Initial Unemployment Claims

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...

Gasoline Prices

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...

Existing Home Sales

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...

Housing Starts

September 20, 2022 Housing starts jumped 12.2% in August to 1,575 thousand after having fallen 10.9% in July.  While bouncing around from month-to-month, builders are clearly becoming more cautious. Builders confidence has declined in the past several months as rising...

Consumer Sentiment

September 16, 2022 The preliminary estimate of consumer sentiment for September rose 1.3 points to 59.5 after having climbed 6.7 points in July..  The June level was the lowest on record and roughly comparable to the low levels reached in the 1980 recession. Surveys...

Industrial Production

September 15, 2022 Industrial production declined 0.2% after rising 0.5% in July.  In the past year production has risen 3.7%, and in the  most recent three-month period it continues to grow at a solid 3.7% pace. Breaking industrial production down into its three...