U.S. homebuilder sentiment fell every month in 2022, sinking in December to a level not seen in more than a decade outside of the pandemic amid elevated mortgage rates and high construction costs.
Author: Reade Pickert
Hiring and Wages Extend Strong Gains, Keeping Pressure on Fed
Employers added more jobs than forecast and wages surged by the most in nearly a year, pointing to enduring inflation pressures that boost chances of higher interest rates from the Federal Reserve.
Business Equipment Orders Rebounded Sharply in October
Orders placed with U.S. factories for business equipment rebounded in October, suggesting capital spending plans are holding up in the face of higher borrowing costs and broader economic uncertainty.
Inflation Slowed More Than Forecast in October
U.S. inflation cooled in October by more than forecast, offering hope that the fastest price increases in decades are ebbing and giving Federal Reserve officials room to slow down their steep interest rate hikes.
Retail Sales Unexpectedly Rise After Drop in Prior Month
U.S. retail sales unexpectedly rose in August after declining a month earlier, as consumer demand for goods broadly held up but showed signs of moderating amid historic inflation.
US Producer Prices Fall for a Second Month as Fuel Costs Retreat
A measure of U.S. producer prices fell for a second month in August as fuel costs continued to retreat, though an underlying measure of wholesale costs solidified a sign of persistent inflation in the production pipeline.
Trade Gap in Goods, Services Narrows for a Fourth Month
The U.S. trade deficit shrank for a fourth straight month in July, reflecting a decline in the value of imports and a slight pickup in exports that are seen helping provide a lift to third-quarter economic growth.
Business Activity Contracts for Second Straight Month
U.S. business activity contracted for a second straight month in August, reflecting softer demand at both manufacturers and service providers and adding to concerns about the health of the overall economy.
Productivity Falls for a Second Quarter
Productivity slumped for a second straight quarter as the economy shrank, driving another surge in labor costs that risks keeping inflation elevated and further complicates the Federal Reserve’s efforts to tame price increases.
Durable Goods Orders Exceed Forecast
Orders placed with U.S. factories for durable goods rose more than expected in May, suggesting business investment so far remains firm even in the face of rising interest rates and mounting concerns about the economy.