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Philly Fed manufacturing report shows slowing growth in July

  • July 20, 2017
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  • realestate

Manufacturers reported solid, but slowing, growth in July. The Philadelphia Federal Reserve said its manufacturing survey in July fell to 19.5 from 27.6 in June.

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Housing starts jump as construction, home buying get back on track

  • July 19, 2017
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  • realestate

Housing starts were at a 1.22 million seasonally adjusted annual rate, the Commerce Department said Wednesday, 8.3% higher than in May and 2.1% higher for the year. The MarketWatch consensus of economists was for a 1.16 million annual pace.

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U.S. import prices decline in June for third time in four months

  • July 18, 2017
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  • realestate

Falling import prices show that barely any inflation is coming into the U.S. from abroad. The price of imported goods fell in June for the third time in four months, the latest signal that inflation in the U.S. has waned after a rapid buildup last year. The import price index dropped 0.2% last month, largely

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Empire State manufacturing index retreats in July from two-year high

  • July 17, 2017
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  • realestate

The New York Fed’s Empire State manufacturing index fell to a seasonally adjusted reading of 9.8 from 19.8 in June. Economists polled by Econoday expected a reading of 15, on a scale where any figure above zero indicates improving conditions. Readings in July for new orders, shipments, inventories, delivery times and number of employees all

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Consumers aren’t spending, and surging rent might be to blame

  • July 15, 2017
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  • realestate

The cost of rent is on the rise again, pressuring Americans’ pocketbooks and crimping growth throughout the economy. Rent rose 3.9% compared to a year ago in June, the Labor Department said Friday. While that’s only a slight uptick from 3.8% annual gains in the past couple of months, the average annual increase in each

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Consumer sentiment falls again in July as Trump euphoria wears off

  • July 14, 2017
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  • realestate

The University of Michigan’s sentiment index slipped to 93.1 in July from 95.1 in June. The index has fallen from a 13-year high of 98.5 in January, when President Trump took office. Consumers were optimistic at the start of the Trump presidency, especially Republicans, but the early hopes about even faster U.S. growth appear to

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Industrial production climbs for fifth month in June

  • July 14, 2017
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  • realestate

Industrial production rose 0.4% in June, a touch ahead of expectations, as mining output surged 1.6%, the Federal Reserve reported. Utilities output as flat and manufacturing output edged up 0.2%.

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Fed’s tightening plans not definitively derailed by wave of soft data

  • July 14, 2017
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  • realestate

The flurry of economic reports released Friday were not, on balance, that strong. But they may not be weak enough to derail the Federal Reserve’s plans for hiking interest rates and reducing its balance sheet later this year.

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GDP estimates for second quarter come tumbling down

  • July 14, 2017
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  • realestate

On Friday, the New York Fed said its “nowcast” has been reduced to 1.9% for the second quarter, down a tick from its last report, and from as high as 2.6% in April. A similar assessment from the Atlanta Fed called GDPNow fell to 2.4% from 2.6%, and is down from 4.3% in May.

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U.S. retail sales fizzle out in June

  • July 14, 2017
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  • realestate

Sales at retailers nationwide fell 0.2% last month to mark the second straight drop and match the biggest decline of the year. Sales also fell 0.1% in May, though fresh revisions show the decline was not as large as originally reported. The disappointing sales figures suggest the U.S. has not rebounded quite as strongly in

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