Recent Market Metrics

Current

Mortgage Application Volume

rose

1.3% for the week ending Jun 21

1.3%

-3.4%

more details

WASHINGTON, D.C. (June 26, 2019) - Mortgage applications increased 1.3 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending June 21, 2019.

The Market Composite Index, a measure of mortgage loan application volume, increased 1.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 1 percent compared with the previous week. The Refinance Index increased 3 percent from the previous week. The seasonally adjusted Purchase Index decreased 1 percent from one week earlier. The unadjusted Purchase Index decreased 2 percent compared with the previous week and was 9 percent higher than the same week one year ago.

"Markets last week reacted to a more dovish FOMC statement and forecast, with Treasury yields falling after the meeting. Mortgage rates dropped again for most loan types, which led to an increase in refinance activity, partly driven by a 9 percent jump in VA applications," said Jl Kan, MBA's Associate Vice President of Economic and Industry Forecasting. "The 30-year fixed rate has now dropped in three of the last four weeks, and at 4.06 percent, reached its lowest level since September 2017. Despite these lower rates, purchase applications decreased 2 percent, but were still considerably higher (9 percent) than a year ago."

Added Kan, "Now at almost the half-way mark of 2019, we have generally seen a stronger purchase market than last year, despite still-tight existing inventory and insufficient new construction."

The refinance share of mortgage activity increased to 51.5 percent of total applications from 50.2 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 6.5 percent of total applications.

The FHA share of total applications increased to 9.6 percent from 9.4 percent the week prior. The VA share of total applications increased to 12.5 percent from 11.9 percent the week prior. The USDA share of total applications increased to 0.6 percent from 0.5 percent the week prior.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($484,350 or less) decreased to 4.06 percent from 4.14 percent, with points decreasing to 0.35 from 0.38 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $484,350) decreased to 4.00 percent from 4.04 percent, with points remaining unchanged at 0.24 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 4.01 percent from 4.12 percent, with points decreasing to 0.36 from 0.44 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The average contract interest rate for 15-year fixed-rate mortgages decreased to 3.40 percent from 3.50 percent, with points decreasing to 0.31 from 0.33 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The average contract interest rate for 5/1 ARMs increased to 3.50 percent from 3.45 percent, with points increasing to 0.29 from 0.23 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

If you would like to purchase a subscription of MBA's Weekly Applications Survey, please visit www.mba.org/WeeklyApps, contact mbaresearch@mba.org or click here.

The survey covers over 75 percent of all U.S. retail residential mortgage applications, and has been conducted weekly since 1990. Respondents include mortgage bankers, commercial banks and thrifts. Base period and value for all indexes is March 16, 1990=100.

