Housing Hits Bottom
July 26, 2024 Existing home sales plunged 5.4% in June to 3,890 thousand which is the fourth consecutive decline in sales. Its current level is in line with the low points reached in both the 2008-09 and 2020 recessions. A dramatic increase in home prices and...
Consumer Sentiment
July 26, 2024 The final estimate of consumer sentiment for July declined 1.8 points to 66.4 after having fallen 0.9 point in June as consumers worry that inflation might remain higher than expected for a protracted period. Surveys of Consumers Director Joanne Hsu...
GDP, Inflation, and Interest Rate Forecasts
July 26 2024 The economy seems to slowing just a bit. The economy continues to create jobs and wages keep growing and consumers continue to spend GDP growth was 2.8% the second quarter and should be followed by 0.6% growth in the third quarter and 1.6% growth in...
Personal Income and Consumption Expenditures — Monthly
July 26, 2024 Personal consumption expenditures rose 0.3% in June after gaining 0.4% in May and 0.2% in April. In the past year nominal spending has risen 5.2%. What we are really interested in is "real" or inflation-adjusted spending. That is what goes into the...
Personal Consumption Expenditures Deflator
July 26, 2024 There are many different measures of inflation, but the one that the Federal Reserve considers to be most important is the personal consumption expenditures deflator, in particular the PCE deflator excluding the volatile food and energy components....
GDP
July 25, 2024 . The advance estimate of second quarter GDP growth was 2.8% compared to GDP growth of 1.4% in the first quarter. The second quarter reading was slightly higher than the consensus forecast of 2.5%. Final sales, which is GDP excluding the change in...
Final Sales
July 25, 2024 When the economy is slowing down, firms will accumulate unwanted inventories. Those inventories still show up in GDP, but they are unsold. Hence, GDP will be biased upwards. Similarly, in good times businesses will reduce inventory levels to...
Final Sales to Domestic Purchasers
July 25, 2024 It is important to remember that final sales is a measure of how many domestically produced goods are sold each quarter. But we also sell goods overseas -- our exports. And we purchase goods from other countries -- our imports. In the never-ending...
Gross Domestic Purchases Deflator
July 25, 2024 There are many different deflators that are available. This one is for gross domestic purchases which measures prices paid by U.S. residents. It is the one measure of inflation that the Commerce Department talks about when it releases the GDP...
Durable Goods Orders
July 25, 2034 Durable goods orders fell a sizeable 6.6% in June after having risen 0.1% in May. The decline was attributable to the very volatile transportation sector, non-defense aircraft in particular. With this latest decline durable goods orders have fallen...
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