After a stunning 32.9 percent plunge in 2nd quarter gross domestic product, analysts hoped yesterday’s revised numbers would paint a more optimistic picture. It didn’t.
Tag: Wells Fargo Securities
Consumer Confidence Falls to 6-Year Low
The Conference Board, New York, reported its Consumer Confidence Index fell for the second straight month in August to a six-year low.
July New Home Sales Hit 13-Year High
Sales of new single-family houses in July posted another strong double-digit gain, jumping to their strongest pace since 2006, HUD and the Census Bureau reported yesterday.
July Existing Home Sales Ride the Wave
Existing home sales surged by a record 24.7 percent in July, the second straight double-digit monthly gain, the National Association of Realtors reported yesterday.
Unemployment Insurance Claims Jump Back Above 1 Million
Americans filing initial unemployment claims jumped back above one million for the week ending Aug. 15, the Labor Department said, suggesting a more difficult climb out of the economic hole triggered by the coronavirus pandemic.
With Wind at Its Back, Housing Starts Continue Summer Surge
Housing starts posted double-digit increases for the second straight month, HUD and the Census Bureau reported yesterday, to its highest level since February.
Initial Claims Fall Under 1 Million, Remain Historically Elevated
For the first time since the economic effects of the coronavirus took hold, new applications for unemployment fell below one million, although they remain elevated by historic standards.
Initial Claims Rise for 2nd Straight Week
After improving—relatively speaking—through most of the spring, initial claims backslid for the second consecutive week, the Labor Department reported yesterday.
2nd Quarter GDP Takes One to the Chin
We were warned that second quarter gross domestic product data was going to be bad. Even so, the numbers that came out yesterday were off the charts–literally.
July Consumer Confidence Dips Amid Coronavirus Resurgence
The Conference Board, New York, said its Consumer Confidence Index fell for the third time in four months in July, amid growing concerns over the resurgence of COVID-19 nationwide.