‘The housing recession is over,’ real-estate group says, as pending home sales tick up for the first time in 4 months
U.S. pending home sales rose in June, the National Association of Realtors said on Thursday.
Economic Report
U.S. bank lending declines for second straight week
U.S. commercial and industrial loans fell by $1 billion to $2.75 trillion in the week ended July 19, the Federal Reserve said Friday.
U.S. inflation eases again, PCE shows. Prices rise at slowest pace in almost two years
The cost of goods and services rose a mild 0.2% in June as inflation eased again, but another measure of prices favored by the Fed showed less progress.
U.S. wages and salary gains moderate in second quarter
The U.S. employment cost index, the broadest measure of U.S. labor costs, rose 1% in the second quarter after gaining 1.2% in the prior three-month period.
Consumer sentiment hits 22-month high on easing inflation
A survey of consumer sentiment survey reached a 22-month high of 71.6 in July, spearheaded by a slowdown in inflation and robust employment gains.
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Consumer spending climbs again as Americans show confidence in the economy
Consumer spending rose 0.5% in June in a sign of confidence in the economy as inflation eased again and the U.S. continued to grow.
German economy stagnated in the second quarter
The German economy was stagnant in the second quarter after two periods of decline.
Mortgage rates rise as consumers remain confident about the U.S. economy
Mortgage rates inched up this week as the U.S. consumer remains confident about the economy.
U.S. trade deficit in goods narrows slightly in June
The U.S. international trade deficit in goods narrowed 4.4% to $87.8 billion in June, according to the Commerce Department’s advanced estimate released Thursday.
U.S. jobless claims drop to the lowest level since February
Initial jobless benefit claims fell by 7,000 to 221,000 in the week ended July 22, the Labor Department said Thursday. That is the lowest level of claims since February.
U.S. durable goods orders climb 4.7% led by Boeing contracts
Orders for long-lasting goods made in America jumped 4.7% in June due to a flush of new contracts for Boeing passenger planes.
What recession? GDP speeds up to 2.4% in the spring
The U.S. economy grew at a 2.4% annual pace in the second quarter running from April to June, propelled by strong consumer spending and a rebound in business investment.
Sales of newly built homes lose some momentum in June
U.S. new-home sales fell 2.5% to an annual rate of 697,000 in June, from a revised 715,000 in the prior month, the Commerce Department reported Wednesday.
Mortgage demand falls as rates stay high
Mortgage applications fell 1.8% in the latest week, the Mortgage Bankers Association said. The average rate for a 30-year mortgage is 6.87%.
Consumer confidence climbs to 2-year high as worry over inflation and recession ease
A survey of U.S. consumer confidence climbed to a two-year high of 117.0 in July, a sign that Americans are growing more optimistic about the economy.
S&P Case-Shiller shows U.S. home prices up for fourth straight month in May
U.S. home prices rose for the fourth straight month in May, according to the S&P Case-Shiller index.
IMF sees signs global economy is headed in the right direction
The global economy is headed in the right direction but it is too soon for central banks to think about easing interest-rate policy, the IMF said Tuesday.
Recession at least a year away, economists now say
Economics is known as the dismal science, but forecasters aren't so dismal now: Most think a recession is a 2024 problem. If there is one at all.
U.S. economy grows at slowest pace in 5 months. Inflation ‘sticky,’ S&P says
The U.S. economy grew at the slowest pace in five months in July, a pair of S&P surveys showed. They also pointed to weaker conditions later in the year.
Are we still going to have a recession? Maybe next year.
A U.S. recession is still possible, economists say. They're just not entirely sure when.
U.S. bank lending falls slightly in latest week
Commercial and industrial lending fell slightly in the latest week, according to Federal Reserve data released Friday.
Mortgage rates fall as U.S. inflation slows
The 30-year mortgage rate is averaging at 6.78%, Freddie Mac said in its latest weekly survey on Thursday.
U.S. leading index falls for 15th month in a row — and still no recession
The leading economic index dropped 0.7% in June, falling for the 15th month in a row, but is it really a recession signal? The U.S. economy is still growing.
Home sales fall in June as listings dwindle
Existing-home sales fell to a rate of 4.16 million in June, the National Association of Realtors said.
Philadelphia Fed’s manufacturing gauge stuck in negative territory for 11th straight month
The Philadelphia Fed said Thursday that its gauge of regional business activity inched up to negative 13.5 in July, from negative 13.7 in the previous month.
