4th Quarter GDP Slows after Explosive 3Q Rebound

Gross domestic product increased at an annual rate of 4 percent in the fourth quarter, according to the “advance” estimate released yesterday by the Bureau of Economic Analysis.

December New Home Sales Post Modest Increase

New home sales rose by 1.6 percent in December—slightly less than consensus expectations, HUD and the Census Bureau reported yesterday.

Unemployment Claims Remain Elevated

Initial claims for unemployment insurance fell by 26,000 from the week before, the Labor Department reported yesterday, but remain elevated in the wake of economic instability resulting from the coronavirus pandemic.

Initial Claims Soar to 5-Month High

Initial claims for unemployment benefit jumped to their highest level since August as continued fallout from the coronavirus pandemic and a stumbling economy kept workers on the sidelines.

Job Losses Mark December Employment Report

The U.S. economy shed 140,000 jobs in December, the Bureau of Labor Statistics reported Friday, although the unemployment rate held steady at 6.7 percent.

Little Movement in Weekly Unemployment Claims

With a slowing economy, Americans filing weekly initial unemployment claims has shown little movement over the past several months, according to Labor Department data.

Some Institutions Still Lending on Retail

The retail sector downturn started even before the pandemic and has suffered more than other property types this year. But some institutions are willing to lending on retail assets, said JLL, Chicago.

Consumer Confidence Dips for 2nd Straight Month

The Conference Board, New York, said its Consumer Confidence Index declined in December, the second straight monthly decline economic uncertainty following a resurgence in the coronavirus pandemic.