Record Home Prices Close Out 2023; Up 5.5%

 Home prices ended 2023 at a record high as limited inventory inched prices up and buyer confidence grew thanks to a modest reduction in mortgage rates.   The December S&P CoreLogic Case-Shiller Indices capped a year that started slowly but ultimately saw growth...

Durable Goods orders drop steeply in January in sharpest decline since the pandemic

The reduction in new orders suggests the manufacturing sector is still in a recession US durable goods orders declined more than expected in January, a sign that the manufacturing sector has not yet begun to recover from two years of stalled growth. Overall orders for...

January Retail Sales Show Unexpected Decline, Though Downturn Remains To Be Seen

 US retail sales dropped more than anticipated in January, a sign of economic slowdown, but not necessarily a sign of oncoming recession. January retail sales declined a seasonally adjusted 0.8 percent according to a Census Bureau report on Thursday, lower than the...

Inflation Slows, But A Bumpy Road Lies Ahead

Consumer price data surprised economists with a surge in prices for services, underscoring the bumpiness of the road towards slower inflation.  Prices rose 3.1% in January from a year earlier, compared to 3.3% in December, the Labor Department said Tuesday. That was...

New York Rents Reach Record Highs Despite Moderating Nationwide

Kat Logan moved into a spacious studio apartment in Gramercy Park in 2018 for $2,500. During the pandemic, her rent held steady. Now, Logan is considering leaving New York City because of skyrocketing rents. "There's this thought at the back of my mind like, what if...

Inflation, Wages Could Ease Before the Fed’s Meeting: Five Things to Consider in Personal Income Report

Economists predict a slight decrease in Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve’s preferred measure of inflation, and a modest dip in consumer spending, in March’s personal income report set for release Friday. The predicted slowdowns...

Younger Borrowers Are Grappling with Short Term Debts, the Restart of Student Loan Payments Could Provide an Additional Challenge

Young people are already struggling financially, and the potential restart of student loan payments could make their road ahead even bumpier. While American households overall have emerged from the pandemic in strong financial shape, with plenty of savings and little...

Manufacturing begins to contract amid banking fears and consistent Fed cuts

Durable goods orders continued declining in February, signaling that the rising borrowing costs might be sparking trouble for the manufacturing industry. New orders for all long-lasting goods fell by one percentage point this month after plunging by 5% in January,...

Consumers Spending Has Pulled Back In February

After a strong month in January of consumer spending, retail sales decreased in February, an indication that the economy is slowly cooling, but inflation is still high, which may cause the Fed to raise interest rates. Retail sales decreased in February, indicating...

Rebound in U.S. capital goods orders signals an expanding economy

New orders for manufactured goods fell last month but remained strong— weathering the storm and signaling an expanding economy.  New orders for durable goods sank by 4.5% in January, the biggest decline reported since April 2020, according to the Commerce Department....

Record Home Prices Close Out 2023; Up 5.5%

 Home prices ended 2023 at a record high as limited inventory inched prices up and buyer confidence grew thanks to a modest reduction in mortgage rates.   The December S&P CoreLogic Case-Shiller Indices capped a year that started slowly but ultimately saw growth...

Inflation Slows, But A Bumpy Road Lies Ahead

Consumer price data surprised economists with a surge in prices for services, underscoring the bumpiness of the road towards slower inflation.  Prices rose 3.1% in January from a year earlier, compared to 3.3% in December, the Labor Department said Tuesday. That was...

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