Download the October 2018 Snapshot
- The pace of growth in real consumer spending was firm in August, but it was still somewhat below that of recent months. As was the case in July, the increase in spending for August was led by services and nondurable goods expenditures.
- The recent monthly readings suggest that business equipment spending growth may be somewhat stronger in 2018Q3 than it was in the first half of 2018. New orders of capital goods (excluding aircraft) remained above shipments, continuing to suggest some momentum over the near term.
- Housing activity indicators remained soft in August. Home price appreciation, which had remained solid in earlier in the year, slowed some in the most recent readings. These patterns suggest that higher mortgage rates have had moderate restraining effects on the housing market.
- Payroll growth was below expectations in September, but was revised significantly upward for both July and August. The unemployment rate fell to its lowest level since 1969. The latest readings of various measures of labor compensation point to some firming of wage growth.
- Core PCE inflation continued to run at a level roughly consistent with the FOMC’s longer-run objective.
- After reaching new highs, U.S. equity indices fell sharply in the past week amid higher volatility. The nominal 10-year Treasury yield increased significantly, reaching a multi-year high, mostly due to higher real yields. The broad trade-weighted dollar index rose modestly. Oil prices moved higher to around their highest levels since late 2014.
We post accompanying data for the charts, if permitted, with the intent to expand the series to the fullest extent possible.
Read more about the launch of the series: Just Released: U.S. Economy in a Snapshot
, Liberty Street Economics
, June 2015
2018 Release Dates
Publication is normally on a Monday, with three Friday exceptions noted.
** Released at 11am.