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October 27, 2014

Latest Economic News From The U.S. and Canada

  • The Conference Board index of leading U.S. economic indicators increased 0.8 percent in September. According to Conference Board economist Ataman Ozyildirim, “The outlook for improving employment and further income growth are expected to support the moderate expansion in the U.S economy for the remainder of the year.”
  • According to Statistics Canada, wholesale sales in the nation rose 0.2 percent in August as sales in machinery, equipment and supplies offset declines in other sectors.
  • The Kansas City Federal Reserve Bank announced its manufacturing index fell to +4 in October from +6 in September as the production, new orders, employment and shipments sub-indices all dropped.
  • The number of Americans who received federal unemployment benefits for the first time increased to 283,000 for the week that ended Oct. 18 from 266,000 the week before. The four-week average of first-time claims fell slightly while the number of Americans who continued to receive federal jobless benefits fell to 2.351 million (the reading’s lowest level since December 2000) for the week that ended Oct. 11 from 2.389 million the week before. Meanwhile, the U.S. Labor Department also said last week that 39 states added jobs in September while 10 states lost jobs and employment in South Dakota remained flat. 
  • In other economic news: sales of new homes in the U.S. inched up 0.2 percent between August 2014 and September 2014 and were up 17 percent between September 2013 and September 2014; existing homes sales in the U.S. were up 2.4 percent from August to September, but are still down 1.7 percent year-over-year; and U.S. consumer prices rose 0.1 percent in September and were up 1.7 percent from the previous year.