 2264 Thousand in July of 2009

https://tradingeconomics.com/united-states/job-offers

 

 

Unemployment Rate July 2019

US Jobless Rate Holds Steady at 3.7%

The US unemployment rate stood at 3.7 percent in July 2019, unchanged from the previous month’s figure and in line with market expectations. The number of unemployed increased by 88 thousand to 6.1 million while employment went up by 283 thousand to 157.3 million.

Among the major worker groups, the unemployment rate for Asians increased to 2.8 percent in July. The jobless rates for adult men (3.4 percent), adult women (3.4 percent), teenagers (12.8 percent), Whites (3.3 percent), Blacks (6.0 percent), and Hispanics (4.5 percent) showed little or no change over the month.

The number of persons unemployed less than 5 weeks increased by 240,000 to 2.2 million, while the number of long-term unemployed (those jobless for 27 weeks or more) declined by 248,000 to 1.2 million. The long-term unemployed accounted for 19.2 percent of the unemployed.

In July, the labor force participation rate was 63.0 percent, and the employment- population ratio was 60.7 percent. Both measures were little changed over the month and over the year. 

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) declined by 363,000 in July to 4.0 million. These individuals, who would have preferred full-time employment, were working part time because their hours had been reduced or they were unable to find full- time jobs. Over the past 12 months, the number of involuntary part-time workers has declined by 604,000.

In July, 1.5 million persons were marginally attached to the labor force, essentially unchanged from a year earlier. (Data are not seasonally adjusted.). These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. Among the marginally attached, there were 368,000 discouraged workers in July, down by 144,000 from a year earlier. Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.1 million persons marginally attached to the labor force in July had not searched for work for reasons such as school attendance or family responsibilities.

Calendar GMT Actual Previous Consensus TEForecast
2019-05-03 12:30 PM Unemployment Rate Apr 3.6% 3.8% 3.8% 3.8%
2019-06-07 12:30 PM Unemployment Rate May 3.6% 3.6% 3.6% 3.7%
2019-07-05 12:30 PM Unemployment Rate Jun 3.7% 3.6% 3.6% 3.6%
2019-08-02 12:30 PM Unemployment Rate Jul 3.7% 3.7% 3.7% 3.6%
2019-09-06 12:30 PM Unemployment Rate Aug 3.7% 3.6%
2019-10-04 12:30 PM Unemployment Rate Sep 3.6%
2019-11-01 01:30 PM Unemployment Rate Oct 3.7%

https://tradingeconomics.com/united-states/unemployment-rate

 

Fed Rate Decision August 2019

Fed Lowers Rates, Leaves Door Open to Further Cuts

The Federal Reserve lowered the target range for the federal funds rate to 2-2.25 percent during its July meeting, the first rate cut since the financial crisis, as inflation remains subdued amid heightened concerns about the economic outlook and ongoing trade tensions with China. The central bank also said it “will act as appropriate to sustain” growth but during the press conference Chairman Powell said he did not view the move as the start of a lengthy series of rate cuts.

 

FOMC Statement:

Information received since the Federal Open Market Committee met in June indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have been solid, on average, in recent months, and the unemployment rate has remained low. Although growth of household spending has picked up from earlier in the year, growth of business fixed investment has been soft. On a 12-month basis, overall inflation and inflation for items other than food and energy are running below 2 percent. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed.

Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In light of the implications of global developments for the economic outlook as well as muted inflation pressures, the Committee decided to lower the target range for the federal funds rate to 2 to 2-1/4 percent. This action supports the Committee’s view that sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee’s symmetric 2 percent objective are the most likely outcomes, but uncertainties about this outlook remain. As the Committee contemplates the future path of the target range for the federal funds rate, it will continue to monitor the implications of incoming information for the economic outlook and will act as appropriate to sustain the expansion, with a strong labor market and inflation near its symmetric 2 percent objective.

In determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee will assess realized and expected economic conditions relative to its maximum employment objective and its symmetric 2 percent inflation objective. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments.

The Committee will conclude the reduction of its aggregate securities holdings in the System Open Market Account in August, two months earlier than previously indicated.

Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Michelle W. Bowman; Lael Brainard; James Bullard; Richard H. Clarida; Charles L. Evans; and Randal K. Quarles. Voting against the action were Esther L. George and Eric S. Rosengren, who preferred at this meeting to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent.

