U.S. home sales surprised analysts by climbing 5.1 percent in December, year over year, to mark the strongest annual growth rate since February 2024.
Tag: U.S. Economy
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A JUMP IN FOOD PRICES LED DECEMBER’S INFLATION PACE
U.S. inflation in December kept to November’s rate of 2.7 percent, the U.S. labor department reported, a figure that economists had forecast in a Wall Street Journal poll.
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U.S. JOB GROWTH DISAPPOINTS AGAIN IN DECEMBER
Last month, the U.S. economy produced an additional 50,000 nonfarm jobs, slacking from November’s downwardly revised 56,000 and well below the 73,000 forecast by Dow Jones.
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ECONOMIC UPDATE – MARKET OVERVIEW
As I often say, I am a trend forecaster, not a predictor of trends. No one can “predict” the future because there are too many wild cards that can be played out by nature or humans.
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EXPECT THREE FED RATE CUTS BY JULY, MOODY’S CHIEF ECONOMIST SAYS
To counter labor market weakness and respond to political pressure, the U.S. Federal Reserve will cut a quarter point from its key interest rate three times by midyear, Mark Zandi, chief economist at Moody’s Analytics has forecast.
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TRUMP WANTS INVESTORS BANNED FROM SINGLE FAMILY HOUSING MARKET
Donald Trump said he will ask the U.S. Congress to ban large institutional investors from buying single-family homes.
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CAR BUYERS ARE TAKING OUT EIGHT-YEAR LOANS
U.S. car prices have grown by 33 percent since the COVID War began and the average selling price surpassed $50,000 this fall, compared to $38,000 in early 2020, according to pricing standard Kelley Blue Book.
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U.S. MANUFACTURING SECTOR IS STILL SHRINKING
In December, the U.S. industrial economy contracted for the 10th consecutive month, according to the Institute for Supply Management’s manufacturing purchasing managers index (PMI).
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U.S. MORTGAGE RATE FALLS BELOW 6 PERCENT
The average national interest rate on a 30-year, fixed-rate mortgage dropped to 5.99 percent Friday after Donald Trump posted on social media that he will mandate government-linked home loan agencies Fannie Mae and Freddie Mac to buy $200 billion in mortgage bonds.
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U.S. SERVICE ECONOMY GROWS IN DECEMBER
The U.S. services sector continued growing in December, aided by holiday spending, the Institute for Supply Management’s purchasing managers index (PMI) showed.