Banks and the Economy

Housing Starts Declined in July

Housing starts decreased to a seasonally adjusted annual rate of 1.155 million in July, according to the U.S. Department of Commerce. The decline was 4.8% below the revised June rate of 1.213 million and is 5.6% below the July 2016 rate. Housing activity decreased in three of the four regions with only the South showing growth, increasing 0.6%. The Northeast ...

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Homebuilder Confidence Soared in August

The National Association of Home Builders/Wells Fargo Housing Market Index rose to 68 in August, a four point increase from June’s reading. “Our members are encouraged by rising demand in the new-home market,” said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas. “This is due to ongoing job and economic growth, attractive mortgage rates, and growing ...

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Retail Sales Jumped to 7-Month High in July

There were $478.9 billion in retail and food service sales in July, up 0.6% from the previous month and 4.2% from July 2016, according to the U.S. Census Bureau. July’s retail sales were the largest gain in seven months. June’s number was upwardly revised to reflect 0.3% growth. Core retail sales – excluding automobiles and parts – grew 0.5%. Year-over-year ...

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BAFT Outlines Priorities for Modernizing U.S. Trade Policy

As the Trump administration considers strategies for modernizing U.S. trade policy, BAFT -- ABA’s global transaction banking subsidiary -- wrote to policymakers outlining several priorities to promote free and fair trade and increase economic growth and job creation.

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Consumer Prices Increased 0.1% in July

The Consumer Price Index grew 0.1% in July on a seasonally adjusted basis, according to U.S. Bureau of Labor Statistics. Over the last 12 months, the all-items index rose 1.7%. Prices for all items less food and energy, the “core CPI,” increased 0.1% in July, the fourth month in a row it increased that amount. The index rose 1.7% for ...

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Producer Prices Declined 0.1% in July

Producer prices fell 0.1% in July, seasonally adjusted, after increasing 0.1% in June, according to the U.S. Bureau of Labor Statistics. Producer prices rose 1.9% for the twelve months ended July 2017. The index for final demand goods decreased 0.1% in July after growing 0.1% in the previous month. The index for final demand energy fell 0.3%, the third consecutive ...

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Fed Survey Examines Credit Trends among Startups

Startup firms -- those between zero and five years old that have more than one and fewer than 500 employees -- face greater financing challenges than more mature businesses, according to a survey released today by the Federal Reserve.

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