All Paper Economy
- Service industry picks up, but experts remain uncertain about future
Service-related business activity expanded in May, climbing from an index of 53.1 the month prior to 53.7. While some industry leaders said they saw improved business, others said they are not optimistic the market is recovering.
- Private employers added 135,000 jobs in May
Private employers added 135,000 jobs to the economy last month, leaving the total employment level 1.62 percent higher than what it was in May 2012.
- Applications for refinancing sink as mortgage rates jump up
The average rate for a 30-year fixed rate mortgage jumped up 16 basis points to 3.91 percent last week while the volume of applications for refinancing sunk 15 percent in the same period.
Report: manufacturing slumped in MayManufacturing activity slumped in May, according to a report from the Institute for Supply Management. The purchasing manager's composite index (PMI) declined 3.35 percent from April.
Spending on private residential construction declinesSpending on private residential construction went down 0.11 percent between March and April, according to a US Census Bureau report released Monday.
Jobless claims jump to 354,000Jobless claims increased by 10,000 to 354,000 claims from 344,000 claims according to Thursday's jobless claims report.
MBA: Mortgage rates jump to 3.76 percentMortgage rates jumped 11 basis points to 3.76 percent since last week, according to the latest mortgage rates data from the Mortgage Bankers Association.
Existing home sales rise in AprilExisting home sales rose 0.6 percent in April and climbed 9.7 percent above the level seen a year ago, according to the National Association of Realtors' Existing Homes Sales Report.
MBA: Mortgage rates jump as applications fallMortgage rates jumped 11 basis points to 3.65 percent since last week, according to the latest mortgage rates data from the Mortgage Bankers Association. The purchase application volume declined 3 percent over the same period.
Jobless claims jump by 32,000Jobless claims increased by 32,000 to 360,000 from 328,000 claims for the prior week, according to the latest jobless claims report.
Food stamp use declines in FebruaryFood stamp use was down in February, according to the latest food stamps data released by the Department of Agriculture. A notable 213,962 individual recipients were removed from the food stamps program.
MBA: Mortgage rates flat at 3.47 percentMortgage rates went flat at 3.47 percent since last week, according to the latest mortgage rates data from the Mortgage Bankers Association (MBA).
Manufacturing activity declines in AprilManufacturing activity declined in April, according to the Institute for Supply Management's latest Report on Business for the manufacturing sector.
ADP: Private staffers add 119,000 jobs in AprilThe latest ADP report shows that private employment in the US improved in April as private employers added 119,000 jobs. Total employment was 1.57 percent above the level seen in April 2012, according to ADP.
Case-Shiller: Home prices surge in FebruaryCase-Shiller home price indices for February reported that home prices rose 0.37 percent since January.
Pending home sales climb 1.5 percent in MarchPending home sales rose 1.5 percent in March, increasing 7 percent above the level seen a year ago, according to the latest pending home sales data from the National Association of Realtors.
GDP shows 2.5 percent growth in Q1GDP grew 2.5 percent in Q1 2013, according to the latest GDP report from the Bureau of Economic Analysis. The latest quarterly results indicate that the most notable source of weakness in the economy came from declines in government spending.
Jobless claims decline by 16,000Jobless claims declined by 16,000 to 339,000 claims, according to Thursday's jobless claims report. Currently there are some 1.79 million people receiving federal “extended” unemployment benefits.
Home sales fall 0.6 percent in MarchHome sales declined 0.6 percent in March according to the National Association of Realtors' Existing Home Sales report.
Jobless claims rise by 4,000Jobless claims increased by 4,000 to 352,000 claims from 348,000 claims for the prior week, according to Thursday's jobless claims report.