26-Jun-19 10:00 AM ET - MBA

Next: 03-Jul-19

Durable Goods Total New Orders

fell

1.3% in May

-1.3%

-2.8%

more details

Full Report:
Data Inquiries Media Inquiries Economic Indicators Division, Shipments, Inventories, and Orders Branch (M3) Public Information Office 301-763-4832 301-763-3030 eid.m3.qs@census.gov pio@census.gov FOR RELEASE AT 8:30 AM EDT, FRIDAY, MAY 24, 2019 MONTHLY ADVANCE REPORT ON MANUFACTURERS' SHIPMENTS, INVENTORIES AND ORDERS APRIL 2019 Release Number: CB 19-70 M3-1 (19)-04 May 24, 2019 The U.S. Census Bureau announces the April advance report on manufacturers' shipments, inventories and orders: New Orders New orders for manufactured durable goods in April decreased $5.4 billion or 2.1 percent to $248.4 billion, the U.S. Census Bureau announced today. This decrease, down two of the last three months, followed a 1.7 percent March increase. Excluding transportation, new orders were virtually unchanged. Excluding defense, new orders decreased 2.5 percent. Transportation equipment, also down two of the last three months, drove the decrease, $5.4 billion or 5.9 percent to $85.4 billion. Shipments Shipments of manufactured durable goods in April, down three of the last four months, decreased $4.0 billion or 1.6 percent to $253.3 billion. This followed a 0.5 percent March decrease. Transportation equipment, down four consecutive months, led the decrease, $3.7 billion or 4.1 percent to $85.8 billion. Unfilled Orders Unfilled orders for manufactured durable goods in April, down two of the last three months, decreased $0.7 billion or 0.1 percent to $1,179.1 billion. This followed a 0.1 percent March increase. Transportation DURABLE GOODS NEW ORDERS APRIL 2019 $248.4 billion -2.1%° MARCH 2019 (revised) $253.8 billion +1.7%° Next release: June 26, 2019 Data adjusted for seasonal variation but not for price changes. °Statistical significance is not measurable for this survey. The Manufacturers' Shipments, Inventories, and Orders estimates are not based on a probability sample, so the sampling error of these estimates cannot be measured nor can the confidence intervals be computed. Source: U.S. Census Bureau, Manufacturers' Shipments, Inventories and Orders, May 24, 2019. May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 % Change 0.8% -0.1% -0.9% 4.2% 1.5% -4.4% 0.6% 1.1% 0.5% -2.6% 1.7% -2.1%-8.0%-7.0%-6.0%-5.0%-4.0%-3.0%-2.0%-1.0%0.0%1.0%2.0%3.0%4.0%5.0%6.0%7.0%8.0% DURABLE GOODS NEW ORDERS 2018-2019Seasonally Adjusted, Month-To-Month Percentage Change Source: U.S. Census Bureau, Manufacturers' Shipments, Inventories, and Orders, May 24, 2019.

26-Jun-19 9:22 AM ET - USCB

Next: 03-Jul-19

Capital Goods Core Capex

rose

0.4% in May

0.4%

-1.0%

more details

26-Jun-19 9:22 AM ET - USCB

Next: 03-Jul-19

New Home Sales

fell

7.8% in May, to 626,000/yr

626,000

679,000

more details

Data Inquiries Media Inquiries Economic Indicators Division, Residential Construction Branch ublic Information Office 301-763-5160 301-763-3030 eid.rcb.customer.service@census.gov pio@census.gov FOR RELEASE AT 10:00 AM EDT, THURSDAY, MAY 23, 2019 MONTHLY NEW RESIDENTIAL SALES, APRIL 2019 Release Number: CB19-68 May 23, 2019 - The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for April 2019: NEW RESIDENTIAL SALES APRIL 2019 New Houses Sold 1 : New Houses For Sale 2 : Median Sales Price: Next Release: June 25, 2019 1 Seasonally Adjusted Annual Rates 2 Seasonally Adjusted Source: U.S. Census Bureau, HUD, May 23, 2019 New Home Sales Sales of new single-family houses in April 2019 were at a seasonally adjusted annual rate of 673,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 6.9 percent (±14.0 percent)* below the revised March rate of 723,000, but is 7.0 percent (±12.4 percent)* above the April 2018 estimate of 629,000. Sales Price The median sales price of new houses sold in April 2019 was $342,200. The average sales price was $393,700. For Sale Inventory and Months' Supply The seasonally-adjusted estimate of new houses for sale at the end of April was 332,000. This represents a supply of 5.9 months at the current sales rate. The May report is scheduled for release on June 25, 2019. View the full schedule in the Economic Briefing Room: . The full text and tables for this release can be found at . 0200400600800Apr-14Apr-16Apr-18 Thousands of Units New Residential Sales (Seasonally Adjusted Annual Rate) Houses Sold Source: U.S. Census Bureau, HUD, May 23, 2019 With this release, seasonally adjusted estimates of housing units sold, housing units for sale, and the months' supply of new housing have been revised back to January 2014. All revised estimates are available on our website.

