Private sector employment increased by 44,000 in July, while pay rose 4.4% year-over-year, ADP reported.
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US Nonresidential Construction Spending Rises on Data Center Strength in June
US nonresidential construction spending rose 0.1% in June, while data center construction increased 7%, ABC reported.
US Job Openings and Labor Turnover Summary for June
US job openings changed little at 7.4 million in June, while hires were unchanged at 5.3 million and total separations changed little at 5.4 million.
US Construction Spending Slips in June
US construction spending declined 0.1% month-over-month and 3.2% year-over-year in June to a seasonally adjusted annual rate of $2.167 trillion.
Housing’s Share of US Real GDP Trends Lower in Q2
Housing accounted for 15.8% of US real GDP in Q2, down from 15.9% in Q1 and the lowest share since 2019, according to the BEA and NAHB.
Goods-Producing Industries Lead Canadian GDP Growth in May
Canadian real GDP by industry rose 0.3% in May, led by a 0.6% gain in goods-producing industries, as 13 of 20 sectors expanded.
US Homebuying Demand Slows as Mortgage Rates Reach One-Year High
US pending home sales fell to their lowest level since early April as mortgage rates reached 6.85%, Redfin said.
Fannie Mae Reports $4.0 Billion in Q2 Net Income
Fannie Mae reported $4.0 billion in Q2 net income, up from $3.7 billion in Q1, while net worth increased to $116.5 billion as of June 30.
University of Michigan Releases Final Consumer Sentiment Results for July
Consumer sentiment rose 11.5% to 55.2 in July but remained 10.5% below a year earlier.
US Commercial Mortgage Delinquency Rates Decline in Q2
Commercial mortgage delinquency rates declined across most property types and capital sources in Q2, while CMBS delinquencies remained elevated, MBA reported.