Chicago PMI holds steady at 58.9 in August

  • August 31, 2017
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  • realestate

A gauge of Chicago-area economic activity held steady in August, after retreating from a 3-year high in the prior month. The Chicago PMI remained at 58.9 for the second straight month, MNI Indicators said Thursday. Any reading above 50 indicates improving conditions. Economists had expected a slight pull back in August. The index slowed a

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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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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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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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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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U.S. jobless claims inch up from six-month low

  • August 24, 2017
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  • realestate

The number of people who applied for U.S. unemployment-insurance benefits inched up by 2,000 to 234,000 in the week that ended Aug. 19, after hitting a six–month low in the prior week, according to Labor Department data released Thursday.

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Manufacturing, service ‘flash’ PMI readings split direction in August

  • August 23, 2017
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  • realestate

The service and manufacturing sectors went in different directions in August, according to data released Wednesday. The IHS Markit flash manufacturing purchasing managers index fell to a two-month low of 52.5 from 53.3 in July, while the services PMI rose to a 28-month high of 56.9, up from 54.7 in July. Any reading above 50

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