25-Jun-19 10:04 AM ET - USCB

Next: 24-Jul-19

Case-Shiller 20-City Home Price Index

rose

2.5% in Apr vs. previous year, to 215.68

2.5%

2.7%

more details

The S&P/Case-Shiller Home Price Indices are the leading measures for the US residential housing market, tracking changes in the value of residential real estate both nationally as well as in 20 metropolitan regions.

25-Jun-19 9:13 AM ET - Standard & Poor's

Next: 30-Jul-19

Existing Home Sales

rose

2.9% in May, to 5,340,000/yr

5,340,000

5,190,000

more details

Total existing-home sales, https://www.nar.realtor/existing-home-sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, jumped 2.5% from April to a seasonally adjusted annual rate of 5.34 million in May. Total sales, however, are down 1.1% from a year ago (5.40 million in May 2018).

21-Jun-19 10:22 AM ET - National Association of Realtors

Next: 23-Jul-19

Home Sales Inventory

rose

2.4% in May, to 4.3 months, to the highest level in 7 mos

4.3

4.2

more details

Total housing inventory at the end of May increased to 1.92 million, up from 1.83 million existing homes available for sale in April and a 2.7% increase from 1.87 million a year ago. Unsold inventory is at a 4.3-month supply at the current sales pace, up from both the 4.2 month supply in April and from 4.2 months in May 2018.

21-Jun-19 10:22 AM ET - National Association of Realtors

Next: 23-Jul-19

30-Yr Fixed Mortgage Rate

rose

to 3.84% on Jun 20, up from 3.82% on Jun 13

3.84%

3.82%

more details

30-year fixed-rate mortgage (FRM) averaged 3.84 percent with an average 0.5 point for the week ending June 20, 2019, up from last week when it averaged 3.82 percent. A year ago at this time, the 30-year FRM averaged 4.57 percent.
15-year FRM averaged 3.25 percent with an average 0.4 point, down from last week when it averaged 3.26 percent. A year ago at this time, the 15-year FRM averaged 4.04 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.48 percent with an average 0.4 point, down from last week when it averaged 3.51 percent. A year ago at this time, the 5-year ARM averaged 3.83 percent.

20-Jun-19 10:15 AM ET - Freddie Mac

Next: 27-Jun-19

15-Yr Fixed Mortgage Rate

fell

to 3.25% on Jun 20, down from 3.26% on Jun 13 & the lowest in 19 mos

3.25%

3.26%

more details

30-year fixed-rate mortgage (FRM) averaged 3.84 percent with an average 0.5 point for the week ending June 20, 2019, up from last week when it averaged 3.82 percent. A year ago at this time, the 30-year FRM averaged 4.57 percent.
15-year FRM averaged 3.25 percent with an average 0.4 point, down from last week when it averaged 3.26 percent. A year ago at this time, the 15-year FRM averaged 4.04 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.48 percent with an average 0.4 point, down from last week when it averaged 3.51 percent. A year ago at this time, the 5-year ARM averaged 3.83 percent.

20-Jun-19 10:15 AM ET - Freddie Mac

Next: 27-Jun-19

5-Yr ARM

fell

to 3.48% on Jun 20, down from 3.51% on Jun 13 & the lowest in 17 mos

3.48%

3.51%

more details

30-year fixed-rate mortgage (FRM) averaged 3.84 percent with an average 0.5 point for the week ending June 20, 2019, up from last week when it averaged 3.82 percent. A year ago at this time, the 30-year FRM averaged 4.57 percent.
15-year FRM averaged 3.25 percent with an average 0.4 point, down from last week when it averaged 3.26 percent. A year ago at this time, the 15-year FRM averaged 4.04 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.48 percent with an average 0.4 point, down from last week when it averaged 3.51 percent. A year ago at this time, the 5-year ARM averaged 3.83 percent.

20-Jun-19 10:15 AM ET - Freddie Mac

Next: 27-Jun-19

Initial Unemployment Claims

fell

2.7% for the week ending Jun 15, to 216,000

216,000

222,000

more details

In the week ending June 15, the advance figure for seasonally adjusted initial claims was 216,000, a decrease of 6,000

from the previous week's unrevised level of 222,000. The 4-week moving average was 218,750, an increase of 1,000

from the previous week's unrevised average of 217,750.

