The retail, restaurant, manufacturing, automotive, and tech industries continue to be hit hard as prices increase and demand slows.
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LEBANON DEATH TOLL
The death toll in Israel’s offensive in Lebanon hit 3,287 on Tuesday, with an additional 14,222 people being injured in Israeli airstrikes and raids across the country.
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GAZA DEATH TOLL
The IDF killed at least 43,665 in Gaza and injured 103,076 since its genocide began last year. At least 11,000 people are missing. About 70 percent of the victims have been women and children, according to the UN.
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SURGE IN DEMAND BOOSTS APARTMENT CONSTRUCTION
In this year’s third quarter, demand for apartments climbed to its highest level since 2021 and reversed the steady, three-year rise in vacancy rates.
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SERVICE SECTOR BUSINESS ACTIVITY STRONGEST IN MORE THAN TWO YEARS
The Institute for Supply Management’s October purchasing managers index (PMI) for the U.S. service sector climbed to 56.0 from 54.9 in September, giving it the highest rating since July 2022.
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U.S. RETAILERS SCALE BACK IMPORTS AHEAD OF HO-HUM HOLIDAY SEASON
From 1 October, 2023, through 30 September this year, U.S. companies imported roughly 155 million tons of goods shown as "Christmas" items on paperwork required to be filed on imports, Bloomberg reported.
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PRICE OF NEW CARS TOO HIGH EVEN FOR THE AFFLUENT
A growing number of upper-income Americans are dropping out of the new-car market, according to a report by Bloomberg.
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AMERICAN HOME BUYERS ARE RICHER, OLDER IN 2024
Americans who bought their first homes this year had a median household income of $97,000, up from $95,900 in 2023, according to a study by the National Association of Realtors (NAR).
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MORTGAGE RATES RISE AFTER FED RATE CUT
The U.S. Federal Reserve took a half point off its key lending rate in September, but mortgage interest rates have gone in the opposite direction since then.
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AS EXPECTED, FED CUTS RATE BY A QUARTER POINT
Last week, the U.S. Federal Reserve cut its key interest rates by a quarter point, dropping interest on deposits to 4.5 percent and on loans to 4.75 percent.