September housing starts took back the temporary momentum it gained in August, falling by more than 8 percent, HUD and the Census Bureau reported Wednesday.
Tag: Wells Fargo Economics
Economic Report Roundup: Inflation Pushes Up; Initial Claims Rise
The Bureau of Labor Statistics on Thursday reported its Consumer Price Index rose by 0.4 percent in September to an annual rate of 8.2 percent. Separately, the Labor Department reported initial claims for unemployment insurance rose for the second straight week.
September Producer Price Index Up 0.4%
The Producer Price Index, a key measure of wholesale inflation, rose by 0.4 percent in September after falling in August and July, the Bureau of Labor Statistics reported on Wednesday.
Employment Show Signs of Slowing
Non-farm employment slowed to 263,000 jobs in September, the Bureau of Labor Statistics reported Friday, while the unemployment rate fell back to pre-pandemic levels.
Housing Market Roundup Oct. 6, 2022
Here’s a summary of recent housing/economic reports that have come across the MBA NewsLink desk:
Construction Spending Posts Biggest Drop in 18 Months
Construction spending fell by 0.7 percent in August, the Commerce Department reported Monday, the second consecutive decline and the biggest drop since February 2021.
Existing Home Sales Down 7th Straight Month
Existing home sales fell in August for the seventh straight month, the National Association of Realtors reported Wednesday, despite more borrowers locking in rates before they went up.
August Housing Starts Rise; Drop in Permits Casts Shadow
The good news: August housing starts beat expectations, rising by more than 12 percent from July. The bad news: housing permits fell just as dramatically, lending uncertainty to an already volatile 2022 housing market.
Employers Add 315,000 August Jobs
July job growth slowed from June, the Bureau of Labor Statistics said on Friday—but analysts said that’s not necessarily a bad thing.
July Construction Spending Tapers
Construction spending fell in July, marking the second consecutive monthly drop, the Census Bureau reported Thursday.