 

Calendar GMT Actual Previous Consensus TEForecast
2019-03-20 06:00 PM Fed Interest Rate Decision 2.5% 2.5% 2.5% 2.5%
2019-05-01 06:00 PM Fed Interest Rate Decision 2.5% 2.5% 2.5% 2.5%
2019-06-19 06:00 PM Fed Interest Rate Decision 2.5% 2.5% 2.5% 2.5%
2019-07-31 06:00 PM Fed Interest Rate Decision 2.25% 2.5% 2.25% 2.25%
2019-08-21 06:00 PM FOMC Minutes
2019-09-18 06:00 PM FOMC Economic Projections
2019-09-18 06:00 PM Fed Interest Rate Decision 2.25%

https://tradingeconomics.com/united-states/interest-rate

 

United States GDP Growth Rate Second Quarter 2019

United States GDP Growth Rate Second Quarter 2019

 

The US economy grew by an annualized 2.1 percent in the second quarter of 2019, beating market expectations of 1.8 percent and following a 3.1 percent expansion in the previous three-month period, the advance estimate showed. Household consumption and government spending increased at faster rates, while a slump in exports and a smaller inventory build made a negative contribution to growth. GDP Growth Rate in the United States averaged 3.21 percent from 1947 until 2019, reaching an all time high of 16.70 percent in the first quarter of 1950 and a record low of -10 percent in the first quarter of 1958.

 

 

 

Positive contributions from personal consumption expenditures (2.85 percentage points), federal government spending (0.51 percentage points), and state and local government spending (0.35 percentage points) were partly offset by negative contributions from private inventory investment (-0.86 percentage points), exports (-0.63 percentage points), nonresidential fixed investment (-0.08 percentage points) and residential fixed investment (-0.06 percentage points). Imports, which are a subtraction in the calculation of GDP, increased, posting a negative contribution of 0.01 percentage points.

Personal consumption expenditures (PCE) jumped 4.3 percent in the second quarter, the most since the fourth quarter of 2017, mainly boosted by consumption of goods (8.3 percent vs 1.5 percent in Q1), in particular durable goods (12.9 percent vs 0.3 percent). Also, services consumption growth accelerated (2.5 percent vs 1 percent). Federal government spending climbed 7.9 percent (vs 2.2 percent in Q1) and state and local government spending rose 3.2 percent (vs 3.3 percent in Q1).

 

By contrast, exports plunged 5.2 percent in the second quarter, after a 4.1 percent increase in Q1, due to lower sales of both goods (-5 percent vs 4.6 percent) and services (-5.6 percent vs 3.3 percent). On the other hand, imports edged 0.1 percent higher led by purchases of goods (0.2 percent vs -2.8 percent).

Business investment declined for the first time in three years by 0.6 percent, compared to a 4.4 percent advance in the previous three-month period, dragged by a contraction in structures investment (-10.6 percent vs 4 percent), which includes oil and gas well drilling. Meanwhile, investment in intellectual property products continued to rise solidly (4.7 percent vs 10.8 percent), and that in equipment rebounded (0.7 percent vs -0.1 percent).

Residential investment shrank for the sixth straight period (-1.5 percent vs -1 percent), the first such instance since the financial crisis.

 Calendar GMT Actual Previous Consensus TEForecast
2019-04-26 12:30 PM GDP Growth Rate QoQ Adv Q1 3.2% 2.2% 2% 2%
2019-05-30 12:30 PM GDP Growth Rate QoQ 2nd Est Q1 3.1% 2.2% 3.1% 3.2%
2019-06-27 12:30 PM GDP Growth Rate QoQ Final Q1 3.1% 2.2% 3.1% 3.1%
2019-07-26 12:30 PM GDP Growth Rate QoQ Adv Q2 2.1% 3.1% 1.8% 1.7%
2019-08-29 12:30 PM GDP Growth Rate QoQ 2nd Est Q2 3.1% 2.1% 2.1%
2019-09-26 12:30 PM GDP Growth Rate QoQ Final Q2 3.1% 2.1%
2019-10-30 12:30 PM GDP Growth Rate QoQ Adv Q3 2.2%

 

 

https://tradingeconomics.com/united-states/gdp-growth

 

Industrial Production Year over Year June 2019

Industrial Production in the United States Year over Year June 2019

Industrial Production in the United States increased 1.30 percent year-on-year in June of 2019, easing from an upwardly revised 2.1 percent gain in the prior month. Industrial Production in the United States averaged 3.73 percent from 1920 until 2019, reaching an all time high of 62 percent in July of 1933 and a record low of -33.70 percent in February of 1946.

