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.
Category: TRENDS ON THE U.S. ECONOMIC FRONT – Nov 12 2024
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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.
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ECONOMIC UPDATE—MARKET OVERVIEW, SPECIAL REPORT: THE U.S. PRESIDENTIAL ELECTION AND THE U.S. ECONOMY
Donald Trump told voters that under his economic policies, “incomes will skyrocket, inflation will vanish completely, jobs will come roaring back, and the middle class will prosper like never before.”