Economic Update 08.10.09
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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 07.13.09
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 - 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 [...]
By the Numbers - Economy that Effects Mortgage
So here’s the skinny, signals were mixed. Economic indicators were up and housing starts are very low and the big question still remains, “when will housing recover and what will it look like when it does recover?” We’ll be here to walk you through it every step of the way. Here are the numbers.
The Conference [...]
Charlotte Mortgage - Economic Update 05/17/09
On Tuesday, May 12, according to the ICSC-Goldman Sachs index, store sales rose 0.3% in the week ending May 9 compared to the previous week. Compared to a year ago, retail sales were up 0.5%. That is the best year-over-year reading since late November 2008.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage [...]
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Charlotte Mortgage Loan - Economic Update May 4th
On Tuesday, April 28, the Conference Board reported that its consumer confidence index rose 12.3 points to 39.2 in April. Economists had expected the index to increase to 29.5. It is the highest level since a November reading of 44.7 and is the largest jump since a gain of 13 points in November 2005. …Read more
