How lumber tells the story of homebuilding during the pandemic
Despite a roller-coaster ride, lumber prices are still significantly higher than they were before the pandemic.
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FOMC policy decision: Fed hikes policy rate by 75 basis points
At this critical juncture, with the policy rate residing in neutral terrain, it is natural for the Fed to adjust its rhetoric as it considers next steps.
Unexpectedly strong durable goods orders and trade data temper recession concerns
Durable goods orders and goods trade deficit in June beat expectations, according to data released Wednesday, tempering recession concerns.
FOMC policy decision preview: Fed to hike lending rate .75% next week
A 100-basis-point increase in the federal funds rate will be on the table during the Federal Open Market Committee meeting next week, but we expect the central bank will hike the policy rate by 75 basis points.
Wholesale gas futures point to drop below $4 a gallon
Wholesale gasoline futures imply that the average price per gallon of gas, which stands at $4.44, will most likely fall below $4 per gallon by the end of the summer.
Initial jobless claims rise to eight-month high
New filings for jobless benefits rose more than expected last week to an eight-month high of 251,000, continuing to show signs of increases in layoffs amid an economic slowdown.
U.S. housing supply continues to fall amid rising mortgage rates
There were 1.56 million new housing starts in June on an annualized basis, a 2.0% decline from May and the lowest level since last September.
U.S. June CPI: Persistent top-line inflation hits 9.1%
The top-line consumer price index hit 9.1% in June on the back of a 11.2% increase in gasoline prices and a 7.5% jump in overall energy prices.
Travel industry, expecting busy summer, casts wary eye on inflation
With COVID-19 caseloads easing and consumers flush with savings built up during the
pandemic, the travel industry was anticipating a robust season.
U.S. employment report for June indicates no recession now
An American economy in free fall does not tend to produce 372,000 jobs in any given month, as the June employment report showed on Friday. The data released by...
Chart of the day: Service sector grows at slowest pace in two years
The ISM service index inched down to 55.3 in June, the slowest level of growth in more than two years since May 2020, when it was at 45.2.
Job openings show signs of a slowdown
Job openings declined for the second straight month in May as the Federal Reserve's rate hikes slowed down overall demand.
U.S. June jobs preview: Slower hiring in rate-sensitive industries
We expect the June U.S. employment report to show a total gain of 225,000 jobs, with risk of a stronger pace of hiring and an increase in the unemployment rate to 3.7%.
RSM US Manufacturing Outlook Index shows a slowing industrial sector
Three of the Federal Reserve’s regional manufacturing surveys are now reporting outright contractions and the other two are falling quickly toward contraction.
Preparing for a tsunami of imported goods
The recent reopening of China’s factory floors and the easing of its supply chain bottlenecks have prompted discussion about the ability of the U.S.
New home sales rise unexpectedly despite higher mortgage rates
The increase was driven by more supply coming online, pushing prices down for the first time since February.