by sslifer | Sep 23, 2022 | Commentary for the Week, NumberNomics Notes
September 23, 2022 The outcome of the Fed’s meeting this past week heightened a fear factor that had been percolating for months. It was not what the Fed did by raising the funds rate by 0.75%. That was largely expected. The scary part was what Fed Chair Powell...
by sslifer | Sep 23, 2022 | Forecasts, NumberNomics Notes
September 23, 2022 GDP growth contracted in the second quarter by 0.6% after having fallen by 1.6% in the first quarter. But we expect GDP growth to pick up to 1.5% in the second half of the year which would produce GDP growth of 0.3% in 2022. We expect GDP growth...
by sslifer | Sep 22, 2022 | Employment, NumberNomics Notes
September 22, 2022 Initial unemployment claims rose 5 thousand in the week ending September 17 to 213 thousand after having fallen 10 thousand in the previous week. Thus far, in the face of rising interest rates and the fear of a recession, employers are reluctant to...
by sslifer | Sep 22, 2022 | Inflation, NumberNomics Notes
September 22, 2022 Gasoline prices fell $0.04 in the week ending September 19 to $3.65 after having fallen $0.06 in the previous week. Prices have now fallen $1.35 since reaching a peak in mid-June. In South Carolina gasoline prices tend to be about $0.25 below the...
by sslifer | Sep 21, 2022 | Housing, NumberNomics Notes
September 21, 2022 Existing home sales fell 0.4% in August to 4,800 thousand after declining 5.7% in July. In fact, this is the seventh consecutive decline in sales since reaching a peak in January. Clearly home sales are being impacted by the combination of rapidly...
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