Gary Siegel

The region's manufacturing sector expanded at a slower pace in July, as the general business conditions index dropped to 5.7 from 15.2 in June, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.

Builders' confidence in the market for new single-family homes was steady as the National Association of Home Builders' housing market index remained at 60 in July.

The New York region's service sector activity "expanded moderately," according to the Federal Reserve Bank of New York's July Business Leaders Survey, released Thursday.

The European Central Bank announced its Governing Council held interest rates at its latest monetary policy meeting Thursday.

San Francisco Federal Reserve Bank President John Williams said he will continue to take a "wait-and-see" approach to a rate hike, since it is data-dependent, and he need to be more confident inflation will rise to the 2% Fed target.

All Federal Reserve districts said economic activity grew from mid-May through June, with most terming the expansion as "moderate" or "modest," according to the Beige Book, released Wednesday afternoon.

The economy can handle lift-off, according to Federal Reserve Bank of Cleveland President and Chief Executive Officer Loretta J. Mester, who noted a small increase in the fed funds rate would mean monetary policy should remain accommodative "for some time to come."

Industrial production climbed 0.3% in June, the Federal Reserve reported Wednesday.

The Empire State Manufacturing Survey showed "business activity improved slightly for New York manufacturers," the Federal Reserve Bank of New York reported Wednesday, as the general business conditions index climbed to positive 3.86 in July from negative 1.98 in June.

Newly issued Treasury securities held in stripped form increased about $2.094 billion in June to a total of $215.551 billion, the Bureau of the Public Debt reported Tuesday.

The drop in the forecasts by Federal Open Market Committee members "could translate into a longer period of accommodative monetary policy," according to a Federal Reserve Bank of San Francisco Economic Letter.

The Conference Board's Employment Trends Index (ETI) climbed to 129.11 in June from a downwardly revised 128.47 in May, and is up 4.8% from a year ago, the group announced Monday.

The U.S. services sector expanded at a faster pace in June as the non-manufacturing business activity composite index was 56.0 in the month, compared to 55.7 in May, on a seasonally adjusted basis, the Institute for Supply Management reported Monday.

New orders for manufactured goods decreased 1.0% in May, after falling a revised 0.7% in April, first reported as a 0.4% decrease, the Commerce Department reported Thursday.

New York City business activity "accelerated" in June, as the current business conditions index increased to 63.1, from 54.0 in May, the Institute for Supply Management-New York's Report on Business index, released Thursday, indicated.

U.S. inflationary pressures were down in June, as the U.S. future inflation gauge fell to 100.5 from an unrevised May 101.3 reading, according to data released Thursday morning by the Economic Cycle Research Institute.

Liquidity has declined from 2010 levels, especially in the Treasury market, according to the Federal Reserve's June 2015 Senior Credit Officer Opinion Survey on Dealer Financing Terms, released Wednesday.

About 5,300,700 online job postings appeared on leading Internet job boards in June, a decrease of 144,300 from May, the Conference Board reported Wednesday.

The overall economy grew for the seventy-third straight time, while the manufacturing sector expanded for the thirtieth consecutive month, the Institute for Supply Management reported Wednesday.

Construction spending increased 0.8% in May, the Commerce Department said Monday, and is 8.2% above the May 2014 level.