United States Industrial Production

In the United States, industrial production measures the output of businesses integrated in industrial sector of the economy. Manufacturing is the most important sector and accounts for 78 percent of total production. The biggest segments within Manufacturing are: Chemicals (12 percent of total production); food, drink and tobacco (11 percent); machinery (6 percent); fabricated metal products (6 percent); computer and electronic products (6 percent); and motor vehicles and parts (6 percent). Mining and quarrying account for 11 percent of production and utilities account for the remaining 11 percent. This page provides the latest reported value for – United States Industrial Production – plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Industrial Production – actual data, historical chart and calendar of releases – was last updated on July of 2019.

Calendar GMT Actual Previous Consensus TEForecast
2019-04-16 01:15 PM Industrial Production YoY Mar 2.8% 3.5% 3.2%
2019-05-15 01:15 PM Industrial Production YoY Apr 0.9% 2.3% 2.8%
2019-06-14 01:15 PM Industrial Production YoY May 2% 0.9% 2.5%
2019-07-16 01:15 PM Industrial Production YoY Jun 1.3% 2.1% 1.7%
2019-08-15 01:15 PM Industrial Production YoY Jul 1.3% 2.7%
2019-09-17 01:15 PM Industrial Production YoY Aug 1.5%
2019-10-17 01:15 PM Industrial Production YoY Sep 1.6%

 

https://tradingeconomics.com/united-states/industrial-production

Inflation Year over Year June 2019

Inflation Year or Year June 2019

Core

Core consumer prices in the United States increased 2.10 percent in June of 2019 over the same month in the previous year. Core Inflation Rate in the United States averaged 3.62 percent from 1957 until 2019, reaching an all time high of 13.60 percent in June of 1980 and a record low of 0 percent in May of 1957.

Inflation Rate

The US annual inflation rate fell to 1.6 percent in June 2019 from 1.8 percent in the previous month, as food prices rose at a softer pace while energy cost continued to decline. The core inflation rate, which excludes volatile items such as food and energy, edged up to 2.1 percent, beating forecast of 2 percent. On a monthly basis, the core index increased 0.3 percent, the most since January 2018. Inflation Rate in the United States averaged 3.26 percent from 1914 until 2019, reaching an all time high of 23.70 percent in June of 1920 and a record low of -15.80 percent in June of 1921.

 

The US annual inflation rate fell to 1.6 percent in June 2019 from 1.8 percent in the previous month and in line with market expectations.

 

Energy prices plunged 3.4 percent, following a 0.5 percent fall in the previous month. Within energy commodities, gasoline cost declined 5.4 percent (vs -0.2 percent in May) and fuel oil went down 5.6 percent (vs -0.8 percent in May). Within energy services, electricity prices retreated 0.3 percent (vs -0.2 percent in May) and utility (piped) gas service cost dropped 2.1 percent (vs -2.6 percent in May). Declines were also seen in cost of apparel (-1.3 percent vs -3.1 percent) and medical care commodities (-1.5 percent vs -0.7 percent).

Food inflation eased to 1.9 percent in June from 2 percent in May, due in particular to food at home (0.9 percent vs 1.2 percent) while costs of food away from home rose at faster pace (3.1 percent vs 2.9 percent). Additional price increases were recorded for transportation services (0.9 percent vs 1.1 percent); medical care services (2.8 percent); shelter (3.5 percent vs 3.3 percent); new vehicles (0.6 percent vs 0.9 percent); and used cars and trucks (1.2 percent vs 0.3 percent).

The core inflation rate, which excludes volatile items such as food and energy, edged up to 2.1 percent in June from 2 percent in May, beating market consensus of 2 percent.

