Archive for November, 2016
Sunday, November 27th, 2016
- Existing home sales increased 2.0% to a seasonally adjusted annual rate of 5.60 million in October, from 5.49 million in September, according to the National Association of Realtors. The median existing home price in October was $232.2 thousand, up 6.0% from October 2015. This was the 56th consecutive month of year-over-year gains. Total housing inventory at the end of October decreased 0.5% from the previous month, and 4.3% from a year ago, to 2.02 million. Unsold inventory was at a 4.3-month supply at the current sales pace, down from 4.4 months in September. Properties typically stayed on the market for 41 days in October, up from 39 days in September, but down from 57 days in October of 2015.
- Sales of new single-family houses were down 1.9% from the previous month, but were up 17.8% from October of 2015, according to the U.S. Census Bureau. The median sales price of new houses sold in October was $304.5 thousand, up 1.9% from a year ago. The seasonally adjusted estimate of new houses for sale at the end of October was 246 thousand. This represents a supply of 5.2 months at the current sales pace, compared with 5.0 in the previous month and 5.6 a year ago.
- The results of Freddie Mac’s Primary Mortgage Market Survey showed mortgage rates rising. 30-year fixed-rate mortgage averaged 4.03% for the week ending November 23rd, up from last week when it averaged 3.94%. A year ago at this time, the 30-year fixed-rate mortgage averaged 3.95%.
- Mortgage applications increased 5.5% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending November 18th.
- The advance figure for initial claims for unemployment insurance was 251 thousand in the week ending November 9, an increase of 18 thousand from the previous week’s revised level. The 4-week moving average was 251 thousand, a decrease of 2 thousand from the previous week’s revised average.
- The Thomson Reuters/University of Michigan Index of Consumer Sentiment rose to 93.8 in November, from 87.2 in October. The Index was 91.3 in November of 2015.
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Sunday, November 20th, 2016
- Advance estimates of retail and food services sales for October were up 0.8% from September, and were up 4.3% from October 2015, according to the U.S. Census Bureau. Excluding motor vehicle & parts, retail sales were up 0.8% from September, and were up 4.0% from a year ago. Year-to-date, retail sales were up 2.9% from the first 10 months of 2015.
- Total manufacturing and trade sales for September were up 0.7% from August, while inventories were up 0.2%, according to the U.S. Census Bureau. The total business inventories/sales ratio was 1.38, compared with 1.39 in September 2015.
- Total Industrial production, which decreased 0.2% in September held steady in October. Total industrial production in October was 0.9% below its level a year earlier. The rate of capacity utilization decreased a percentage point to 75.3%, 4.7 percentage points below its 1972-2015 average.
- Housing starts in October were up 25.5% from the previous month, and were up 23.3% from October 2015. Building permits in October were up 0.3% from September, and were up 4.6% from a year ago.
- The results of Freddie Mac’s Primary Mortgage Market Survey showed mortgage rates rising. 30-year fixed-rate mortgage averaged 3.94% for the week ending November 17th, up from last week when it averaged 3.57%. A year ago at this time, the 30-year fixed-rate mortgage averaged 3.97%.
- Mortgage applications decreased 9.2% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending November 11th.
- The consumer price index increased 0.4% in October, following a 0.3% increase in the previous month. The core index increased 0.1%, the same increase as in the previous month. The consumer price index increased 1.6% for the 12-month period ending in October, while the core index rose 2.1%.
- The producer price index for total final demand was unchanged in October, while the index for final demand goods less foods and energy increased 0.1%. The producer price index for final demand increased 0.8% from October 2015 to October 2016.
- The import price index increased 0.5% in October, while the export price index increased 0.2%. The import price index decreased 0.2% from October 2015 to October 2016, while the price index for exports decreased 1.1%.
- The advance figure for initial claims for unemployment insurance was 254 thousand in the week ending November 5, a decrease of 11 thousand from the previous week’s unrevised level. The 4-week moving average was 259.75 thousand, an increase of 1.75 thousand from the previous week’s revised average.
