Business inventories in August came in at $2.66 trillion, virtually unchanged from the month prior and up 1.1% from a year ago, the Commerce Department said. Trade sales and manufacturers’ shipments were $1.95 trillion, up 0.2% from the month prior and up 4.4% from a year ago.
Home purchase cancellations rose to 14.5% of pending sales in September, the highest rate on record outside the early months of the pandemic.
Consumer sentiment decreased 0.2% month-over-month in October to 48, and was down 10.4% from one year ago, according to final results of the University of Michigan Surveys of Consumers.
ABA joined state bankers associations in Illinois, Texas, California and Missouri in debuting ads thanking House lawmakers in each for supporting policies that help families and small businesses.
Bank deposits deliver different — and more — value than stablecoins do. Comparing them on only one dimension obscures the picture.
The 15-year fixed-rate mortgage also declined, to 6.68% from 6.71% last week, compared with 5.44% one year ago.
The convention will open with remarks from ABA President and CEO Rob Nichols, who will outline the association’s priorities for the year ahead and look ahead to the midterm election
