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Economy shifts to merely fast from furious: Chicago PMI

  • May 31, 2017
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  • realestatelife

The Chicago business barometer, or Chicago PMI, fell to 55.8 in May from a 28-month high of 58.3 in April. Any reading over 50 indicates improving conditions

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Consumers boost spending in April at fastest pace since end of 2016

  • May 30, 2017
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  • realestatelife

Spending jumps 0.4%; inflationary pressures wane. Aided by rising incomes and tax refunds, Americans boosted spending in April at the fastest clip since the end of 2016 in another sign the economy has speeded up during the spring. Lower inflation that reflects falling oil prices also gave households an extra cushion.

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Home-price growth accelerates to nearly three-year high in March

  • May 30, 2017
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  • realestatelife

The smallest annual increase of any of the 20 cities is still about double the rate of inflation. The S&P/Case-Shiller 20-city index rose 5.9% compared to a year ago in the three-month period ending in March, a tick higher than the 5.8% gain economists expected. That was the strongest annual price gain since July 2014.

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Consumer confidence, though still high, falls for second month in a row

  • May 30, 2017
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  • realestatelife

Consumer confidence fell in May for the second month in a row, suggesting Americans have tempered their expectations for the economy after a huge burst of optimism earlier in the year. The Conference Board said its consumer confidence index dropped to 117.9 in May from 119.4 in April. Just three months earlier, consumer confidence hit

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Orders for durable goods fall to 5-month low

  • May 26, 2017
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  • realestatelife

Orders for long-lasting goods such as planes and appliances fell in April for the first time in five months, suggesting that a resurgent U.S. manufacturing industry has cooled off a bit. Durable-goods orders dropped 0.7% last month amid weakness in most key segments of heavy industry. The decline follows four straight increases, including a revised

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Economy wasn’t as bad as it looked in first quarter, GDP shows

  • May 26, 2017
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  • realestatelife

Turns out the U.S. economy wasn’t totally asleep in the first three months of 2017: the government raised the growth rate to 1.2% from its original 0.7% estimate.

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Consumer sentiment edges up in May as Americans remain politically

  • May 26, 2017
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  • realestatelife

Consumer sentiment ticked up fractionally in May as Americans grew more optimistic about economic growth – but more pessimistic about current conditions. The University of Michigan’s closely-watched confidence tracker rose to 97.1 from 97.0 in April. It had touched 97.7 in a mid-May reading, and economists surveyed expected no change from that reading for the

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Low jobless claims look like rerun of early 1970s

  • May 25, 2017
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  • realestatelife

The number of Americans applying for and receiving unemployment benefits continue to drop to levels last seen nearly a half century ago, a sign the U.S. labor market remains quite robust eight years into an economic expansion. Initial jobless claims rose by 1,000 to 234,000 in the seven days stretching from May 14 to May

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U.S. trade deficit widens in April

  • May 25, 2017
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  • realestatelife

The advanced U.S. trade deficit in goods widened by 3.8% in April, while retail investors were down 0.3%.

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Fed’s Brainard: Risks to U.S. economy lower due to ‘brighter’ global outlook

  • May 25, 2017
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  • realestatelife

Federal Reserve Board Governor Lael Brainard said Thursday there is now less risk to the U.S. economy due to a healthier global economy. “As I look out at the global economy today, it is brighter than it has been probably for the last few years,” Brainard said. The euro-area is growing more solidly, the Fed

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