Chicago Fed economic index cools from October’s best reading in nearly a decade

  • December 21, 2017
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  • realestate

A measure of national economic activity calculated at the Chicago Federal Reserve eased in November after an October surge, but leaves the less-volatile three-month average on a positive trajectory. The Chicago Fed’s index of national economic activity cooled to a positive 0.15 last month from an upwardly revised positive 0.76 in October, the central bank

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Philly Fed index shows accelerating factory momentum in December

  • December 21, 2017
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  • realestate

The Philadelphia Fed’s Manufacturing Business Outlook Survey jumped to a reading of 26.2 in December from 22.7, beating the consensus forecast of a slight downtick to 21.8.

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Jobless claims jump by most since early September

  • December 21, 2017
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  • realestate

Initial U.S. jobless claims, a tool to measure layoffs, rose by 20,000 to 245,000 in the week ended Dec. 16. That was above the 230,000 estimated. The more stable monthly average of claims increased by 1,250 to 236,000, the government said Thursday. The number of people already collecting unemployment benefits, known as continuing claims, rose

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Third-quarter GDP revised down slightly to 3.2% rate

  • December 21, 2017
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  • realestate

The U.S. economy’s pace of growth in the third quarter was lowered slightly to a 3.2% annual rate from 3.3% under the government’s final revision to gross domestic product. Economists were expecting GDP to be unrevised. The economy expanded at a 3.1% rate in the second quarter.

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House approves tax overhaul, sending bill to President Trump’s desk

  • December 20, 2017
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  • realestate

The House gave final approval Wednesday to the Republican tax reform package, sending the legislation to President Trump’s desk. It is the biggest rewrite of the tax code since the Reagan administration.

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Existing-home sales roar to the highest since 2006

  • December 20, 2017
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  • realestate

Existing-home sales were at a 5.81 million seasonally adjusted annual rate in November, the National Association of Realtors said Wednesday. Sales of previously-owned homes surged 5.6% to an annual 5.81 million pace in November, the third month of increases and the strongest since December 2006. Sales were 3.8% higher compared to a year ago in

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U.S. current account deficit falls to three-year low

  • December 19, 2017
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  • realestate

The U.S. current-account deficit, a measures of the nation’s debt to other countries, sank 19% in the third quarter to the lowest level in three years. The deficit declined to $100.6 billion from $124.4 billion. The U.S. recorded a small deficit in secondary income and goods and a bigger surplus in primary income and services.

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Home-builder confidence roars to an 18-year high

  • December 18, 2017
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  • realestate

The National Association of Home Builders’ monthly sentiment index surged five points to 74 in December, its highest reading since 1999. Economists had forecast a flat reading at the 70 level. November’s reading was revised down a tick, while builder sentiment turned far more bullish than expected this month. In November, the subindex of current

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Treasury yields tick higher on building optimism for tax bill

  • December 18, 2017
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  • realestate

Treasury prices fell, pushing yields higher, on Monday on mounting expectations that Congress will pass tax-cut legislation this week. The 10-year Treasury note yield rose to 2.371%, up from 2.353% on late Friday. The 2-year note yield edged higher to 1.848%, from 1.840%. The 30-year bond yield rose to 2.702%, versus 2.685%. Bond prices move

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Empire State index slips for third month in December

  • December 15, 2017
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  • realestate

The Empire State manufacturing index fell slightly in December, to a reading of 18 from 19.6 in November, the New York Fed said Friday. Any reading above zero indicates improving conditions, though it’s the third drop in a row.

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