Author Archives: Tim Nicholson

GDP Revised Up to 3.5% for Third Quarter

Real GDP for the third quarter of 2016 grew at a seasonally adjusted annual rate of 3.5%, according to the Bureau of Economic Analysis’s third estimate, up from the second estimate of 3.2%. The general picture of economic growth remains the same. The change in GDP estimates reflected upward revisions to nonresidential fixed investment, personal consumption expenditures, and state and ...

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Builder Confidence at 11-Year High

The National Association of Home Builders/Wells Fargo Housing Market Index rose to 70 in December, a 7 point increase from November and the highest reading in over a decade. “Though this significant increase in builder confidence could be considered an outlier, the fact remains that the economic fundamentals continue to look good for housing,” said NAHB Chief Economist Robert Dietz. ...

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CPI Increased 0.2% in November

The Consumer Price Index increased 0.2% in November on a seasonally adjusted basis. Over the last 12 months, the all-items index rose 1.7%. Prices for all items less food and energy, increased 0.2% in November, up from a 0.1% increase in October. The index rose 1.7% for the 12 months ending in November. The food index was unchanged for the ...

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International Trade Balance Widened in October

The U.S. international trade deficit expanded in October to $42.6 billion, up from $36.2 billion in September, according to the U.S. Census Bureau of Economic Analysis. The expansion reflected a $3.4 billion decrease in exports along with a $3.0 billion increase in imports. The goods deficit increased $6.3 billion to $63.4 billion, while the services surplus fell $0.1 billion to ...

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Home Price Growth Continued in September

The 20-City CoreLogic Case-Shiller Composite Index increased 5.1% year-over-year in September, unchanged from August’s increase. The 10-City Composite increased 4.3% annually, up from a 4.2% increase in the previous month. The National Index, which covers all nine Census divisions reported a 5.5% annual gain in September and reached an all-time high. On a seasonally adjusted monthly basis, both the 10- ...

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Small Business Optimism Rose in October

The NFIB Small Business Optimism Index rose 0.8 points in October to 94.9. Five of the ten index components posted gains, while four declined. Labor market conditions softened, as only 55% of businesses reported hiring or trying to hire, down 3 points from September. Forty-eight percent reported few or no qualified applicants for open positions (unchanged from September). Fifteen percent ...

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Consumer Credit Grew 6.3% in September

Consumer credit increased at a seasonally adjusted annual rate of 6.3% in September, down from an 8.8% rate in August. Total outstanding credit increased $19.3 billion during the month (compared with $26.8 billion in August) to $3.71 trillion. Revolving credit rose at an annual rate of 5.2% to $978.8 billion, compared to a 7.0% increase in August. Non-revolving credit rose ...

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International Trade Balance Narrowed in September

The U.S. international trade deficit narrowed in September to $36.4 billion, down from $40.5 billion in August, according to the U.S. Census Bureau and the Bureau of Economic Analysis. The narrowing reflected a $1.0 billion increase in exports along with a $3.0 billion decrease in imports. The goods deficit decreased $2.6 billion to $57.5 billion, while the services surplus increased ...

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161,000 Jobs Added in October, Unemployment Down to 4.9%

Total nonfarm payroll employment rose by 161,000 in October, down from September’s upwardly revised figure of 191,000, according to the Bureau of Labor Statistics. The national unemployment rate fell 0.1 point to 4.9%. The majority of gains occurred in professional and business services and in health care. Private-service providing industries added a net 142,000 jobs, led by gains in professional ...

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ISM: Non-Manufacturing Sector Growth Continues

The ISM Non-Manufacturing Index registered 54.8 points in October, down 2.3 points from the previous month. Despite the decline, September marked the 81st consecutive month of growth as indicated by readings over 50 points. Thirteen non-manufacturing industries reported growth in October, while five reported contraction. Growth in the Business Activity Index slipped 2.6 points to 57.7. Eleven industries reported increased ...

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