Jobless claims cling near postrecession low

  • August 31, 2017
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  • realestate

The number of people who applied for unemployment benefits in late August remained close to a postrecession low, pointing to another solid monthly employment report near the end of summer. Initial jobless claims in the period running from Aug. 20 to Aug. 26 rose by 1,000 to 236,000, the government said Thursday. New claims count

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Consumer spending kicks into higher gear in July

  • August 31, 2017
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  • realestate

Helped by higher incomes and low inflation, Americans bought more furnishings for their homes in July and also ratcheted up spending at hotels and restaurants. Consumer spending rose 0.3% last month, the Commerce Department reported Thursday. That was a tick below the 0.4% forecast of economists polled.

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U.S. economic growth hits 3% rate in second quarter

  • August 30, 2017
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  • realestate

Q2 GDP revised up from initial estimate of 2.6% on stronger consumer spending This is the fastest quarterly growth rate in more than two years. Somewhat stronger consumer spending and business investment were behind the upward revision.

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Private-sector job growth surges in August, ADP says

  • August 30, 2017
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  • realestate

Private payrolls for August jumped at their fastest pace in five months thanks in part to strong gains in construction and manufacturing jobs, according to the latest release from ADP and Moody’s Analytics. Employers added a seasonally adjusted 237,000 jobs during the month, payroll processor ADP said. That was a big gain from the 178,000

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Home price gains were hot in June as Seattle sizzled, Case-Shiller says

  • August 29, 2017
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  • realestate

U.S. home price growth picked up steam in June as strong demand continued to buoy the market. The S&P/Case-Shiller 20-city index rose a seasonally adjusted 5.7% in the three-month period ending in June, compared with a year ago, the same rate of change as in May. The national index rose 5.8%, compared with a year

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U.S. trade deficit widens in July, advance report shows

  • August 28, 2017
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  • realestate

An early look at U.S. trade patterns in July points to a wider trade deficit. The advanced trade gap in goods — services are excluded — widened by 1.78% to $ 65.1 billion in July, the Commerce Department said Monday. Both exports and imports declined, but exports dropped at a faster pace in the month.

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Dallas Fed President (shrink & hold)

  • August 25, 2017
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  • realestate

Dallas Fed President Rob Kaplan said that he supports a move to shrink the balance sheet as soon as possible. The Dallas Fed president signaled that another rate hike at the end of the year was not a given. He said the central bank could afford to be “patient” and see if inflation pressures pick

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Orders for durable goods sink 6.8% in July, the most in nearly three years

  • August 25, 2017
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  • realestate

Orders for big-ticket U.S. good fell by the largest amount in three years in July, reversing a strong gain in the prior month, according to government data released Friday. The Commerce Department reported that orders for durable goods fell 6.8% in July, led by a sharp drop in volatile aircraft. It was the biggest decline

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July Existing Home Sales posts healthy levels

  • August 24, 2017
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  • realestate

July Existing Home Sales 5.44M vs. estimates of 5.57M.  Healthy level, but inventory shortages crimping stronger growth. Generally not a fact for interest rate pricing.

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The Fed mulls how to boost economic growth: Kansas City Federal Reserve Bank’s Esther George

  • August 24, 2017
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  • realestate

Kansas City Federal Reserve Bank President Esther George, along with other members of the U.S. Federal Reserve, have spoken publicly about their concerns over wages failing to rise at a faster pace given the tight labor market. Economic growth in the U.S. is averaging 2% a quarter since the Great Recession, but historical averages, according

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