Economic Updates
Monday, June 21
Last Week in the News The National Association of Home Builders/Wells Fargo housing market index fell five points in June to 17. Economists had anticipated a reading of 21. The five-point drop was the largest since November 2008. An index reading below 50 indicates negative sentiment about the...
Economic Updates
Monday, June 14
Last Week in the News According to the Federal Reserve, consumer credit debt rose in April by $954.8 million. Economists had forecast that consumer debt would fall by $1 billion in April. Consumer credit debt fell in March by $5.44 billion.The Mortgage Bankers Association said its seasonally a...
Economic Updates
Monday, June 07
Last Week in the News The Institute for Supply Management reported that the monthly composite index of manufacturing activity was 59.7 in May, after reaching 60.4 in April. A reading above 50 signals expansion. It was the 10th straight month of expansion.Total construction spending rose 2.7% t...
Economic Updates
Tuesday, June 01
Last Week in the News Existing home sales rose 7.6% in April to a seasonally adjusted annual rate of 5.77 million units from 5.36 million units in March. The inventory of unsold homes on the market rose 11.5% to 4.04 million, an 8.4-month supply at the current sales pace, up from an 8.1-month ...
Economic Updates
Monday, May 24
Last Week in the News The National Association of Home Builders/Wells Fargo housing market index rose three points in May to 22. It was the highest reading since August 2007. An index reading below 50 indicates negative sentiment about the housing market.The combined construction of new single...
Economic Updates
Monday, May 17
Last Week in the News The Commerce Department said wholesalers increased their inventories by 0.4% in March, following a 0.6% rise in February. Sales at the wholesale level rose a robust 2.4% in March, marking the 12th straight monthly gain.The Mortgage Bankers Association said its seasonall...