Data on existing home sales were significantly above expectations with a seasonally-adjusted annual rate of 5.24 million sales registered according to the National Association of Realtors (NAR).  The NAR released a statement on the figures, an excerpt of which is below.
For the first time in five years, existing-home sales have increased for four months in [...]

Elga Bartsch writes that Morgan Stanley looks at the recent data coming out of Eurloand as distinctly bullish. As a result, they are revising up their GDP estimates.
A number of countries, notably the euro area’s two largest economies – Germany and France – posted a surprise rise in 2Q GDP. Others – like Italy, Spain [...]

The Federal Reserve Bank of Philadelphia released its monthly Business Outlook Survey for August 2009. The numbers showed that the manufacturing sector in the region is in recovery mode right now, with the survey recording its highest level since November 2007, the last month before the recession began.
The region’s manufacturing sector is showing some signs [...]

The data from the most recent Unemployment Insurance Weekly Claims Report are not particularly bullish. Claims are up for the second week in a row, dragging the 4-week average up with them. Year over-year comparisons continue to drop, but the two week increase is certainly a sign that employment is very much a weak link [...]

Right now many economists believe the US economy is poised for recovery.  Even I believe the economy will recover by year’s end. But for the man in the street, things hardly look like a recovery right now. Harried by falling house prices, foreclosure and lost employment, the US consumer is over-indebted and has run out [...]

The Unemployment Insurance Weekly Claims Report was released this morning, showing a slight increase in initial jobless claims to 558,000. Continuing claims came in at 6.2 million, down from 6.3 million the week before.  All of these figures are seasonally-adjusted.
On an unadjusted basis, claims were below 500K for the second week running.  In looking at [...]

The Employment Situation Summary for July was released today by the Bureau of Labor Statistics (BLS), showing a 9.4% unemployment rate and 247,000 jobs lost in July.  These numbers were better than anticipated, with the unemployment rate actually falling from 9.5%.
In its release, the BLS emphasized the fact that employment figures are improving. While the [...]

The US Department of Labor released the employment last data point before tomorrow’s widely anticipated unemployment number comes out. The data showed jobless claims declining to 550,000 from 588,000 on a seasonally-adjusted basis. This puts the 4-week average at 555,250, the lowest average number since January. Meanwhile seasonally-adjusted continuing claims ticked up a notch to [...]

The July 2009 Non-Manufacturing ISM Report On Business disappointed as it dropped to 46.4 from 47.0. Expectations had been for 48.0. The new orders and jobs components both fell, suggesting that the services sector is still contracting and not poised for an imminent rebound.

US private employers shed 371,000 jobs according to figures released by ADP today.  Expectations had been for a loss of 350,000. As this report was released two days before the employment situation summary that gives us the unemployment rate and the government’s official estimates for non-farm payrolls, it is a good proxy for what to [...]