
Core Report | September 5, 2025
Q2 growth in the U.S. economy accelerated at a faster rate than initially calculated. The second estimate of Q2 GRP showed an annual increased of 3.3%, up from the initial calculation of 3.0% growth.
Q2 growth in the U.S. economy accelerated at a faster rate than initially calculated. The second estimate of Q2 GRP showed an annual increased of 3.3%, up from the initial calculation of 3.0% growth.
Q2 growth in the U.S. economy accelerated at a faster rate than initially calculated. The second estimate of Q2 GRP showed an annual increased of 3.3%, up from the initial calculation of 3.0% growth.
New housing starts increased sharply in July on the back of stronger apartment complex starts. New housing starts came in at a 1.428 million unit rate, up 5.2% from June and up 12.9% from the 1.265 million unit rate last July.
Business activity from the manufacturing sector in the New York region grew a faster rate than in July. August marked the second consecutive monthly increase in activity, the first occurrence since November/December. The two-month average increased to 8.7, the highest level since December.
New home sales increased slightly in June although at a slower rate than expected. June new home sales came in at a 627,000 unit annual rate, up 0.6% from May but down 6.6% from the 671,000 unit rate in June 2024.
A key leading indicator for the non-residential construction spending increased sharply in June. The June Dodge Momentum Index came in at 225.1, up nearly 7% from May and up over 12% from last June.
A key leading indicator for the non-residential construction spending increased sharply in June. The June Dodge Momentum Index came in at 225.1, up nearly 7% from May and up over 12% from last June.
The strong surge in buying during the March/April time frame to get ahead of any potential tariff price increases helped to pull demand forward and negatively impact sales in June.
After sliding the previous two months and in three of the past four months, sales of existing homes increased slightly in May. May existing home sales came in at 4.030 million unit rate, up 0.8% from April but down 0.7% from the 4.060 million unit rate in May 2024.
Freight rates for the trucking transportation industry continued to climb in May, now up for the fourth straight month. The May inferred freight rates (a simple equation of cost of shipments divided by total shipments) increased to 3.143.