Adjusted for inflation, U.S. gasoline prices were 13 percent lower this Thanksgiving weekend than the same holiday a year ago, according to the U.S. Energy Information Administration (EIA).
Category: TRENDS ON THE U.S. ECONOMIC FRONT – Nov 28 2023
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EVERYONE FEELS PAIN OF INFLATION BUT NOT EQUALLY
Because low-income households spend a greater share of their incomes on necessities, their actual rate of inflation has been greater than middle- and upper-income earners, CNBC reported.
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SINGLE-FAMILY HOME LANDLORD GANGS KEEP HIKING RENTS
After slowing or reversing rent increases earlier this year, investors owning single-family homes ratcheted up rates again in the third quarter.
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U.S. BUSINESS ACTIVITY HOLDS FIRM BUT THE ECONOMY IS SHEDDING JOBS
U.S. economic activity has remained positive in November, according to S&P Global Market Intelligence’s flash composite purchasing managers index (CPMI), which combines data from the manufacturing and services sectors.
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INVESTORS DUMP DOLLARS AS INTEREST RATES LEVEL OFF
Investors are selling dollars at the fastest clip in the past 12 months on the belief that the U.S. Federal Reserve has stopped raising interest rates and will begin cutting them next year, the Financial Times reported.
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INVESTORS SNAP UP CORPORATE BONDS AT FASTEST PACE IN MORE THAN THREE YEARS
Believing that the U.S. Federal Reserve has completed its campaign of interest rate hikes, investors are buying corporate bonds at the fastest clip since July 2020, the Financial Times reported.
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ECONOMIC UPDATE – MARKET OVERVIEW
As we had forecast since the U.S. Fed started raising interest rates back in March 2022, the higher interest rates rise, the stronger the dollar will get.
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HOME SALES SLOWEST SINCE 2010: WHAT’S NEXT?
In October, the pace of U.S. existing home sales dropped 4.1 percent from September to 3.79 million, the least in any month since August 2010, the National Association of Realtors (NAR) announced. Sales for the month were 14.6 percent fewer than those in October 2022.