20-Jun-19 8:45 AM ET - US Dept of Labor

Next: 27-Jun-19

Canada Inflation

rose

to 2.3% in May, up from 2.1% in Apr & the highest in 7 mos

2.3%

2.1%

more details

n April, 438,300 people received regular Employment Insurance (EI) benefits, little changed from March.

The number of beneficiaries decreased in seven provinces, most notably in Saskatchewan (-2.9%), Alberta (-2.8%) and Manitoba (-2.6%). In contrast, there were increases in Nova Scotia (+4.2%) and New Brunswick (+1.1%), while there was little change in Quebec.

20-Jun-19 8:35 AM ET - Statistics Canada

Next: 11-Jul-19

UK Producer/Wholesale Price Inflation

fell

to 1.8% in May, down from 2.1% in Apr & the lowest since Sep 2016

1.8%

2.1%

more details

The headline rate of output inflation for goods leaving the factory gate was 1.8% on the year to May 2019, down from 2.1% in April 2019.
The growth rate of prices for materials and fuels used in the manufacturing process was 1.3% on the year to May 2019, down from 4.5% in April 2019.
Petroleum provided the largest downward contribution to the change in the annual rate of output inflation.
The annual rate of input inflation fell 3.2 percentage points in May 2019, driven by a large downward contribution to the change in the rate from crude oil.

20-Jun-19 6:42 AM ET - UK Office of National Statistics

Next: 17-Jul-19

UK Inflation

fell

to 1.9% in May, down from 2.0% in Apr

1.9%

2.0%

more details

The Consumer Prices Index including owner occupiers housing costs (CPIH) 12-month inflation rate was 1.9% in May 2019, down from 2.0% in April 2019.
Falling fares for transport services, particularly air fares influenced by the timing of Easter in April, and falling car prices produced the largest downward contributions to the change in the rate between April and May 2019.
Partially offsetting upward contributions came from rising prices for a range of games, toys and hobbies, furniture and furnishings, and accommodation services.
The Consumer Prices Index (CPI) 12-month rate was 2.0% in May 2019, down from 2.1% in April 2019.

20-Jun-19 6:42 AM ET - UK Office of National Statistics

Next: 17-Jul-19

Housing Starts

rose

2.8% in May, to 1,269,000/yr

1,269,000

1,235,000

more details

Privately-owned housing starts in May 2019 were at a seasonally adjusted annual rate of 1,269,000. This is 0.9 percent (+/- 12.9%)* below the revised April 2019 estimate of 1,281,000.

May 2019: -0.9* % change
April 2019 (r): +6.8* % change

18-Jun-19 1:13 PM ET - USCB

Next: 17-Jul-19

EU Inflation (HICP)

fell

to 1.2% in May, down from 1.7% in Apr & the lowest in 13 mos

1.2%

1.7%

more details

The Harmonised Index of Consumer Prices (HICP) is an indicator of inflation and price stability for the European Central Bank (ECB).

18-Jun-19 7:36 AM ET - Eurostat

Next: 17-Jul-19

US Retail Sales

rose

0.5% in May, to $519.0 Billion

0.5%

-0.2%

more details

U.S. retail and food services sales for May 2019 were $519.0 billion, an increase of 0.5 percent (+/-0.5%)* from the previous month.

May 2019: +0.5* % change
April 2019 (r): +0.3 % change

14-Jun-19 8:46 AM ET - USCB

Next: 16-Jul-19

US Treasury reported a

deficit

of $208 Billion in May

-$208

$160

more details

The US Treasury publishes the Monthly Treasury Statement (MTS) at 2:00 PM on the 8th business day of each month.

The MTS summarizes the financial activities of the federal government and off-budget federal entities in accordance with the Budget of the U.S. Government, inlcuding:

Receipts and outlays
Surplus or deficit
Means of financing on a modified cash basis

Data provided by federal entities, disbursing officers, and Federal Reserve Banks.

