Empire State index retreats in November from three-year high

  • November 15, 2017
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  • realestate

The Empire State index fell 10.8 points to 19.4, moving back from a three-year higj but still pointing to a solid manufacturing environment in the New York area. Any reading above zero indicates improving conditions. The new-orders index rose to 20.4 and shipments fell to 18.4.

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Core CPI picks up while retail sales gain 0.2% in October

  • November 15, 2017
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Consumer prices minus food and energy picked up a bit in October while retail sales rose modestly, according to government data released Wednesday. The overall CPI rose by a seasonally adjusted 0.1% in October, while core prices rose a slightly stronger 0.2%. Over the past 12 months, core consumer inflation has risen 1.8%, up from

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U.S. producer prices surge 0.4% in October

  • November 14, 2017
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  • realestate

The producer price index rose 0.4% in October. That was well above the MarketWatch forecast of a 0.1% gain. Another measure preferred by economists, known as core PPI, rose 0.2% for the third straight month. The core rate strips out food, energy and trade margins. The increase in the PPI pushed the 12-month rate of

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Fed’s Harker pulls back slightly his support for a December rate hike

  • November 13, 2017
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  • realestate

Philadelphia Fed President Patrick Harker on Sunday seemed to waiver a bit in his support for another interest rate hike in December. In a speech in Tokyo, Harker said that he has “lightly penciled in” a December move, backing away a bit from the phrase “penciled in” that he had used in in an interview

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Consumer sentiment falls in November amid slight stirrings of inflation concerns

  • November 10, 2017
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Consumer sentiment declined in November, albeit from very strong levels. The University of Michigan consumer sentiment index fell to 97.8 from 100.7 in October. Economists polled by expected a 100.7 reading.

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Four-week jobless claims average falls to lowest level since March 1973

  • November 9, 2017
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Initial U.S. jobless claims, a tool to measure layoffs, rose by 10,000 to 239,000 in the week ended Nov. 4. That was higher than the 231,000 estimate of economists polled. The more stable monthly average of claims decreased by 1,250 to 231,250 to the lowest level since March 1973. The number of people already collecting

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U.S. job openings stay close to record high

  • November 7, 2017
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The number of job openings in the U.S. rose slightly in September to 6.09 million, keeping them near a record high. Some 5.27 million people were hired, down from 5.42 million. And 5.24 million people lost their jobs, also down from the prior month, the Labor Department reported Tuesday. The so-called quits rate among private-sector

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Fed announces Dudley mid-2018 retirement

  • November 6, 2017
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  • realestate

Federal Reserve Bank of New York President William Dudley will retire next year, around six months earlier than scheduled, the Fed’s regional New York bank confirmed Monday in a statement. A search for Dudley’s successor will start with an eye toward the finding one in mid-2018. Dudley’s term ends in January of 2019 when he

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US created 261,000 jobs in Oct, vs 310,000 jobs expected

  • November 3, 2017
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  • realestate

The U.S. economy added 261,000 jobs in October and the unemployment rate was 4.1 percent as labor conditions returned to normal following the storm-weakened September. However, the number was considerably below Wall Street expectations of 310,000. The tick lower in the unemployment rate came against expectations it would hold steady at 4.2 percent. A broader

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Tax plan caps property deduction at $10,000, puts new limit on mortgage deduction

  • November 2, 2017
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  • realestate

A sweeping overhaul of the tax code would cap the deduction for property taxes at $10,000 and preserve the mortgage interest deduction only for existing mortgages and new purchases with loans of $500,000 or less, documents distributed to House members Thursday show.

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