Construction Spending Growth - October 2018


ECONODAY: Construction has been a soft spot of the economy evident once again in October where spending fell 0.1 percent for the third straight decline and the fourth decline in five months. Spending on new single-family homes in October fell 0.5 percent with home-improvement spending down 0.9 percent, both offsetting a strong 1.0 percent rise in multi-family homes. Private nonresidential construction fell 0.3 percent in October with declines in power, manufacturing, transportation and commercial components offsetting another strong gain for office building...

Revolving Credit Growth - September 2018


ECONODAY: Consumer credit growth slowed more than expected to just $10.9 billion in September, below Econoday's consensus range and less than half of the upwardly revised $22.9 billion August increase. Growth slowed in nonrevolving credit, which rose $11.2 billion in September versus $18.3 billion previously, while growth in revolving credit stalled completely and posted a marginal decline of $0.3 billion. Gains in nonrevolving credit reflect vehicle financing and student loans while gains in revolving credit reflect credit-card debt. Today's report shows that despite strong employment, consumers were cautious in September after splurging a little in August and chose to pay down some of their credit card debt instead. While it may be a plus for household wealth, the thriftiness exhibited is not a plus for consumer spending and the GDP...


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Manufacturers New Orders - November 2018


ECONODAY: A drop for primary metals, a sharp drop for machinery, and a reversal for defense aircraft all pulled down durable goods orders in October which fell a sharper-than-expected 4.4 percent. A very sharp downward revision to September, revised from a 0.8 percent gain to a 0.1 percent decline, is another unfavorable headline in today's report. Orders for primary metals, down 2.3 and 1.2 percent the past two reports, continue to weaken following tariff-related pre-buying earlier in the year, while orders for machinery -- which are at the center of the capital-goods group -- fell 0.5 percent in October following lifeless gains of 0.1 and 0.2 percent in September and August...

Personal Consumption Expenditures - September 2018


ECONODAY: Consumers had to slow their savings efforts to fund spending in the month as the savings rate fell 2 tenths to 6.2 percent. But spending was solid, at 0.4 percent in September with August revised 2 tenths higher to 0.5 percent. Spending on durables, reflecting strong vehicle sales that may have gotten a lift on replacement demand from Hurricane Florence, jumped 1.4 percent in the month with spending on nondurables and services both at 0.3 percent...

Vehicle Sales - July 2018


In a recovery built on student and car loans, a decline in total vehicle sales is a very bad sign...