On a monthly basis, consumer prices gained 0.1 percent in June, the same pace as in May and below expectations of 0.2 percent. The food index was unchanged while the energy index fell 2.3 percent. Additional upward pressure came from shelter, used cars and trucks, and apparel, the indexes for household furnishings and operations, medical care, and motor vehicle insurance; while declines were seen in recreation, airline fares, and personal care. Core consumer prices increased 0.3 percent, the largest increase since January 2018 and also above forecasts of 0.2 percent.

Calendar GMT Actual Previous Consensus TEForecast
2019-04-10 12:30 PM Core Inflation Rate YoY Mar 2% 2.1% 2.1% 2.2%
2019-05-10 12:30 PM Core Inflation Rate YoY Apr 2.1% 2% 2.1% 2%
2019-06-12 12:30 PM Core Inflation Rate YoY May 2% 2.1% 2.1% 2.1%
2019-07-11 12:30 PM Core Inflation Rate YoY Jun 2.1% 2% 2% 2%
2019-08-13 12:30 PM Core Inflation Rate YoY Jul 2.1% 2.1%
2019-09-12 12:30 PM Core Inflation Rate YoY Aug 2%
2019-10-10 12:30 PM Core Inflation Rate YoY Sep 2%

 

 

https://tradingeconomics.com/united-states/inflation-cpi

https://tradingeconomics.com/united-states/core-inflation-rate

 

 

 

 

 

 

 

 

 

 

 

US Job Growth Surges in June 2019

US Job Growth Surges in June

Nonfarm payrolls in the US increased by 224 thousand in June 2019, following a downwardly revised 72 thousand rise in May and beating market expectations of 160 thousand. Notable job gains occurred in professional and business services, in health care, and in transportation and warehousing. Non Farm Payrolls in the United States averaged 125.70 Thousand from 1939 until 2019, reaching an all time high of 1118 Thousand in September of 1983 and a record low of -1959 Thousand in September of 1945.

Professional and business services added 51,000 jobs in June, following little employment change in May (+24,000). Employment growth in the industry has averaged 35,000 per month in the first half of 2019, compared with an average monthly gain of 47,000 in 2018.

Employment in health care increased by 35,000 over the month and by 403,000 over the past 12 months. In June, job growth occurred in ambulatory health care services (+19,000) and hospitals (+11,000).

Transportation and warehousing added 24,000 jobs over the month and 158,000 over the past 12 months. In June, job gains occurred among couriers and messengers (+7,000) and in air transportation (+3,000).

Construction employment continued to trend up in June (+21,000), in line with its average monthly gain over the prior 12 months.

Manufacturing employment edged up in June (+17,000), following 4 months of little change. So far this year, job growth in the industry has averaged 8,000 per month, compared with an average of 22,000 per month in 2018. In June, employment rose in computer and electronic products (+7,000) and in plastics and rubber products (+4,000).

Employment in other major industries, including mining, wholesale trade, retail trade, information, financial activities, leisure and hospitality, and government, showed little change over the month.

In June, average hourly earnings for all employees on private nonfarm payrolls rose by 6 cents to $27.90, following a 9-cent gain in May. Over the past 12 months, average hourly earnings have increased by 3.1 percent. Average hourly earnings of private-sector production and nonsupervisory employees increased by 4 cents to $23.43 in June.

The average workweek for all employees on private nonfarm payrolls was unchanged at 34.4 hours in June. In manufacturing, the average workweek edged up 0.1 hour to 40.7 hours, while overtime was unchanged at 3.4 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls held at 33.6 hours.

Calendar GMT Actual Previous Consensus TEForecast
2019-04-05 12:30 PM Non Farm Payrolls 196K 33K 180K 178K
2019-05-03 12:30 PM Non Farm Payrolls 263K 189K 185K 178K
2019-06-07 12:30 PM Non Farm Payrolls 75K 224K 185K 190K
2019-07-05 12:30 PM Non Farm Payrolls 224K 72K 160K 171K
2019-08-02 12:30 PM Non Farm Payrolls 224K 160K
2019-09-06 12:30 PM Non Farm Payrolls 200K
2019-10-04 12:30 PM Non Farm Payrolls 179K

