Overall business activity at U.S. factories slowed in November, according to the Institute for Supply Management’s (ISM’s) purchasing managers index.
Tag: U.S. Economy
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ECONOMIC UPDATE – MARKET OVERVIEW
Today, CNBC reported that “The recovery in commercial real estate has been slow and bumpy, much like interest rate policy over the past few years. The two, of course, are deeply connected.”
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UNHAPPY YEAR: MORE THAN A MILLION LAYOFFS IN AMERICA
Through November this year, U.S. companies have announced layoffs of 1.17 million workers, workforce consulting firm Challenger, Gray & Christmas reported.
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U.S. ECONOMY SHOWS WORRYING NEW SIGNS OF WEAKNESS
In September, American retail sales grew by just 0.2. percent, falling below economists’ forecasts and slowing sharply from previous months.
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LOW-INCOME AMERICANS “SCRAPING FOR CRUMBS” AMID AFFORDABILITY CRISIS
“It feels like everything is closing in around us,” Anissa Camacho, a 26-year-old florist in Bethlehem, Penn., told the Financial Times.
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ECONOMIC UPDATE – MARKET OVERVIEW
One of the latest on an economic downside in the U.S. is the Apartment List report showing that the median rent for apartments in what used to be “The Land of Opportunity,” fell 1 percent last month from October, and is down for the fourth month in a row.
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U.S. ECONOMY IS NOW DEPENDENT ON AI SPENDING
Investment in artificial intelligence (AI) programs and infrastructure accounted for as much as half the U.S.’s economic expansion during this year’s first half, according to The Wall Street Journal. At the same time, investments in AI-related stocks have soared in value, vastly multiplying the household wealth of many Americans.
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TOP TREND 2023: OFFICE BUILDING BUST
A few iconic business districts such as Manhattan’s Park Avenue and the South of Market district in San Francisco are leading the recovery in office real estate, with rents and new leases on the rise.
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OCTOBER HOME SALES ARE MOST SINCE FEBRUARY
In October, sales of U.S. homes increased 1.2 percent from September, “signaling how even a small decline in mortgage [interest] rates will attract some buyers back to the market,” The Wall Street Journal noted. Sales were up 1.7 percent year on year.
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SEPTEMBER’S JOBS REPORT IS A PLEASANT SURPRISE
The U.S. economy created 119,000 nonfarm jobs in September, according to the Bureau of Labor Statistics’ September jobs report, delayed seven weeks by the government shutdown.