Market Fears Not Justified
July 23, 2021 The economy is on a roll with no appreciable slowdown in sight. The stock market reaches a new record high level every few weeks. Bond yields are lower than anybody expected with inflation on the rise. With such a heady economic and investment...
GDP, Inflation, and Interest Rate Forecasts
July 23, 2021 . The latest round of $1,400 tax stimulus checks sharply boosted retail sales. The virus is rapidly getting under control and some epidemiologists expect herd immunity to be achieved soon. Given all of that, we expect 9.0% GDP growth in the second...
Existing Home Sales
July 22, 2021 Existing home sales rose 1.4% in June to 5,860 thousand after having declined by 1.2% in May. The four consecutive declines from February through May were almost certainly caused by the the lack of supply which is currently at a near record low...
Initial Unemployment Claims
July 22, 2021 Initial unemployment claims for the week of July 17 rose 51 thousand to 419 thousand after having fallen 18 thousand in the previous week. The July 10 level of 368 thousand was the lowest level of claims since March 14, 2020 when it was 256...
Housing Starts
July 20, 2021 Housing starts jumped 6.3% in June to 1,643 thousand after having risen 2.1% in May. Like every other economic indicator, starts have rebounded sharply since the recession ended last April and have far surpassed the levels where they were in February...
Homebuilder Confidence
July 19, 2021 .Homebuilder confidence fell 1 point in July to 80 after having declined 2 points in June. The last several months the index has fallen slightly from a 35-year old record high level of 90 set in November of last year. It was at 74 in February of...
On Vacation This Week
July 16, 2021 On vacation this week. Back on July 23. Enjoying Maine weather. Steve Slifer
Consumer Sentiment
July 16 2021 . The preliminary estimate of consumer sentiment for July fell 4.7 points to 80.8 after rising rose 2.6 points in June. Surveys of Consumers Chief Economist Richard Curtin said, "Consumers’ complaints about rising prices on homes, vehicles, and...
Retail Sales
July 16, 2021 Retail sales rose 0.6% in June after having declined 1.7% in May, risen 0.9% in April and jumping 11.3% in March The huge increase in sales in March partly reflects a rebound from the depressed sales level for February caused by a series of snow and...
Industrial Production
July 15, 2021 .Industrial production rose 0.4% in June after climbing 0.7% in May and being unchanged in April Production has risen steadily since reaching a low point in April of last year. The nation's production sector continues to recover. However, as shown...
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