Financial News - 08.25.09
Image by Nimo Photography via Flickr
Existing home sales rose 7.2% in July to a seasonally adjusted annual rate of 5.24 million units from a revised level of 4.89 million units in June.
July marks the fourth consecutive monthly increase in existing home sales and it was the largest monthly gain since recordkeeping began.
The National Association of [...]
Economic Update 08.10.09
Image via Wikipedia
On Monday, August 3, the Commerce Department reported total construction spending rose 0.3% in June to $965.7 billion.
Economists had expected a 0.5% decline. Meanwhile, construction spending in May was revised slightly upward to a 0.8% decline.
The Institute for Supply Management reported the monthly index of manufacturing activity rose to 48.9 in July from [...]
Economic Update 08/03/09
On Monday, July 27, the Commerce Department reported new home sales jumped 11% in June
to a seasonally adjusted annual rate of 384,000 from an upwardly revised rate of 346,000 in May. It was the largest monthly increase in more than 8 years. Economists had expected a sales pace of 360,000 units.
The Standard & Poor’s / [...]
Economic Update 07.27.09
Image via Wikipedia
On Monday, July 20, the Conference Board reported that its index of leading economic indicators rose 0.7% in June after a revised 1.3% gain in May.
It was the third straight monthly increase and an indication the recession might be nearing an end. Economists had expected an increase of 0.4%.
According to the ICSC-Goldman Sachs [...]
Economic Update - Fort Mill 07.20.09
Tuesday, July 14
The Labor Department reported that the producer price index, which tracks wholesale prices, rose 1.8% in June, following a 0.2% increase in May.
The increase was double what economists expected and largely attributed to rising energy costs. Gasoline prices increased 18.5% and home heating oil rose15.4%.
Retail sales rose 0.6% in June, following a 0.5% [...]
Economic Update 07.13.09
On Monday, July 6, the Institute for Supply Management reported the monthly index of non-manufacturing activity rose in June to 47 from 44 in May. Economists had expected a reading of 45.5. Figures below 50 indicate contraction. However, it was the best showing since September 2008 when the index was at 50. Export orders were [...]
Economic Update 07.06.09
On Tuesday, June 30, the Conference Board reported that its consumer confidence index fell to 49.3 in June from a slightly revised 54.8 in May. Economists had expected an increase to 55. The index was bench-marked at 100 in 1985, a year chosen because it was neither a peak nor a trough in consumer confidence.
The [...]
Economic Update - Charlotte 6-15-09
On Tuesday, June 9, the Commerce Department said wholesalers reduced their inventories by 1.4% in April following a 2.4% drop in March. Economists had forecast a 1.1% decrease in April. It was the eighth straight monthly decline. Sales at the wholesale level fell 0.4% in April after a 2.4% decline in March.
Economic Update - Charlotte 6-8-09
On Monday, June 1, the Commerce Department reported total construction spending unexpectedly rose 0.8% in April. Economists had expected a 1.2% decline. It was the biggest gain since August 2008 and marked the second straight month that construction spending has risen after a 0.4% increase in March.
Home sales rise 2.9%, boosted by bottom fishing
Here is just some further insight from MarketWatch into housing sales and the state of the housing market. While the numbers of sales rise, prices are have steadily dropped to near 2002 levels.
Prices drop 15.4% while inventories continue to climb
WASHINGTON (MarketWatch) - Boosted by bottom fishers snapping up foreclosures and by incentives for [...]