12-Jun-19 3:08 PM ET - US Department of the Treasury

Next: 11-Jul-19

Overall US Inflation

rose

0.1% in May

0.1%

0.3%

more details

The Consumer Price Index (CPI) is a measure of the average change in prices over time of goods and services purchased by households. The Bureau of Labor Statistics publishes CPIs for two population groups:

(1) the CPI for Urban Wage Earners and Clerical Workers (CPI-W),which covers households of wage earners and clerical workers that comprise approximately 29 percent of the total population and

12-Jun-19 8:37 AM ET - U.S. Bureau of Labor Statistics

Next: 11-Jul-19

Core US Inflation

rose

0.1% in May

0.1%

more details

(1) the CPI for Urban Wage Earners and Clerical Workers (CPI-W),which covers households of wage earners and clerical workers that comprise approximately 29 percent of the total population and

12-Jun-19 8:37 AM ET - U.S. Bureau of Labor Statistics

Next: 11-Jul-19

US Producer/Wholesale Price Index

rose

0.1% in May

0.1%

0.2%

more details

The Producer Price Index (PPI) of the Bureau of Labor Statistics (BLS) is a family of indexes that measure the average change over time in the prices received by domestic producers of goods and services. PPIs measure price change from the perspective of the seller. This contrasts with other measures, such as the Consumer Price Index (CPI). CPIs measure price change from the purchaser's perspective. Sellers' and purchasers' prices can differ due to government subsidies, sales and excise taxes, and distribution costs.

11-Jun-19 8:34 AM ET - U.S. Bureau of Labor Statistics

Next: 12-Jul-19

UK Unemployment Rate

remained at

3.8% in Apr

3.8%

more details

11-Jun-19 7:45 AM ET - UK Office of National Statistics

Next: 16-Jul-19

UK GDP

grew

0.3% in the 3 months to Apr

0.3%

0.5%

more details

The UK Office for National Statistics publishes Preliminary Estimates of GDP approximately one month after the end of a given quarter, followed by Second Estimates a month later and the Final Estimates a month after that.

10-Jun-19 3:04 PM ET - UK Office of National Statistics

Next: 10-Jul-19

Canada Unemployment Rate

fell

to 5.4% in May, down from 5.7% in Apr

5.4%

5.7%

more details

The Canadian unemployment rate is reported monthly by Statistics Canada.

07-Jun-19 10:51 AM ET - Statistics Canada

Next: 01-Jul-19

US Unemployment Rate

remained at

3.6% in May

3.6%

more details

Total nonfarm payroll employment edged up in May (+75,000), and theunemployment rate remained at 3.6 percent, the U.S. Bureau of LaborStatistics reported today. Employment continued to trend up inprofessional and business services and in health care.

This news release presents statistics from two monthly surveys. Thehousehold survey measures labor force status, including unemployment,by demographic characteristics. The establishment survey measuresnonfarm employment, hours, and earnings by industry. For moreinformation about the concepts and statistical methodology used inthese two surveys, see the Technical Note.

Household Survey Data

The unemployment rate remained at 3.6 percent in May, and the numberof unemployed persons was little changed at 5.9 million. (See tableA-1.)

07-Jun-19 10:49 AM ET - U.S. Bureau of Labor Statistics

Next: 05-Jul-19

US NonFarm Payroll

rose

75,000 in May

75,000

224,000

more details

07-Jun-19 10:49 AM ET - U.S. Bureau of Labor Statistics

Next: 05-Jul-19

Canada GDP

grew

at an annualized rate of 1.4% in Mar

1.4%

1.1%

more details

Second Estimate:
Canadian GDP is reported monthly by Statistics Canada. The annual growth rate is the percentage change of current-month GDP at basic prices from the same month one year ago.

