Construction spending improved slightly in April, by 0.2 percent from March—but below expectations., the Census Bureau reported Wednesday.
Tag: Wells Fargo Economics
Job Openings Hold at Near-Record Highs; Another 4.4 Million Quit
Nearly 4.4 million Americans quit their jobs in April, keeping U.S. job openings at a near-record 11.4 million, the Bureau of Labor Statistics reported Wednesday.
Inflation, Rising Interest Rates Cool Consumer Confidence
The Conference Board, New York, said its Consumer Confidence Index decreased slightly in May, following a small increase in April.
Mixed Bag as 1Q GDP Revises to -1.5%
Real gross domestic product decreased at an annual rate of 1.5 percent in the first quarter, according to the “second” (revised) estimate Thursday by the Bureau of Economic Analysis.
April New Home Sales Fall to 2-Year Low
New home sales in April suffered double-digit percentage losses for the second consecutive month, falling to their lowest level since June 2020, HUD and the Census Bureau reported Tuesday.
Existing Home Sales Fall to Near 2-Year Low
Existing home sales fell for the third straight month, the National Association of Realtors reported Thursday, to their lowest level since June 2020.
Multifamily Nearly—But Not Quite—Saves April Housing Starts
April housing starts fell by just 0.2 percent from March—no thanks to single-family starts, which fell by more than 7 percent—HUD and the Census Bureau reported Wednesday.
April Inflation Cools Slightly
Inflation fell in April, relatively speaking, the Bureau of Labor Statistics reported Wednesday.
1st Quarter GDP Falls 1.4%
U.S. gross domestic product fell for the first time in two years, the Bureau of Economic Analysis reported Thursday, although analysts did not seem overly concerned.
March New Home Sales Stumble
New home sales took a tumble in March, HUD and the Census Bureau reported Tuesday, hamstrung by the usual suspects: rising interest rates; inadequate inventories and rapidly increasing home prices.