Author Hugo Dante

Hugo Dante

Hugo Dante is a specialist in economic research in the Economic Policy and Research group at the ABA.

Economy

Existing-home sales experienced a large rebound of 11.8 percent in February, to a seasonally adjusted annual rate of 5.51 million in February, according to the National Association of Realtors (NAR). This followed a 1.2 percent decrease in January. Sales are 1.8 percent below the February 2017 level. Lawrence Yun, NAR’s chief economist, credited a number

Economy

Producer prices rose 0.1 percent in February, seasonally adjusted, after falling 0.1 percent in January and December, according to the U.S. Bureau of Labor Statistics. Producer prices rose 1.9 percent on an un-adjusted basis for the twelve months ending in February. The index for final demand goods inched up 0.1 percent in February, following last

Economy

The National Association of Home Builders/Wells Fargo Housing Market Index held steady at 62 in March, the same level as February. Home builders report the market is stabilizing following the slowdown at the end of 2018, and they anticipate a solid spring home buying season. “The skilled worker shortage, lack of buildable lots and zoning

Economy

Consumer credit increased at a seasonally adjusted annual rate of 5 percent in January. Total outstanding credit increased $17.0 billion during the month to $4.034 trillion. Revolving credit, largely a reflection of credit card debt, increased at an annual rate of 3.0 percent to $1.06 trillion, following a 1.2 percent increase in December. Non-revolving credit

Economy

Total nonfarm payroll employment grew by 304,000 in January, an increase from last month, according to the Bureau of Labor Statistics. The national unemployment rate rose from 3.9 percent to 4.0 percent. Private service-providing industries gained 224,000 jobs, led by leisure and hospitality, which added 74,000 jobs. Goods-producing employment rose by 72,000 jobs during the

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