RSSCategory: Economic Updates

Oct

22

Economic Update for Monday, October 22, 2012

HOME SALES DECLINE, BUT HOUSING STARTS RISE 15% The National Association of Realtors recorded a 1.7% decrease in existing home sales in September. Reduced inventory might have played a role. The amount of homes on the market fell to a 5.9-month supply, a low unseen since March 2006. The median home price was $183,900 in […]

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Oct

15

Economic Update for Monday, October 15, 2012

OUTLOOK OF CONSUMERS BRIGHTENS AGAIN Economists weren’t expecting the University of Michigan’s preliminary October consumer sentiment survey to show a major advance – but it did. The index came in at 83.1, notably better than September’s final 78.3 mark. While the much-watched consumer gauge is still well below a “normal” reading of 100, this was […]

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Oct

8

Economic Update for October 8, 2012

JOBLESS RATE DIPS TO 7.8% In September, unemployment fell to the lowest level in 43 months. The Labor Department said that non-farm payrolls expanded by 114,000 positions, less than the 120,000 consensus estimate of analysts polled by Briefing.com but better than the five-figure gains that were common in summer. The underemployment rate remained at 14.7% […]

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Sep

24

Economic Update for September 24, 2012

HOME SALES SOAR, HOUSING STARTS INCREASE According to the National Association of Realtors, the volume of residential resales hit a 27-month peak in August. Sales rose 7.8% for the month while the inventory of unsold homes decreased to 6.1 months (the smallest estimate since January). There was also a 9.5% year-over-year gain in the median […]

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Sep

17

Economic Update for September 17, 2012

FEDERAL RESERVE OPTS FOR OPEN-ENDED EASING On September 13, America’s central bank announced its third round of quantitative easing since 2008. QE3 has no set timeframe: the Fed will buy $40 billion of agency mortgage-backed securities each month until it elects to halt its effort. Pair that with the ongoing Operation Twist and the Fed […]

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Sep

10

Economic Update for September 10, 2012

WILL THIS JOBS REPORT PROMPT THE FED TO ACT? In August, employers added 96,000 jobs – far short of the 144,000 consensus estimate of economists polled by Briefing.com. About 40% of the new hires were in four low-paying sectors (retail, leisure & hospitality, temporary help and home health care services). The jobless rate did fall […]

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Sep

3

Economic Update for September 3, 2012

BERNANKE: FED SHOULD NOT “RULE OUT” EASING Speaking Friday at the Federal Reserve’s annual Jackson Hole, WY symposium, Fed Chairman Ben Bernanke gave Wall Street a bit of a lift. Commenting that the recovery is “far from satisfactory”, he expressed that the central bank “should not rule out” further stimulus. The Dow rose 90 points […]

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Aug

27

Economic Update for August 27, 2012

MORE HOMEBUYING IN JULY Census Bureau data showed new home sales increasing 3.6% in July to a two-year peak, with an annual gain of 25%. In addition, the National Association of Realtors reported a 2.3% gain in existing home sales last month; residential resales were 10% improved from 12 months ago. The latest edition of […]

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Aug

20

Economic Update for August 20, 2012

CPI FLAT FOR A SECOND CONSECUTIVE MONTH In July, the federal Consumer Price Index showed no overall advance. That was the case in June as well, and that might just bolster the case for easing at the Federal Reserve. Consumer prices rose only 1.4% annually, the smallest increase since the November 2010 index. Core CPI […]

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Aug

13

Economic Update for August 13, 2012

WILL GAS HIT $4 AGAIN? In April, the national average price for a gallon of gas peaked at $3.94. Few analysts think prices will return to that level, though the U.S. average hit $3.67 Friday – an increase of $0.34 since July 1, translating to about $33 more a month for the typical U.S. household. […]

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