06-Jun-19 8:37 AM ET - Statistics Canada

Next: 31-Jul-19

US Productivity

increased

at an annualized rate of 3.4% in Q1, revised from 3.6%, the most since Sep 2014

3.4%

1.9%

more details

Revised:
First Quarter 2019, Revised Nonfarm business sector labor productivity increased 3.4 percent in the first quarter of 2019, the U.S. Bureau of Labor Statistics reported today, as output increased 3.9 percent and hours worked increased 0.5 percent. (All quarterly percent changes in this release are seasonally adjusted annual rates.) From the first quarter of 2018 to the first quarter of 2019, productivity increased 2.4 percent, reflecting a 3.9-percent increase in output and a 1.5-percent increase in hours worked. (See table A1.) The four-quarter increase in productivity is the largest since a 2.7-percent gain in the third quarter of 2010.

Labor productivity, or output per hour, is calculated by dividing an index of real output by an index of hours worked by all persons, including employees, proprietors, and unpaid family workers.

06-Jun-19 8:34 AM ET - U.S. Bureau of Labor Statistics

Next: 15-Aug-19

EU GDP

grew

at an annualized rate of 2.8% in Q1

2.8%

2.7%

more details

Second Estimate:
European Union gross domestic product (GDP) is published by the Europan Central Bank at market prices. It is a measure of the economic activity, defined as the value of all goods and services produced less the value of any goods or services used in their creation. The calculation of the annual growth rate of GDP volume is intended to allow comparisons of the dynamics of economic development both over time and between economies of different sizes.

06-Jun-19 7:53 AM ET - ECB

Next: 31-Jul-19

ADP NonFarm Payroll

rose

27,000 in Jun, the least since Feb 2010

27,000

271,000

more details

Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by the ADP Research Institute in collaboration with Moody's Analytics. The report, which is derived from ADP's actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis.

05-Jun-19 8:21 AM ET - ADP

Next: 03-Jul-19

EU Unemployment Rate

fell

to 7.6% in Apr, down from 7.7% in Mar & the lowest since Sep 2008

7.6%

7.7%

more details

The euro area (EA17) unemployment rate is published at the end of each month by Eurostat, the statistical office of the European Union. It is a seasonally-adjusted rate.

04-Jun-19 7:46 AM ET - Eurostat

Next: 01-Jul-19

US Construction Spending

was flat

in Apr, at $1298.6 Billion/yr

0.0%

-0.9%

more details

The Value of Construction Put in Place Survey provides monthly estimates of the total dollar value of construction work done in the U.S. The United States Code, Title 13, authorizes this program. The survey covers construction work done each month on new structures or improvements to existing structures for private and public sectors. Data estimates include the cost of labor and materials, cost of architectural and engineering work, overhead costs, interest and taxes paid during construction, and contractor's profits. Data collection and estimation activities begin on the first day after the reference month and continue for about three weeks. Reported data and estimates are for activity taking place during the previous calendar month. The survey has been conducted monthly since 1964.

03-Jun-19 2:58 PM ET - USCB

Next: 01-Jul-19

ISM Manufacturing Index

fell

to 52.1% in May, down from 52.8% in Apr & the lowest level since Oct 2016

52.1%

52.8%

more details

(Tempe, Arizona) — Economic activity in the manufacturing sector expanded in May, and the overall economy grew for the 121st consecutive month, say the nation’s supply executives in the latest Manufacturing ISM^® Report On Business^®.

The report was issued today by Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management^® (ISM^®) Manufacturing Business Survey Committee: “The May PMI^® registered 52.1 percent, a decrease of 0.7 percentage point from the April reading of 52.8 percent. The New Orders Index registered 52.7 percent, an increase of 1 percentage point from the April reading of 51.7 percent. The Production Index registered 51.3 percent, a 1-percentage point decrease compared to the April reading of 52.3 percent. The Employment Index registered 53.7 percent, an increase of 1.3 percentage points from the April reading of 52.4 percent. The Supplier Deliveries Index registered 52 percent, a 2.6-percentage point decrease from the April reading of 54.6 percent. The Inventories Index registered 50.9 percent, a decrease of 2 percentage points from the April reading of 52.9 percent. The Prices Index registered 53.2 percent, a 3.2-percentage point increase from the April reading of 50 percent.

