U.S. Economic News

U.S. Economic News

October 2, 2020

U.S. Economic Indicators

The U.S. economy gained 661,000 jobs in September, slightly below expectations. The unemployment rate declined 0.5 percentage points to 7.9% while the labor force participation rate fell 0.3 percentage points to 61.4%. BLS Report

The University of Michigan Consumer Sentiment Index rose 6.3 points to 80.4 in the final September reading but is down 12.8 points from September of last year. The Index of Consumer Expectations rose 7.1 points to 75.6, while the Current Economic Conditions Index increased 4.9 points to 87.8. University of Michigan

New factory orders for manufactured goods rose 0.7% in August following a 6.5% (revised) increase in July. New orders excluding transportation were up 0.7%, while new orders for nondefense capital goods excluding aircraft rose 1.9%. Census Bureau Report

U.S. Economic News

U.S. Economic News

October 1, 2020

U.S. Economic Indicators

Initial jobless claims decreased 36,000 to 837,000 last week. The four-week moving average fell 11,750 to 867,250. DOL Report

Real disposable personal income declined 3.5% in August, while real personal consumption expenditures (PCE) rose 0.7%. The PCE price index rose 0.3% (up 1.4% Y/Y), and the core price index rose 0.3% (up 1.6% Y/Y). BEA Report

The ISM Manufacturing Index fell 0.6 point to 55.4 in September. The Employment Index rose 3.2 points to 49.6, while the New Orders Index fell 7.4 points to 60.2. ISM Report

Construction spending rose 1.4% in August to an annualized rate of $1.41 trillion. Private construction rose 1.9% while public construction ticked up 0.1%. Census Bureau Report

U.S. Economic News

U.S. Economic News

September 30, 2020

U.S. Economic Indicators

The third and final estimate of Q2 GDP indicates that the U.S. economy contracted at an annualized rate of -31.4% in the second quarter, little changed from the prior estimate of -31.7%. For the third estimate, an upward revision to consumer spending was offset by downward revisions to exports and nonresidential fixed investment. BEA Report

The ADP Employment Report shows that private-sector employment increased by 749,000 jobs in September, somewhat above expectations. The services sector gained 552,000 jobs, while the goods-producing sector gained 196,000 jobs. ADP Report

The National Association of Realtors Pending Home Sales Index rose 8.8% to a record high in August (up 24.2% year-over-year). NAR reports that low mortgage rates have helped drive the historic rise in pending sales, though the increase may not necessarily translate into record high home sales as not all contracts lead to closings. NAR Report

Keybridge Releases Report on 2019 Progress toward the 2025 Beverage Calories Initiative National Calorie Goal

Keybridge Releases Report on 2019 Progress toward the 2025 Beverage Calories Initiative National Calorie Goal

September 28, 2020

In September 2014, the American Beverage Association, The Coca-Cola Company, Keurig Dr Pepper (formerly Dr Pepper Snapple Group), PepsiCo, and the Alliance for a Healthier Generation announced a commitment to reduce beverage calorie consumption per person by 20 percent by 2025 nationwide. This report features 2019 results, which demonstrate a 11.3-calorie decline in beverage calories per person per day since baseline. From 2018 to 2019, a 4.8-calorie (2.4%) decline was achieved, the strongest show of progress toward the national calorie goal since it was launched.

Link: 2025 Beverage Calories Initiative: Report on 2019 Progress

Link: Detailed Methodology

U.S. Economic News

U.S. Economic News

September 11, 2020

U.S. Economic Indicators

Consumer prices rose 0.4% in August (up 1.3% from a year ago). The “core” CPI, which excludes food and energy, rose 0.4% and is up 1.7% from last year. BLS Report

U.S. News

The Wall Street Journal reports that a second round of direct stimulus checks and extended unemployment aid before November is growing increasingly unlikely as bipartisan talks in Congress stall. After a slimmed-down stimulus bill was voted down in the Senate on Thursday, lawmakers will have another chance to negotiate an agreement when the House returns next week. WSJ

According to the Financial Times, companies raised $210 billion in corporate bond sales last month – a record-high for the month of August – in an effort to load up on debt before the November presidential election generates more volatility in financial markets. Record-low interest rates and Fed support have contributed to strong demand for new corporate issuances, though issuers worry that debt deals may become more difficult later this year if the presidential election is contentious or virus cases surge again in colder winter months. FT