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U.S. employment drops 33,000 in September; jobless rate 4.2%

  • October 6, 2017
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  • realestatelife

The U.S. workforce shrank by 33,000 jobs in September as employment was undercut by hurricanes Harvey and Irma. It was the first contraction in seven years. Economists polled had predicted a 75,000 increase in nonfarm jobs, but estimates were all over the map because of uncertainty about the effects of the storms. The unemployment rate,

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U.S. trade deficit falls to 11-month low

  • October 5, 2017
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  • realestatelife

The U.S. trade deficit dropped 2.7% in August to $42.4 billion from $43.6 billion in July. Economists polled by MarketWatch had forecast a $42.6 billion gap. Imports slipped 0.1% to $237.7 billion. Exports rose 0.4% to $195.3 billion, the Commerce Department said Thursday.

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Yet another key barometer of the U.S. economy returns to its prerecession peak

  • October 4, 2017
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  • realestatelife

The Institute for Supply Management’s index of service-oriented companies such as banks and retailers jumped to a 12-year high of 59.8% in September from 55.3%. The last time the index was higher was in August 2005.

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September ISM Non-Manufacturing (Services) stronger than expected

  • October 4, 2017
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  • realestatelife

September ISM Non-Manufacturing (Services) hit 59.8 vs. estimates of 55.5 This is a strong reading considering anything above 50 is expansionary and the Services sector accounts for more than 2/3 of our economic output.  This is very negative for bonds and interest rate pricing.

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Private-sector job growth slows in September, ADP says

  • October 4, 2017
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  • realestatelife

Private-sector employment slowed in September as firms added 135,000 jobs ADP reported Wednesday. The gain was close to estimates which had forecast a September gain of 140,000 jobs, compared with an original reported increase of 237,000 for August. On Wednesday, ADP revised August’s gain to 228,000.

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Fed’s Kashkari prefers no more rate hikes until inflation hits 2% target

  • October 2, 2017
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  • realestatelife

Minneapolis Fed President Neel Kashari on Monday openly disagreed with Fed Chairwoman Janet Yellen by urging the central bank not to raise interest rates again until inflation hits the central bank’s 2% annual target. “My preference would be not to raise rates again until we actually hit 2% core PCE inflation on a 12- month

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Construction spending strengthens in August, led by rebound in public sector outlays

  • October 2, 2017
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  • realestatelife

Spending increased 0.5% during the month, and stood 2.5% higher than a year ago. Outlays were at a seasonally adjusted annual $1.22 trillion rate in August, while July’s initial tally was revised up to $1.212 trillion. The median forecast among economists surveyed by was for a 0.4% increase.

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Fewer auto sales dent consumer spending in August, inflation still weak, PCE shows

  • September 29, 2017
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  • realestatelife

Consumer spending rose 0.1% in August. If adjusted for inflation, however, spending fell for the first time since January. Personal income climbed 0.2%, above the 0.1% forecast. The savings rate was flat at 3.6%. The PCE index, the Federal Reserve’s preferred inflation gauge, increased 0.1% in August. The closely followed “core” rate that strips out

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Hurricanes inflate U.S. weekly jobless claims

  • September 28, 2017
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  • realestatelife

Initial U.S. jobless claims, a tool to measure layoffs, rose by 12,000 to 272,000 in the seven days stretching from Sept. 17 to Sept. 23.

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US economic recovery ramps up as 2Q GDP hits 3.1%

  • September 28, 2017
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  • realestatelife

The U.S. economy grew a bit faster than previously estimated in the second quarter, recording its quickest pace in more than two years.

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