Browsing: Economy

Economy

Applications for new mortgages plummeted 27.6 percent in the week of October 3-9, immediately after the new TILA-RESPA integrated disclosures took effect, according to weekly figures released by the Mortgage Bankers Association today.

Economy

Producer prices fell 0.5 percent in September, seasonally adjusted, after remaining unchanged in August according to the U.S. Bureau of Labor Statistics. The September decrease was attributable to a decrease in prices for final demand goods and services. Prices for final demand goods fell 1.2 percent, the largest decline since January when prices fell 1.9

Economy

Princeton University Professor Angus Deaton has received the 2015 Nobel Prize in Economic Sciences for his work regarding individual consumption choices and aggregate outcomes. Professor Deaton received this year’s award for three achievements: for developing a system to estimate demand for different goods with John Muellbauer in the 1980’s; for his studies of the link

Economy

Inflation expectations decreased for the third consecutive month at both the one-year ahead and three-year ahead levels, as earnings growth expectations also declined according to the New York Fed’s October Survey of Consumer Expectations (SCE). Median one-year ahead inflation expectations fell 6 basis points to 2.73 percent in September, tying April’s reading for the lowest

Economy

The NFIB Small Business Optimism Index reached 96.1 points in September, up 0.2 points from August’s reading. Seven of the ten components posted gains on the month, while three fell. Business owners reported improvement in hiring activity, as owners added a net 0.18 workers per firm in recent months, the highest level of the year.

Economy

In the minutes of their September 16th – 17th Federal Open Market Committee (FOMC) meeting, Fed officials outlined their decision to hold off on raising the federal funds rate, noting that although labor market conditions had improved considerably since the beginning of the year, headline inflation continued to run below target. Members agreed that labor

Economy

Delinquencies on consumer loans fell significantly in the second quarter, driven by large declines in home loan-related delinquencies, according to the ABA Consumer Credit Delinquency Bulletin that was released today. Delinquencies fell in seven of the 11 loan categories.

Economy

Consumer credit increased in August at a seasonally adjusted annual rate of 5.6 percent, rising to $3.47 trillion. Revolving credit rose at an annual rate of 5.3 percent to $918 billion, and non-revolving credit increased at an annual rate of 5.7 percent to $2.55 trillion. Total outstanding consumer credit increased by $16.0 billion, down from

Economy

The U.S International trade deficit increased in August to $48.3 billion, up $6.5 billion from June. The higher deficit reflected a decrease in exports and an increase in imports. August exports were $185.1 billion, down $3.7 billion. Imports were $233.4 billion, $2.8 billion more than in July. The goods deficit increased $6.6 billion to $67.9

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