 

https://tradingeconomics.com/united-states/non-farm-payrolls

United States May 2019 Exports

United States Exports

Exports from the US increased USD 4.2 billion from a month earlier, or 2.0 percent to USD 210.6 billion in May of 2019. Goods exports rose USD 3.9 billion to USD 140.8 billion, mainly due to capital goods (up USD 1.4 billion), namely civilian aircraft and telecommunications equipment; consumer goods (up USD 0.8 billion), particularly gem diamonds, jewelry and pharmaceutical preparations; soybeans (up USD 0.7 billion); other goods (up USD 0.6 billion) and automotive vehicles, parts, and engines (up USD 0.6 billion). Exports of services increased USD 0.3 billion to USD 69.8 billion, of which maintenance and repair services, travel (for all purposes including education) and transport all up USD 0.1 billion. Exports in the United States averaged 56278.95 USD Million from 1950 until 2019, reaching an all time high of 213341 USD Million in May of 2018 and a record low of 772 USD Million in March of 1950.

United States Exports

The United States is the world’s third biggest exporter, yet exports account only for 13 percent of GDP. Main exports are: capital goods (22 percent of total exports) and industrial supplies (22 percent). Others include: consumer goods (8 percent) and petroleum (7 percent). In 2018, exports of petroleum reached a record high of USD 172.4 billion. In 2018, main exports partners were: Canada (18 percent of total exports), Mexico (16 percent), China (7 percent), Japan (4.5 percent), the United Kingdom (4 percent) and Germany (3.5 percent). This page provides the latest reported value for – United States Exports – plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Exports – actual data, historical chart and calendar of releases – was last updated on July of 2019.

 

Calendar GMT Actual Previous Consensus TEForecast
2019-04-17 12:30 PM Exports $209.7B $207.4B $205.1B
2019-05-09 12:30 PM Exports $211.97B $209.91B $211.2B
2019-06-06 12:30 PM Exports $206.85B $211.41B $207.8B
2019-07-03 12:30 PM Exports $210.636B $206.411B $210.8B
2019-08-02 12:30 PM Exports $210.636B $ 213B
2019-09-04 12:30 PM Exports
2019-10-04 12:30 PM Exports

https://tradingeconomics.com/united-states/exports

 

US Q1 GDP Growth Confirmed at 3.1%

US Q1 GDP Growth Confirmed at 3.1%

The US economy grew by an annualized 3.1 percent in the first quarter of 2019, unrevised from the second estimate issued last month and following a 2.2 percent expansion in the previous three-month period. Upward revisions to nonresidential fixed investment, exports, state and local government spending, and residential fixed investment were offset by downward revisions to personal consumption expenditures (PCE) and inventory investment and an upward revision to imports. GDP Growth Rate in the United States averaged 3.22 percent from 1947 until 2019, reaching an all time high of 16.70 percent in the first quarter of 1950 and a record low of -10 percent in the first quarter of 1958.

The US economy grew by an annualized 3.1 percent in the first quarter of 2019, unrevised from the second estimate and following a 2.2 percent expansion in the previous three-month period. Nonresidential and residential fixed investment, exports and imports, and state and local government spending were revised higher while personal consumption expenditures and inventory investment came in lower than initially reported.

Positive contributions came from exports (0.65 percentage points), personal consumption expenditures (0.62 percentage points), nonresidential fixed investment (0.61 percentage points), private inventory investment (0.55 percentage points), and state and local government spending (0.48 percentage points). Imports, which are a subtraction in the calculation of GDP, decreased, posting a positive contribution of 0.30 percentage points. These contributions were partly offset by a decreasein residential fixed investment (-0.08 percentage points).

State and local government spending surged 4.6 percent during the first quarter, reversing a 1.3 percent contraction in the previous three-month period. In addition, private inventory investment accelerated and exports jumped 5.4 percent (vs 1.8 percent in Q4), boosted by sales of goods (6.0 percent vs 1.2 percent) and services (4.4 percent vs 2.7 percent); while imports dropped 1.9 percent (vs 2.0 percent in Q4) due to lower purchases of goods (-3.3 percent vs 0.5 percent).

These movements were partly offset by a deceleration in PCE (0.9 percent vs 2.5 percent).

The price index for gross domestic purchases increased 0.8 percent in the first quarter, compared with an increase of 1.7 percent in the fourth quarter. The PCE price index increased 0.5 percent, compared with an increase of 1.5 percent. Excluding food and energy prices, the PCE price index increased 1.2 percent, compared with an increase of 1.8 percent.

 

https://tradingeconomics.com/united-states/gdp-growth

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