by sslifer | Jul 26, 2024 | Commentary for the Week, NumberNomics Notes
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...
by sslifer | Jul 26, 2024 | Consumer, NumberNomics Notes
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...
by sslifer | Jul 26, 2024 | Forecasts, NumberNomics Notes
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...
by sslifer | Jul 26, 2024 | Consumer
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...
by sslifer | Jul 26, 2024 | Inflation, NumberNomics Notes
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. The...
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