Download the June 2019 Snapshot
- Real consumer spending fell slightly in April. Real expenditures on durable goods and services both fell, while real nondurable goods expenditures rose. Motor vehicle sales were robust in May.
- Real business equipment spending declined modestly in 2019Q1, as investment continued to weaken from its pace in 2018.
New orders of nondefense capital goods excluding aircraft have been below shipments since December (except in March), suggesting weak near-term momentum.
- Housing activity indicators were mixed. Home sales remained solid in April, likely fueled by a substantial decline in mortgage rates over recent months. However, single-family housing starts and permits remain lackluster. A still-strong labor market and lower mortgage rates potentially could provide support to the housing sector.
- Payroll growth was muted in May. The unemployment rate, the labor force participation rate and the employment-to-population ratio were all unchanged. Even with a low unemployment rate, some measures of labor compensation growth have flattened in the past few months.
- Core PCE inflation firmed a bit in April but remained below the FOMC’s longer-run objective.
- U.S. equity indices declined modestly over the past month, amid notable daily volatility. Implied volatility rose slightly. The nominal 10-year Treasury yield and the market-implied expected policy rate path fell significantly. The broad trade-weighted dollar index was little changed. Oil prices fell considerably over the month.
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
2019 Release Dates
Publication is normally on a Monday, with three Friday exceptions noted.