“Comments from the panel reflect continued expanding business strength, but at soft levels consistent with the early-2016 expansion. Demand expansion continued, with the New Orders Index strengthening, but remaining in the low 50s, the Customers’ Inventories Index remaining at a ‘too low’ level, and the Backlog of Orders Index contracting for the first time since January 2017. Consumption (production and employment) continued to expand, resulting in a combined PMI^® contribution of 0.3 percentage point. Inputs — expressed as supplier deliveries, inventories and imports — were lower this month, primarily due to inventory softening and supplier’s continuing to deliver faster, resulting in a combined 4.6-percentage point reduction in the Supplier Deliveries and Inventories indexes. Imports contracted for the second straight month. Overall, inputs reflect supply chains’ ability to respond faster and indicate that supply managers are closely watching inventories. Prices remain at a relatively stable level.

“Respondents expressed concern with the escalation in the U.S.-China trade standoff, but overall sentiment remained predominantly positive. The PMI^® continues to reflect slowing expansion,” says Fiore.

Of the 18 manufacturing industries, 11 reported growth in May, in the following order: Printing & Related Support Activities; Furniture & Related Products; Plastics & Rubber Products; Textile Mills; Miscellaneous Manufacturing; Electrical Equipment, Appliances & Components; Computer & Electronic Products; Chemical Products; Food, Beverage & Tobacco Products; Nonmetallic Mineral Products; and Machinery. The six industries reporting contraction in May — listed in order — are: Apparel, Leather & Allied Products; Primary Metals; Petroleum & Coal Products; Wood Products; Paper Products; and Fabricated Metal Products.

03-Jun-19 10:14 AM ET - Institute of Supply Management

Next: 01-Jul-19

US Consumer Confidence

rose

to 100.0 in May, up from 97.2 in Apr & the highest level in 8 mos

100.0

97.2

more details

Final:
U.S. consumer sentiment increased by less than initially reported in May as an escalation of the trade war with China weighed on the outlook for the overall economy, paring gains that previously showed a 15-year high.

The University of Michigan's sentiment index rose to 100 from the prior month's 97.2, data showed Friday. That's still an eight-month high but below the 102.4 preliminary reading and the median analyst estimate for a final figure of 101.5. The gauge of current conditions decreased to 110 while the expectations index climbed to 93.5.

31-May-19 11:41 AM ET - Thompson Reuters U. Michigan

Next: 28-Jun-19

US Personal Income

rose

0.5% in Apr

0.5%

0.1%

more details

The US Bureau of Economic Analysis publishes seasonally adjusted data for Personal Income monthly.

31-May-19 11:40 AM ET - U.S. Bureau of Economic Analysis

Next: 28-Jun-19

US Personal Savings was 6.2% in Apr, up from 6.1% in Mar

6.2%

6.1%

more details

The US Bureau of Economic Analysis publishes seasonally adjusted data for Personal Saving monthly.

31-May-19 11:40 AM ET - U.S. Bureau of Economic Analysis

Next: 28-Jun-19

US Consumer Spending (PCE)

rose

0.3% in Apr, the most in 15 mos

0.3%

0.2%

more details

The US Bureau of Economic Analysis publishes seasonally adjusted data for Personal Consumption Expenditures monthly. A healthy Personal Spending figure means that consumers are buying goods and services, fueling the economy and spurring output growth. The report is particularly valued for forecasting inflationary pressures. Taken in excess these high levels of consumption and production may lead to an overall increase in prices. Indeed, the Fed uses a measure of inflation derived from the PCE as their primary gauge of inflation.

