Housing Starts Rose in November Single family housing starts rose 2.4% in November, multi-family starts by 4.9% and overall building permits rose 1.4%. Wells Fargo November existing home sales declined 1.7% in November but are still up 2.7% over the year. Sales should continue to improve with support from lower mortgage rates though inventory shortages [...]
US Manufacturing Output Rebounded US manufacturing output rebounded more than expected in November, as the end of an almost six-week long strike at General Motors plants boosted auto production. The Federal Reserve said on Tuesday that manufacturing production rose 1.1% last month after a downwardly revised 0.7% fall in October. Industrial output also rose 1.1% [...]
Unemployment Dropped to Fifty Year Low Unemployment dropped to fifty year low of 3.5% in November, as the US economy added 266,000 non-farm jobs, trouncing estimates of 180,000 new jobs. ...but let's impeach the President. Idiots-all of them. Small Business Optimism Index Rose in November, Marking the Largest Increase Since May The National Federation of [...]
Chicago Business Barometer Rose 3.1 Points The Chicago Business Barometer rose 3.1 points in November, hitting a 127th consecutive month two-month high 46.3, however, the index remains in contraction for the third straight month. The New Orders and Order Backlogs indices saw the largest monthly improvements in November. Supplier deliveries fell and Production slipped as [...]
Texas Factory Activity Contracted in November Texas factory activity contracted slightly in the month, according to the Federal Reserve Bank of Dallas November 2019 Texas Manufacturing Index, per executives responding to the survey. The production index, a key measure of state manufacturing conditions, dipped into negative territory for the first time since mid-2016. Other measures [...]
Thanks to All Our Friends, Customers and Vendors As we enter the Holiday Season and move toward the end of 2019, I give thanks to all our friends, customers and vendors for their support throughout this and every year. We all have very much to be thankful for, number 1 is the blessing of being [...]
Small Business Optimism Index Rose 0.6 Points, Remaining Close to its Cycle High The National Federation of Independent Business (NFIB) Small Business Optimism Index rose 0.6 points, remaining close to its cycle high. Most key components rose, including capital spending and hiring plans. The Consumer Price Index (CPI) for All Urban Consumers (CPI-U) Rose 0.4 [...]
Dow Industrials All-Time High The Dow Industrials all-time high was reached Monday, closing at 27462. The new all-time high was powered by optimism about a US-China trade deal and last week's upbeat figures on Q3 economic growth and better than expected October hiring. Reflecting the global growth slowdown and the ongoing US-China trade war, the [...]
Job Market Remains Strong The job market remains strong even in the face of trade disputes and labor strikes as US employers hired at a solid clip in October. The economy added 128,000 jobs in October, as reported by the Labor Department and job creation in September and August were revised up by a net [...]
Job and Income Growth Remain Favorable Job and income growth remain favorable. Largely ignoring other news, consumers are still focused on job and income growth. Inflation expectations remain muted, supportive of a Fed rate cut next week. Wells Fargo October Fifth District Survey of Manufacturing Activity Reports Activity Strengthened The Federal Reserve Bank of Richmond [...]
