Author Hugo Dante

Hugo Dante

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

Economy

The ISM Manufacturing Index registered 54.1 points in December, down 5.2 percentage points from the previous month, according to the Institute for Supply Management. December’s reading indicates the one-hundred-and-sixteenth consecutive month of expansion in manufacturing, as readings over 50 points denote expansion. Of the eighteen manufacturing industries, eleven reported growth, while six reported contraction. Nine

Economy

New orders for manufactured durable goods increased 0.8 percent in November to $250.8 billion, following two consecutive monthly decreases including a 4.3 percent decrease in October, according to the U.S. Census Bureau. Transportation equipment drove the increase, rising 2.9 percent to $87.0 billion over the month. New orders, excluding the transportation sector, decreased 0.3 percent.

Economy

Real GDP grew at a seasonally adjusted annual rate of 3.4 percent during the third quarter of 2018, according to the Bureau of Economic Analysis’s third estimate, revised down from the “second” estimate. Personal Consumption and Expenditures (PCE) and exports were revised down, and private inventory investment was revised up. The general picture of economic

Economy

Existing-home sales increased 1.9 percent, the second consecutive monthly increase, to a seasonally adjusted annual rate of 5.32 million in November, according to the National Association of Realtors (NAR). This followed a 1.4 percent increase in October. Sales are 7.0 percent below the November 2017 level.Lawrence Yun, NAR chief economist, says two consecutive months of

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