by sslifer | Oct 1, 2024 | Housing, NumberNomics Notes
October 1 2024 Construction spending (the green bars above) declined 0.1% in August after having fallen 0.5% in July and 1.1% in June. Construction spending climbed sharply in the first four months of this year, but it has...
by sslifer | Sep 27, 2024 | Commentary for the Week, NumberNomics Notes
September 27, 2024 This past week we got the annual benchmark revisions to GDP and the income data. GDP growth did not change appreciably, but income growth for the past year doubled from what had been reported previously. That changes the outlook. Prior to the...
by sslifer | Sep 20, 2024 | Commentary for the Week, NumberNomics Notes
September 20, 2023 The financial press has been filled with analysis (and over analysis) of the Fed’s decision to the cut federal funds rate by 0.5% to 4.75-5.0%. Some economic experts suggest that the economy must be far weaker than the Fed is suggesting publicly to...
by sslifer | Sep 13, 2024 | Commentary for the Week, NumberNomics Notes
September 13, 2024 One of the mysteries of the current expansion has been the contrast between consumer confidence – which is terrible – and consumer spending – which is not. All of the various consumer confidence surveys are close to the low point reached in the...
by sslifer | Sep 6, 2024 | Commentary for the Week, NumberNomics Notes
September 6, 2024 The employment report for August was the icing on the cake. The labor market continues to cool. The Fed is going to lower the funds rate at its FOMC gathering on September 18. It will most likely be a 0.25% cut to the 5.0-5.25% range. But some...
by sslifer | Aug 30, 2024 | Commentary for the Week, NumberNomics Notes
August 30, 2024 Economists have a nagging concern that the economy could be teetering on the brink of a recession. They note several potential difficulties. Consumers are worried about the outcome of the election and the possibility of higher tax rates in the years...
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