Fitch Ratings-New York-18 August 2008: U.S. CMBS delinquencies increased two basis points in July to end the month at 0.43%, according to the latest Fitch Ratings Loan Delinquency Index.
The credit crisis continued to exact a toll on U.S. corporate credit quality in the second quarter of 2008, according to Fitch Ratings. The par value of U.S. corporate bond downgrades totaled $115.4 billion, bringing the total value of bonds affected by downgrades over the past year to $423 billion, more than the prior two years combined.
Young US consumers surveyed spent more time on the Internet than with any other type of media in May 2008, according to a study conducted by DoubleClick Performics and ROI Research.
In the second quarter of 2008, employers initiated 1,534 mass layoff events that resulted in the separation of 299,886 workers from their jobs for at least 31 days, according to preliminary figures released by the U.S. Department of Labor's Bureau of Labor Statistics.
Regional and state unemployment rates were mostly higher in July. Overall, 43 states and the District of Columbia recorded over-the-month unemployment rate increases, 6 states registered decreases, and 1 state had no change, the Bureau of Labor Statistics of the U.S. Department of Labor reported.
comScore, Inc. released its monthly analysis of U.S. consumer activity at the top online properties for July 2008 based on data from the comScore Media Metrix service. Continuing the summer trends in Web usage observed last month, leisure-oriented categories demonstrated gains in July, including travel, retail, tickets and entertainment news.
Existing-home sales rose from the first quarter in 13 states, largely from buyers responding to discounted home prices, according to the latest quarterly survey by the National Association of Realtors(R). Nearly one-quarter of metropolitan areas showed rising home prices in the second quarter from a year ago, with greatly mixed conditions continuing around the country.
Real average weekly earnings fell by 0.8 percent from June to July after seasonal adjustment, according to preliminary data released by the Bureau of Labor Statistics of the U.S. Department of Labor. A 0.3 percent increase in average hourly earnings was more than offset by a 0.3 percent decrease in average weekly hours and a 0.9 percent increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.5 percent in July, before seasonal adjustment, the Bureau of Labor Statistics of the U.S. Department of Labor reported. The July level of 219.964 (1982-84=100) was 5.6 percent higher than in July 2007.