Browsing: Economy

Economy

Consumer confidence rebounded in August after July’s decline, rising 10.5 points on the month to 101.5, according to The Conference Board’s Consumer Confidence Index. The Present Situation Index – a measure of respondents’ appraisal of current business and employment conditions, grew 11.1 points to 115.1 in August, while the Expectations Index – a measure of

Economy

Sales of new single-family homes rose in July to a seasonally adjusted annual rate of 507,000 according to the U.S. Census Bureau and Department of Housing and Urban Development. The July rate is 5.4 percent above the revised June rate of 481,000 and 25.8 percent above the year-ago rate of 403,000. New home sales grew

Economy

The 20-City Case-Shiller Composite gained 5.0 percent year-over-year in June, consistent with May’s gain. The 10-City Composite gained 4.6 percent from the previous year, marginally lower than the year-over-year gain in May. The National Index recorded a 4.5 percent year-over-year gain for the month, compared to a 4.4 percent gain in May. On a monthly

Economy ‘SMID’ Banks Back in Favor: What to Make of the Rally

By Christopher McGratty early seven years since the federal funds rate was effectively cut to zero, it is widely believed that interest rates are set to slowly move higher later this year. Whether the inaugural 25 basis point move-up occurs in September or December, timing is now being measured in months, not years. This expectation

Economy

Existing home sales increased 2.0 percent in July to a seasonally adjusted rate of 5.59 million, according to the National Association of Realtors (NAR), up from a downwardly revised 5.48 million in June. Existing home sales have increased year-over year for the last ten months, and are now 10.3 percent higher than a year ago.

Economy

In the Minutes of their July 28 – 29 Federal Open Market Committee (FOMC) meeting, Fed officials outlined their decision to hold off on raising interest rates, noting that most members believed the conditions for policy firming were not yet met, but were “approaching that point.” In the July and previous meetings, FOMC members expressed

Economy

Housing starts in July rose to a seasonally adjusted annual rate of 1.206 million, 0.2 percent above the revised June estimate of 1.204 million and 10.1 percent higher than the July 2014 rate. Housing activity was mixed across regions, with starts rising in the Midwest and South by 20.1 percent and 7.7 percent respectively, while

Economy

The National Association of Home Builders/Wells Fargo Housing Market Index rose 1 point to a level of 61 in August, the highest reading since November 2005. Two of the three index components posted gains for the month. Current sales conditions rose 1 point to 66, while the buyer traffic index rose 2 points to 45. 

Economy

Industrial production increased 0.6 percent in July, after a 0.1 percent gain in June. This was the second consecutive monthly gain. Industrial production has increased 1.3 percent on the year. After a 0.3 percent decline in June, manufacturing output increased primarily due to gains in motor vehicle assembly. Mining, increased 0.2 percent on the month,

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