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 | 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...
by sslifer | Jul 25, 2024 | GDP, NumberNomics Notes
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...
by sslifer | Jul 25, 2024 | GDP, NumberNomics Notes
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 satisfy...
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