Housing starts fell in November but beat expectations, the Census Bureau and HUD reported Tuesday. The news, however, came in building permits, which fell sharply from both October and a year ago.
Tag: Wells Fargo Economics
Fed Slows Pace of Rate Hikes, But Hints at More
In its final policy meeting of an eventful year, the Federal Open Market Committee on Wednesday raised the federal funds rate for the seventh straight meeting, but by 50 basis points instead of 75 basis points, as it had for the past four times.
Fed Slows Pace of Rate Hikes, But Hints at More
In its final policy meeting of an eventful year, the Federal Open Market Committee on Wednesday raised the federal funds rate for the seventh straight meeting, but by 50 basis points instead of 75 basis points, as it had for the past four times.
November CPI Posts Welcome ‘Modest’ Increase
It’s not often that “modest” has economic significance, but when it refers to inflation as of late, then “modest” is perhaps a welcome description.
Employment Holds Steady, Slowing Slightly
November employment numbers slowed slightly from October, the Bureau of Labor Statistics reported Friday.
October Construction Spending Down; ISM Index Contracts for 1st Time Since 2020
Construction spending dipped in October, the Commerce Department reported Thursday, with slight increase in public construction offset by a decline in private construction. Separately, the Institute for Supply Management, Phoenix, reported its Manufacturing Report on Business fell for the first time in two and a half years.
Jobs Reports: ‘Great Resignation’ Starting to Fade
In the first two of four major jobs reports this week, ADP, Roseland, N.J., said private-sector employment slowed to 127,000 jobs in November. And the Bureau of Economic Analysis reported November job openings fell by more than 7 percent from a year ago.
3Q GDP Shows 2.9% Growth
Real gross domestic product increased at an annual rate of 2.9 percent in the third quarter, according to the “second” (revised) estimate released Wednesday by the Bureau of Economic Analysis.
Consumer Confidence Falls to 4-Month Low
The Conference Board, New York, said its Consumer Confidence Index fell in November, its second consecutive monthly drop to its lowest level since August.
Existing Home Sales Fall 9th Straight Month
October existing home sales fell—the ninth consecutive monthly decrease—the National Association of Realtors reported Friday.