Week 26-2021 | Rating

Week 26-2021 | Chart

Week 26-2021 | News

S&P CoreLogic Case-Shiller National Home Price Index

Home prices in April 2021 saw an annual gain of 14.6% in April, up from a 13.3% increase in March, according to the S&P CoreLogic Case-Shiller National Home Price Index. Among larger cities covered by the index, the 10-city composite was up 14.4% year over year, up from 12.9% the previous month. The 20-city composite was 14.9% higher, up from 13.4% in March. Phoenix, San Diego, and Seattle reported the highest year-over-year gains. All were up over 20% from the year before. “April’s performance was truly extraordinary. The 14.6% gain in the National Composite is literally the highest reading in more than 30 years of S&P CoreLogic Case-Shiller data,” said Craig Lazzara, managing director and global head of index investment strategy at S&P DJI.

ISM Manufacturing Index

Manufacturing grew in June, as the Manufacturing PMI registered 60.6 percent, 0.6 percentage point lower than the May reading of 61.2 percent. “The Manufacturing PMI® continued to indicate strong sector expansion and U.S. economic growth in June. Four out of five subindexes that directly factor into the Manufacturing PMI® were in growth territory.

PMI Manufacturing Final

US Markit manufacturing PMI for June 62.1 versus 62.6 preliminary. Markit manufacturing PMI (final) 62.1 versus 62.6 preliminary. Although lower than the preliminary, the 62.1 level is still tied for the highest level since the start of the series in May 2007 (last month the index was also at 62.1). May reading came in at 62.1. Firms indicated a solid rise in employment during June. The rate of job creation was the slowest for six months, however, as companies reported difficulties enticing workers back. Labour shortages exacerbated pressure on capacity, as backlogs of work rose at one of the steepest rates on record.

Consumer Confidence

Consumer Confidence Rises Sharply in June 2021 to Highest Level Since Pandemic. Consumers are poised to spend and travel as the coronavirus recedes. The Conference Board's monthly consumer confidence index rose sharply in June 2021 to 127.3 from a revised 120 in May 2021. The Present Situation index – which measures how consumers feel about current business and labor market conditions – rose to 157.7 from 148.7 a month earlier, the board reported Tuesday. Consumer confidence increased in June and is currently at its highest level since the onset of the pandemic's first surge in March 2020.

Construction Spending

U.S. construction spending unexpectedly fell in May as gains in private homebuilding were offset by persistent weakness in outlays on nonresidential structures and public projects. The Commerce Department said on Thursday that construction spending dropped 0.3% after edging up 0.1% in April. Economists polled by Reuters had forecast construction spending rising 0.4%. Construction spending, which accounts for about 3.6% of gross domestic product, increased 7.5% on a year-on-year basis in May.

ADP employment Report 692K

Private sector employers added 692,000 jobs in June, according to payroll giant ADP, in a further sign of economic recovery from the COVID-19 pandemic. Small businesses accounted for 215,000 of the jobs, including 93,000 in businesses with between one and 19 employees, and 122,000 in businesses with 20 to 49 employees, according to the ADP National Employment Report. Medium-sized businesses with between 50 and 499 employees gained 236,000 jobs in June. Large businesses added 240,000 jobs, including 51,000 in companies with between 500 and 999 employees, and 190,000 in corporations with 1,000 employees or more.

Factory Orders

New orders for U.S.-made goods rebounded sharply in May, while business spending on equipment remained solid, despite bottlenecks in the supply chain. The Commerce Department said on Friday that factory orders surged 1.7% in May after slipping 0.1% in April. Economists polled by Reuters had forecast factory orders rebounding 1.6%. Orders increased 17.2% on a year-on-year basis. Manufacturing accounts for 11.9% of the U.S. economy. Massive fiscal stimulus boosted demand for long-lasting manufactured goods during the COVID-19 pandemic, with millions of American working from home and learning remotely.

Pending Home Sales May 2021

Contracts to purchase previously owned U.S. homes rose by the most in 11 months in May 2021 driven by a decline in mortgage rates as well as an uptick in listings. The increase could signal some imminent relief from the shortage of homes for sale that has weighed on sales and driven residential property prices to record highs. The National Association of Realtors (NAR) said on Wednesday its Pending Home Sales Index, based on contracts signed last month, rose 8.0% to 114.7. Economists polled by Reuters had forecast pending home sales would decline 0.8% percent.

FHFA - Federal Housing Finance Agency House Price Index

​​​​​House prices rose nationwide in April, up 1.8 percent from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI®). House prices rose 15.7 percent from April 2020 to April 2021. The previously reported 1.4 percent price change for March 2021 was revised upward to a 1.6 percent increase. For the nine census divisions, seasonally adjusted monthly house price changes from March 2021 to April 2021 ranged from +1.2 percent in the West North Central division to +2.6 percent in the Mountain and Middle Atlantic divisions. The 12-month changes ranged from +13.0 percent in the West North Central to +20.6 percent in the Mountain division.

Trade Balance in Goods and Services

U.S. International Trade in Goods and Services, May 2021. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $71.2 billion in May, up $2.2 billion from $69.1 billion in April, revised.

Employment Situation

The economy added 850,000 jobs last month, according to the Bureau of Labor Statistics. Economists surveyed by Dow Jones were expecting an addition of 706,000. The print topped the 559,000 jobs created in May. “This is a strong report and should be taken as a sign of things to come for an accelerating labor market,” Aberdeen Standard Investments deputy chief economist James McCann said in a note In addition to the job gains, average hourly wages rose 0.3% for the month and are up 3.6% year over year, matching expectations.Unemployment rate 5.9% vs 5.7% expected.

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