Consumer sentiment retreats in late August

  • September 1, 2017
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  • realestate

Consumer sentiment pulled back to a final August reading of 96.8 in August from a high preliminary reading of 97.6, according to reports on the University of Michigan gauge released Friday.

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ISM manufacturing index jumps to six-year high in August

  • September 1, 2017
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  • realestate

Manufacturing activity was the strongest in six years in August, according to a survey of purchasing managers released Friday. The Institute for Supply Management said its manufacturing index in August climbed to 58.8% from 56.3% in July. That is the highest reading since April 2011. Economists polled by MarketWatch expected a reading of 56.8%. Any

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The Fed: What do they do now?

  • September 1, 2017
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  • realestate

The Federal Reserve has been watching the Jobs numbers closely. The Fed has indicated plans to raise its benchmark interest rate target another quarter-point this year, but could be held back due to weak inflation. Specifically, policymakers have been looking for signs of accelerated wage growth, which has been stuck around 2.5 percent for most

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Job Growth slows in August

  • September 1, 2017
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  • realestate

The U.S. economy added 156,000 net new jobs in August, missing expectations for 180,000 jobs. The unemployment rate ticked up slightly to 4.4% from 4.3%, while the labor force participation rate stayed flat at 62.9% during the month. Average hourly earnings meanwhile increased by 3 cents, or 0.1%. Economists polled had predicted a 170,000 increase

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Employment index slips below 50 for first time since March

  • August 31, 2017
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  • realestate

The employment subcomponent fell below 50 in August for the first time since March. This is the sixth contraction in the employment indicator in the last 12 months, with fewer firms expecting an increase in hiring. Inflation pressures also eased slightly in August and have been on a downward trend this year.

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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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