Rate Rise Will Not Slow Growth
January 3, 2025 Throughout the summer the Federal Reserve suggested strongly that inflation had subsided sufficiently that it would soon begin to cut rates. In September the Fed finally reduced the funds rate 0.5% to 4.75-5.0%, suggested it would lower the funds...
Purchasing Managers Index
January 3, 2025 The Institute for Supply Management’s index of conditions in the manufacturing sector rose 0.9 point in December to 49.3 after climbing 1.9 points in November. This is the highest level for this index since March of last year. A level of 49.3 is...
Construction Spending
January 2, 2025 Construction spending (the green bars above) was unchanged in November after having risen 0.5% in October. Construction spending climbed sharply in the first four months of last year, but it has slowed...
Initial Unemployment Claims
January 2, 2025 Initial unemployment claims fell 9 thousand in the week ending December 28 too 211 thousand after being unchanged in the previous week. This series has changed very little in the past nine months. The 4-week average of claims was 210 thousand at...
Case Shiller Index of Home Prices
December 31, 2024 The seasonally adjusted Case Shiller Index of Home Prices in 20 cities rose 0.3% in October after having risen 0.2% in September after rising 0.3% in August. It has risen 4.3% in the past year. Brian Luke, Head of Commodities, Real &P Digital...
Pending Home Sales
December 30, 2024 Pending home sales rose 2.2% in November to 79.0 after gaining 1.8% in October, 7.5% in September, and 0.6% in August. This is the fourth consecutive increase in this series. The National Association of Realtors chief economist, Lawrence Yun...
Happy New Year
December 27, 2024 No economic commentary this week. Enjoying the time with my family. I hope that you all are able to enjoy this holiday season by spending some time with your families as well. Happy New Year. Steve
New Home Sales
December 23, 2024 New home sales rebounded by 5.9% in November to 664 thousand after having plunged by 14.8% in October However, the October drop was almost exclusively in the South and clearly the result of the combo of Hurricanes Milton and Helene. Sales in the...
Consumer Confidence
December 23, 2024 . The Conference Board reported that consumer confidence fell 8.1 points in December to 104.7 after having risen by rose 3.2 points in November.. Chief Economist at the Conference Board, Dana Peterson, said “The recent rebound in consumer...
Durable Goods Orders
December 23, 2024 Durable goods orders fell 1.1% in November after having risen 0.8% in October. Durable goods orders have declined 5.2% in the past year. Much of the change in durables is frequently in the transportation sector -- airplanes, cars, and trucks. ...
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