Existing Home Sales

February 22, 2024 . Existing home sales rose 3.1% in January to a 4,000 thousand pace after having declined 0.8% in December  Sales had been falling for almost two years as the combination of sharply higher mortgage rates and higher home prices took their toll  But...

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Initial Unemployment Claims

February 22, 2024 Initial unemployment claims fell  12 thousand in the week ending February 17 to 201 thousand after having declined 7 thousand in the previous week.  Thus far, in the face of rising interest rates and the fear of a recession, employers are...

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Consumer Sentiment

February 16, 2024 The preliminary estimate of consumer sentiment for February rose 0.6 to 79.6 after having jumped 9.3 points in January .  The rising stock market recently reached a new record high level and lower interest rates, mortgage rates in particular, are...

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Housing Starts

February 16, 2024 Housing starts plunged 14.8% in January to 1,331 thousand after  having risen 3.3% in December as extremely cold and snowy conditions throughout much of the country in January took a toll.    But because building permits were relatively steady we...

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Producer Price Index

February 16, 2024 The Producer Price Index for final demand  includes producer prices for goods, as well as prices for construction, services, government purchases, and exports and covers over 75% of domestic production. Producer prices for final demand rose 0.3%...

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Homebuilder Confidence

February 15, 2024 Homebuilder confidence rose 4 points in February to 48, after climbing 7 points in January and 3 points in December.  Thus, confidence has risen 14 points in the past three months as mortgage rates have declined by a percentage point.   But keep...

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Industrial Production

February 15, 2024 Industrial production fell 0.1% in January after  having been unchanged in December..  January was a bad weather month which undoubtedly contributed the softness in production in that month.  It should rise more sharply in February.  In the past...

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Retail Sales

February 15, 2024 Retail sales declined 0.8% in January after having risen 0.4% in December.  In the past year retail sales have risen by 1.1%.  This sizable decline in January was a much bigger drop than most economists had expected.  After the fact, it seems...

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