31-May-19 11:40 AM ET - U.S. Bureau of Economic Analysis

Next: 28-Jun-19

US Core Consumer Spending PCE

rose

0.2% in Apr

0.2%

0.1%

more details

31-May-19 11:40 AM ET - U.S. Bureau of Economic Analysis

Next: 28-Jun-19

US Disposable Income

rose

0.4% in Apr

0.4%

0.1%

more details

The US Bureau of Economic Analysis publishes seasonally adjusted data for Disposable Personal Income monthly.

31-May-19 11:40 AM ET - U.S. Bureau of Economic Analysis

Next: 28-Jun-19

US Corporate Profits

rose

1.6% in Q1 (vs. Q1 2018), to $1.93 Trillion/yr, to the lowest level in 12 mos

1.6%

11.1%

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Preliminary Estimate:
Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) decreased $65.4 billion in the first quarter, compared with a decrease of $9.7 billion in the fourth quarter.

Profits of domestic financial corporations increased $7.4 billion in the first quarter, in contrast to a decrease of $25.2 billion in the fourth quarter. Profits of domestic nonfinancial corporations decreased $62.1 billion, in contrast to an increase of $13.6 billion. Rest-of-the-world profits decreased $10.7 billion, in contrast to an increase of $1.9 billion. In the first quarter, receipts increased $4.0 billion, and payments increased $14.8 billion.

30-May-19 9:13 AM ET - U.S. Bureau of Economic Analysis

Next: 27-Jun-19

US Real GDP

grew

at an annualized rate of 3.1% in Q1, revised from 3.2%

3.1%

2.2%

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Second Estimate:
Real gross domestic product (GDP) increased at an annual rate of 3.1 percent in the first quarter of 2019 (table 1), according to the "second" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.2 percent.

The GDP estimate released today is based on more complete source data than were available for the "advance" estimate issued last month. In the advance estimate, the increase in real GDP in the first quarter was 3.2 percent. Today's estimate reflects downward revisions to nonresidential fixed investment and private inventory investment and upward revisions to exports and personal consumption expenditures (PCE). Imports, which are a subtraction in the calculation of GDP, were revised up; the general picture of economic growth remains the same (see "Updates to GDP" on page 2).

30-May-19 9:09 AM ET - U.S. Bureau of Economic Analysis

Next: 27-Jun-19

1-Yr ARM

remained at

2.68% on Dec 31

2.68%

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Mortgage Rates Top Four Percent

MCLEAN, VA--(Marketwired - Dec 31, 2015) - Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS^®), showing fixed mortgage rates moving higher with the 30-year fixed-rate mortgage breaking above four percent for the first time in five months.

News Facts

30-year fixed-rate mortgage (FRM) averaged 4.01 percent with an average 0.6 point for the week ending December 31, 2015, up from last week when it averaged 3.96 percent. A year ago at this time, the 30-year FRM averaged 3.87 percent.
15-year FRM this week averaged 3.24 percent with an average 0.6 point, up from 3.22 percent last week. A year ago at this time, the 15-year FRM averaged 3.15 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.08 percent this week with an average 0.4 point, up from last week when it averaged 3.06 percent. A year ago, the 5-year ARM averaged 3.01 percent.
1-year Treasury-indexed ARM averaged 2.68 percent this week with an average 0.2 point, unchanged from last week. At this time last year, the 1-year ARM averaged 2.40 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.

As of January 1, 2016, the PMMS will no longer provide results for the 1-year ARM. Additionally, the regional breakouts will not be provided for the 30-year and 15-year fixed rate mortgages, and the 5/1 Hybrid ARM.

Quote
Attributed to Sean Becketti, chief economist, Freddie Mac.

"In the final week of 2015, Treasury yields jumped reacting in part to strong consumer confidence in December. In response, the 30-year mortgage rate rose 5 basis points to 4.01 percent, ending a 5-month span below 4 percent. After averaging 3.9 percent in the fourth quarter of 2015, we expect the 30-year mortgage rate to average 4.7 percent for the fourth quarter of 2016."

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac's blog FreddieMac.com/blog.

31-Dec-15 10:48 AM ET - Freddie Mac

Next: 07-Jan-16