- Real average hourly earnings for all employees rose 0.1% from September to October. This result stems from 0.4% increase in average hourly earnings, being nearly offset by a 0.4% increase in the consumer price index.
- The November 2016 Empire State Manufacturing Survey indicated that business activity stabilized for New York manufacturers. The headline index was 1.5 in November, up from negative 6.8 in October.
- The Philadelphia FED business outlook survey indicated that regional manufacturing activity continued to expand in November.
- The Conference Board’s leading economic index increased 0.1% in October, following a 0.2% increase in the previous month. The coincident index increased 0.1%, the same increase as in the previous month. Over the six-month span through October, the leading index increased 0.7% with six out of ten components advancing, while the coincident index increased 0.8% with all four components advancing.
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Sunday, November 13th, 2016
- Sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $444.9 billion in September, up 0.2% from August, and up 0.4% from September 2015, according to the U.S. Census Bureau. Inventories were up 0.1% from the previous month, but were down 0.1% from September 2015. The September inventories/sales ratio was 1.33, same as in September 2015.
- Consumer credit increased at a seasonally adjusted annual rate of 6.3% in September. Revolving credit increased 5.2%, while non-revolving credit increased 6.7%.
- The federal budget had a deficit of $44.2 billion in October, following a surplus of $33.4 billion in September. The deficit was $136.6 billion in October of 2016.
- The number of job openings was little changed at 5.5 million on the last day of September, according to the U.S. Bureau of Labor Statistics. Hired edged down to 5.1 million and total separations was little changed at 4.9 million.
- The advance figure for initial claims for unemployment insurance was 265 thousand in the week ending October 29, an increase of 7 thousand from the previous week’s unrevised level. The 4-week moving average was 257.75 thousand, an increase of 4.75 thousand from the previous week’s unrevised average.
- The results of Freddie Mac’s Primary Mortgage Market Survey showed mortgage rates rising. 30-year fixed-rate mortgage averaged 3.57% for the week ending November 10th, up from last week when it averaged 3.54%. A year ago at this time, the 30-year fixed-rate mortgage averaged 3.98%.
- Mortgage applications decreased 1.2% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending November 4th.
- The Thomson Reuters/University of Michigan Index of Consumer Sentiment rose to 92.6 in early November.
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Sunday, November 6th, 2016
- Personal income increased 0.3% in September, and personal consumption expenditures increased 0.5%. Real disposable personal income held steady, while real personal consumption expenditures increased 0.3%.
- The price index for personal consumption expenditures increased 0.2% in September, while the core index increased 0.1%. The price index (headline index) was up 1.2% from September 2015, while the core index was up 1.7%.
- Total non-farm payroll employment rose 161 thousand in October, following an increase of 191 thousand in the previous month, according to the U.S. Bureau of Labor Statistics.
- The unemployment rate edged down to 4.9% in October, from 5.0% in September.
- The average workweek of all employees on private nonfarm payrolls held steady at 34.4 hours. Average hourly earnings increased by 10 cents to $25.92. Over the past 12 months, average hourly earnings were up 2.8%.
- Third quarter productivity increased 3.1% (seasonally adjusted annual rate) in the non-farm business sector, following a 0.2% decrease in the previous quarter, according to the U.S. Bureau of Labor Statistics. Unit labor costs increased 0.3% in the third quarter, following a 3.9% increase in the previous quarter.
- The advance figure for initial claims for unemployment insurance was 265 thousand in the week ending October 29, an increase of 7 thousand from the previous week’s unrevised level. The 4-week moving average was 257.75 thousand, an increase of 4.75 thousand from the previous week’s unrevised average.
- The results of Freddie Mac’s Primary Mortgage Market Survey showed mortgage rates rising. 30-year fixed-rate mortgage averaged 3.54% for the week ending November 3rd, up from last week when it averaged 3.47%. A year ago at this time, the 30-year fixed-rate mortgage averaged 3.87%.
- Mortgage applications decreased 1.2% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending November 4th.
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